National Cooperative Sector Targeted To Hit RM100 Bln Revenue This Year 

MELAKA, Oct 9 (Bernama) -- The national cooperative sector is projected to reach a revenue of RM100 billion this year, driven by positive growth as well as strengthening membership and capital accumulation.

Malaysia Cooperative Societies Commission (SKM) chief executive officer Mohd Marzuki Yasoa' said as of Dec 31 last year, the sector recorded a revenue of RM81.6 billion and total assets amounting to RM186.75 billion.

"As of December 31 last year, a total of 16,468 cooperatives were recorded nationwide, with accumulated share capital and fees amounting to RM18 billion.

"These figures reflect the significant role and contribution of the cooperative movement in strengthening economic development and enhancing the well-being of members and the community, as such we are optimistic that the national cooperative sector's revenue can reach RM100 billion this year," he told reporters here last night.

He said this following the launch ceremony of the 'Cooperative Movement Appreciation 2026' (Melaka State Level), officiated by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

Mohd Marzuki stated that the Ministry of Entrepreneur and Cooperative Development (Kuskop), through the Cooperative Commission of Malaysia (SKM), is placing special emphasis on encouraging more cooperatives in the country to engage in the food security sector, making this a key agenda for the cooperative movement at present.

He noted that this effort aims to ensure the nation's food supply remains secure in the event of unforeseen circumstances, particularly given the various conflicts occurring globally.

"In addition, we are encouraging the cooperative movement in the country to venture into the digitalization and artificial intelligence (AI) industries, in line with technological advancements," he said.

Meanwhile, he mentioned that the government, through Kuskop and the Ministry of Finance, provides various forms of financial assistance to help the cooperative movement grow, including the revolving capital fund, which has been allocated RM50 million for this year.

However, he noted that to date, only about RM22 million of that allocation has been disbursed to cooperatives in need, and his department encourages cooperatives requiring assistance to come forward and apply.

"Under that fund, there are 21 types of assistance offered to help cooperatives facing any issues or constraints, and ensuring the cooperatives involved can continue to grow," he said.

Earlier at the event, the SKM also launched the 'Melaka State Cooperative Movement Profile Book 2026,' which showcases the profiles of 35 of Melaka's best cooperatives.

-- BERNAMA