ANGKASA Eyes Early Achievement Of RM73 Bln Cooperative Revenue Target

KUALA TERENGGANU, June 18 (Bernama) – Angkatan Koperasi Kebangsaan Malaysia Bhd (ANGKASA) expects to achieve its long-term revenue target of RM73 billion by year-end, five years ahead of the 2030 goal set under the Malaysian Cooperative Policy (DAKOM).

Its president Datuk Seri Dr Abdul Fattah Abdullah attributed the upbeat forecast to steady annual growth of around RM5 billion, buoyed by broader economic expansion and a range of government-backed initiatives aimed at strengthening the sector.

“The government has introduced various programmes to energise cooperative businesses, which have had a direct impact on revenue,” he said at the ANGKASA Terengganu Cooperative Appreciation Ceremony 2025 held here today.

Also present were the Terengganu Cooperative Commission director Awang Ruslli Mohammad and ANGKASA Terengganu chairman Mohamed Yusoff.

Abdul Fattah noted that a key factor behind the momentum is the MADANI Rahmah Sales Programme.

Last year, the government allocated RM2 million to support 200 ANGKASA-linked cooperatives under the initiative. That funding has since grown to RM10 million, benefiting 444 cooperatives this year.

Looking ahead, he said ANGKASA aims to establish 400 new mosque-based cooperatives in 2025, adding to the 600 currently in operation.

These grassroots initiatives are intended to boost local economic participation and self-reliance, he added.

Abdul Fattah also pointed to rising cooperative engagement in food production and retail as a key revenue driver.

“ANGKASA has helped modernise 3,500 grocery stores through digital upgrades and is encouraging the creation of new community-based retail cooperatives,” he said, adding that each participating cooperative will have access to at least RM10,000 in revolving credit.

“We’re working to build a stronger, more resilient network of community-focused cooperatives that can meet both local needs and national economic objectives,” he said.

-- BERNAMA