Sarawak Cooperatives Receive Rm4.48 Mln Boost From Skm -- Awang Tengah

KUCHING, July 13 (Bernama) -- Cooperatives in Sarawak have received RM4.48 million in Revolving Capital Fund and cooperative development assistance from the Malaysia Co-operative Societies Commission of Malaysia (SKM) this year.

Sarawak Deputy Premier and Minister of International Trade, Industry, and Investment, Datuk Amar Awang Tengah Ali Hasan, said that 17 cooperatives have been approved to receive this funding and assistance from SKM.

“With this support, we are confident that Sarawak cooperatives will be able to enhance their management capabilities, enabling them to improve the quality and increase the exposure for their products and services in the global market," he said.

Speaking at the State-level 2024 National Cooperative Day in Sarawak today, he highlighted that there are currently 1,190 cooperatives in the state, with over 313,000 members, generating RM368.97 million in revenue as of December 2023.

"This year, five cooperatives from Sarawak have been listed in Malaysia's Top 100 Cooperatives Index, with a combined revenue of RM93.5 million," he added.

Awang Tengah also expressed his hope that the cooperative movement in Sarawak will continue to strengthen through close cooperation between the Federal and state governments.

“With this collaboration, the cooperative movement in Sarawak can continue to grow, significantly impacting local socio-economic development," he said.

He noted that Sarawak cooperatives also play a crucial role in developing local entrepreneurs by providing financial support, training, and skill development.

"The state will also set up a monitoring, promotion, and participation platform for entrepreneurial programmes in Sarawak, known as the Sarawak Entrepreneur Database by 2025," said Awang Tengah.

He added that the platform aims to ensure that entrepreneurial development programmes and assistance reach the right target groups effectively.

-- BERNAMA