Cooperatives Urged To Avoid ‘ali Baba’ practices - saarani

IPOH, May 19 (Bernama) -- Cooperatives that receive projects from the state government are reminded not to engage in ‘Ali Baba’ practices or sell these projects to other parties, said Menteri Besar Datuk Seri Saarani Mohamad.

He said such business practices are detrimental and do not add value to the cooperative’s progress and development.

“If an application is approved, the cooperative should not engage in ‘Ali Baba’ practices because it would result in the cooperative only receiving a fraction of the benefits while others profit from the project,” he told reporters after officiating at the Koperasi Masjid Perak Berhad’s 27th annual general meeting here today.

To prevent such practices, he said the state government would scrutinise the qualifications of each application, and if they meet the criteria, the project may be awarded to the respective cooperative.

Saarani highlighted that the state government is planning to develop the Lumut Maritime Industrial City and the Automotive High Tech Valley and expressed confidence these projects will succeed due to support from the federal government.

“Therefore, I want cooperatives not only to see the opportunities from these projects but also to have the strength, preparation and expertise to capitalise on them,” he said.

He also urged all cooperatives in the state to focus on applying for high-impact projects rather than relying solely on small-scale businesses to generate income.

-- BERNAMA