Kuala lumpur: The Malaysian National Cooperative Movement (ANGKASA) is set to optimise a RM4.4 million allocation from the Cooperative Development Trust Fund (KWAPb) to bolster the cooperative ecosystem. This initiative aims to enhance aspects such as education, business development, and high-impact entrepreneurship.
According to BERNAMA News Agency, ANGKASA President Datuk Seri Dr. Abdul Fattah Abdullah announced that the funds will be strategically used to keep the cooperative movement relevant and competitive. This is particularly pertinent as the movement navigates the challenges of digitalisation and market expansion, aligning with the Malaysia MADANI aspirations.
Dr. Abdul Fattah highlighted that a key focus is to strengthen cooperative education through initiatives like the Cooperative Leadership and Youth Entrepreneurship Development Programme (SLiCE) and the Cooperative Leadership Programme (CLP). These initiatives are designed to cultivate competent cooperative leaders. His comments came during an official visit by the Minister of Entrepreneur Development and Cooperatives, Steven Sim Chee Keong, at Wisma ANGKASA.
During the visit, Minister Sim announced a significant total allocation of RM254 million for 28 cooperative development programmes this year, marking the highest funding since the establishment of the country's cooperative movement. This allocation reflects a substantial 167 percent increase from the previous year and includes RM226 million through the Malaysia Co-operative Societies Commission (SKM) Revolving Capital Fund, alongside RM27.9 million in development grants under the 13th Malaysia Plan (RMK13).
The RM27.9 million fund is designated as grants for 20 programmes under KWAPb, the Central Cooperative Fund (CCF), and the RMK13 Development Budget. Dr. Abdul Fattah further elaborated that ANGKASA is devising targeted programmes to stimulate business through consortia formation, business matching, and digital transformation.
He noted that the mentor-mentee coaching method will be enhanced to boost the economic revenue of community cooperatives, ensuring that every fund allocation provides direct benefits to members at all levels. Dr. Abdul Fattah also expressed gratitude for the government's confidence in ANGKASA, affirming their commitment to work closely with SKM to ensure transparent and impactful programme implementation for the nation's socio-economic growth.