TENOM: The Cooperative Commission of Malaysia (SKM) has approved RM1.02 million in funding for 94 cooperatives under the Jejak Koperasi programme to strengthen the cooperative sector.
Datuk Ewon Benedick, Minister of Entrepreneur Development and Cooperatives (Kuskop), stated that the funding is part of a RM2 million allocation by SKM, involving 160 cooperatives. The programme is a special initiative introduced in 2024 to prepare cooperatives in tourism and hospitality for Visit Malaysia Year (VMY) 2026.
Additionally, RM642,000 has been set aside for the MADANI Cooperative Sales Programme, aimed at boosting local economic activities and community benefits. Ewon shared these updates during the opening of the Tenom district-level 2025 Mini Cooperative Carnival.
He highlighted that cooperatives nationwide now hold shares and fees worth RM18.3 billion, assets of RM173 billion, and an annual turnover of RM68.18 billion. The government is also amending the Cooperative Societies Act 1993 to modernise the legal framework for cooperatives. - Bernama
