PENAMPANG: The Malaysia Cooperative Societies Commission (SKM) has approved development assistance funding to 126 cooperatives nationwide amounting to RM5.7 million as of July 15 this year.
Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said the SKM development assistance was approved to cover the cost of equipment and business activities for the cooperatives.
“Funding to increase the working capital of cooperative businesses approved under TMPSKM (SKM Working Capital Fund) amounts to RM152.13 million representing applications from 96 cooperatives,” he said when officiating the National Cooperative Day (HKN) for Sabah state level here today.
Ewon said Sabah received RM1.07 million in SKM development assistance benefiting 10 cooperatives for the same period, while RM1.9 million in TMPSKM funding was approved for three cooperatives in the state.
“Other Ministry of Entrepreneur Development and Cooperatives (KUSKOP) agencies such as Tekun Nasional, Amanah Ikhtiar Malaysia, SME Corp, SME Bank, Pernas, and cooperative banks, namely Bank Rakyat and Coop Bank Pertama, also provide incentives and financing schemes to all business entities including cooperatives,” he said.
Meanwhile, Ewon said that KUSKOP has also implemented several latest initiatives to help facilitate the business activities of cooperatives and entrepreneurs throughout the state, such as via the Cooperatives and Entrepreneurs MADANI Sale (JMKU).
He said that as much as RM2 million has been allocated to carry out the programme this year, which is also part of KUSKOP’s efforts to deal with the issue of people’s cost of living.
“Via this programme, the public has the opportunity to obtain daily necessities at a cheaper price, which is 20 per cent to 30 per cent lower than the normal price, while cooperatives, being the sales operators, are able to boost their income.
“As of July 31, a total of 72 JMKU programmes were organised, with total approved incentives of RM1.82 million and total sales recorded at RM6.46 million.
“The implementation of this programme benefits 212,050 consumers through basic necessities sold by 230 sales operators appointed by SKM,“ he said.
Ewon further said the programme was a manifestation of the efforts and contribution of the cooperative movement in ensuring that they remain relevant as a sector that contributes to the country’s socioeconomic strength.
Themed “Malaysia MADANI Teras Kecemerlangan Koperasi”, the two-day National Cooperative Day starts today, featuring various interesting activities such as exhibitions, sales and advisory sessions by the KUSKOP agencies.
