Kuala lumpur: The Cooperative Commission of Malaysia (SKM) has approved RM1.02 million in funding to 94 cooperatives nationwide under the 'Jejak Koperasi' programme, aiming to empower the country's cooperative sector.

According to BERNAMA News Agency, Minister of Entrepreneur Development and Cooperatives (Kuskop) Datuk Ewon Benedick stated that the funding is part of a larger RM2 million allocation by SKM to implement the programme, which involves 160 cooperatives. The 'Jejak Koperasi' programme is a special initiative introduced by Kuskop through SKM in 2024. Its purpose is to prepare cooperatives in the tourism and hospitality sector for the upcoming Visit Malaysia Year 2026.

In addition to the funding for 'Jejak Koperasi', RM642,000 has been allocated for the MADANI Cooperative Sales Programme, which is being implemented across various locations. This initiative seeks to boost participation in local economic activities and provide direct benefits to the community, according to Ewon in a statement made during the opening of the Tenom district-level 2025 Mini Cooperative Carnival.

Ewon highlighted that cooperatives in Malaysia currently hold shares and fees amounting to RM18.3 billion, possess assets worth RM173 billion, and achieve an annual turnover of approximately RM68.18 billion. He also mentioned that the government is in the process of drafting amendments to the Cooperative Societies Act 1993. These amendments aim to strengthen the legal framework, making it more progressive and cooperative-friendly, aligning with current and future aspirations.