Kuala lumpur: The new Cooperative Bill, aimed at replacing the Cooperative Societies Act 1993 (Act 502), is now in its final drafting stage and is scheduled to be tabled in Parliament this December, announced Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick. This legislative update is intended to align the cooperative framework with contemporary demands and further the growth of Malaysia's cooperative movement.
According to BERNAMA News Agency, the Ministry, along with the Cooperative Societies Commission, has conducted 23 engagement sessions with key stakeholders, including government bodies, premier cooperatives, federations, ANGKASA, academic institutions, and representatives from state administrations across Sabah, Penang, Johor, Pahang, and Sarawak. These consultations are part of the preparation process for the new Bill.
Minister Ewon outlined that the ministry is aiming for the new Cooperative Act to be gazetted by June 2026, with its enforcement projected for November or December of the same year. He emphasized the importance of integrating the cooperative sector into the nation's financial planning, particularly in the context of the upcoming Budget 2026, slated for presentation in October.
During his address at the National Cooperative Consultative Council (MPKK) meeting, Ewon highlighted the significance of the cooperative movement's input in shaping the budget to ensure the sector's interests are adequately represented. The meeting serves as a vital forum for exchanging insights and proposals with government officials prior to budget development.
Furthermore, Ewon recounted the success of the 2025 National Cooperative Day (HKN'25), which took place from July 25 to 27 in Melaka. The event attracted over 58,000 visitors, surpassing the initial attendance target of 50,000. The programme generated approximately RM1.1 million in cooperative and entrepreneur sales, with potential sales value estimated at RM22 million, underscoring the growing economic impact of cooperatives and entrepreneurs.