KUALA LUMPUR: The new Cooperative Bill is in its final drafting stage and will be tabled in Parliament this December, announced Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick. The legislation will replace the Cooperative Societies Act 1993 to better align with current economic needs and boost Malaysia’s cooperative movement.
The ministry and the Cooperative Societies Commission have conducted 23 engagement sessions with stakeholders, including government agencies, premier cooperatives, and state representatives from Sabah, Penang, Johor, Pahang, and Sarawak. Ewon stated, “The ministry is targeting the gazettement of the new Cooperative Act in June 2026, with enforcement expected in November or December that same year.”
He emphasized that the cooperative sector will remain integral to national financial planning, including Budget 2026, set for tabling in October. “It is important that the cooperative movement voices its input and budget proposals from a cooperative perspective to ensure the sector is not left out,“ he added.
The National Cooperative Consultative Council meeting served as a strategic platform for cooperatives to present proposals ahead of budget discussions. Ewon also highlighted the success of the 2025 National Cooperative Day (HKN’25), which drew over 58,000 visitors and generated RM1.1 million in sales, with potential sales estimated at RM22 million. - Bernama
