Kota kinabalu: Cooperatives in Sabah must have the courage to transition to digitalisation to ensure they can compete in the current economic landscape, Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan said. Cooperatives could no longer depend on traditional approaches and need to adapt to new technology and innovation as digitalisation was no longer an option but a must, he added.

According to BERNAMA News Agency, Ramanan warned that without a shift towards digital solutions, cooperatives risk being left behind and falling out of the mainstream of modern economic development. He delivered these remarks during his speech at the Bicara Ilmu programme, organised by the Malaysian Cooperatives Institute, which saw the participation of 200 cooperative members from Sabah.

Ramanan highlighted that the programme's strong turnout demonstrated the collective determination of Sabah's cooperative members to enhance their movement in the face of current challenges. He emphasized that empowering cooperatives in the state required close support and cooperation between federal and state governments.

The performance of the cooperative movement in Sabah until December 31, 2024, showed positive development. A total of 1,994 cooperatives were registered, comprising 375,559 members. Their total share capital and collected fees exceeded RM273.37 million, with a combined asset value of RM1.008 billion, while revenue was recorded at RM774.45 million.