Establish SKM-IKMa-ANGKASA cooperation for a more dynamic cooperatives movement – MEDAC

KUALA LUMPUR, Feb 12 — The Entrepreneur Development and Cooperatives Ministry (MEDAC) has launched the Malaysian Cooperative Aspirations document to develop a more dynamic and competitive cooperatives movement.

Its minister, Tan Sri Noh Omar said the document represents the understanding between prime movers of the national cooperatives that is the Cooperatives Commission of Malaysia (SKM), Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA), and Institut Koperasi Malaysia (IKMa) to outline the roles and responsibilities of the cooperatives concerned more clearly to avoid duplication of functions.

“To realise the goal of the Cooperatives Family, SKM, IKMa and ANGKASA need to work together to achieve an identity and head towards the same goal,” he said at the pre-launch ceremony of the “100 Years of the Cooperative Movement, Building Keluarga Malaysia” here today.

In addition, Noh said his ministry would review the existing legal system and governance structure so that it was in line with current developments and needs.

Among the matters that will be studied is the appointment of a chairman and chief executive officer of SKM which will not be held by the same individual as well as to reduce the number of people needed to register to establish a cooperative from 50 to 20 people.

Realising the importance of the cooperatives sector in helping to eradicate poverty and raise the socio-economic status of the people, Noh said the government has agreed to celebrate National Cooperatives Day (HKN) annually on the third Saturday of July and National Cooperatives Month (BKK) yearly in July beginning this year.

In order to ensure that the cooperatives sector remains competitive and comprises competent members, Noh also said that the Universiti Keusahawanan Koperasi Malaysia (UKKM) will receive its first intake of 1,000 students in July.

“With the establishment of UKKM, once again we have achieved success in celebrating 100 years of Cooperatives this year,” he said.

The history of cooperatives in Malaysia officially began with the establishment of cooperatives in 1922 through the implementation of the Cooperatives Enactment to help solve the problem of rural farmers exploited by middlemen and debt problems among urban civil servants.

Revealing the success of the cooperatives movement, Noh said the Malaysian cooperatives sector was now the third-largest contributor to the country’s economy after the government and private sectors.

“Currently, a total of 14,657 cooperatives have been established with a total membership of 6.5 million. Apart from this, the contribution of the cooperatives movement through the accumulation of share capital and fees is RM15.8 billion, with asset generation of RM150.5 billion and turnover reaching RM41.5 billion,” he added.

Source: BERNAMA News Agency