ANGKASA To Optimise RM4.4 Million Allocation To Strengthen Cooperative Ecosystem

KUALA LUMPUR, Jan 29 (Bernama) -- The Malaysian National Cooperative Movement (ANGKASA) will optimise a RM4.4 million allocation from the Cooperative Development Trust Fund (KWAPb) to empower the cooperative ecosystem, spanning education, business development, and high-impact entrepreneurship.

ANGKASA President Datuk Seri Dr. Abdul Fattah Abdullah stated that the funds will be utilised to ensure the cooperative movement remains relevant and competitive, particularly in facing digitalisation challenges and market expansion in line with the Malaysia MADANI aspirations.

"Among the primary plans is the strengthening of cooperative education through initiatives such as the Cooperative Leadership and Youth Entrepreneurship Development Programme (SLiCE) and the Cooperative Leadership Programme (CLP) to produce competent cooperative leaders," he said.

He spoke to Bernama following an official visit from the Minister of Entrepreneur Development and Cooperatives, Steven Sim Chee Keong, at Wisma ANGKASA here today.

Earlier, Sim announced a total allocation of RM254 million for the implementation of 28 cooperative development programmes throughout this year - the highest amount recorded since the establishment of the country’s cooperative movement.

Sim said that the allocation, which marks a 167 percent increase compared to last year, includes RM226 million via the Malaysia Co-operative Societies Commission (SKM) Revolving Capital Fund and RM27.9 million in the form of development grants under the 13th Malaysia Plan (RMK13).

The RM27.9 million fund is allocated as grants involving 20 programmes under KWAPb, the Central Cooperative Fund (CCF), and the RMK13 Development Budget.

Commenting further, Abdul Fattah said ANGKASA is also drafting targeted programmes to drive business through the formation of consortia, business matching, and digital transformation.

"The mentor-mentee coaching method will be strengthened to increase the economic revenue of community cooperatives and ensure that every fund provides direct benefits to members at all levels," he added.

He also expressed appreciation for the government's trust and stated that ANGKASA will continue to work closely with SKM to ensure transparent programme implementation with a high impact on the nation’s socio-economic development.

--BERNAMA