Ramanan Urges New Sabah Cooperatives To Tap KUSKOP Initiatives

KOTA KINABALU, Nov 8 (Bernama) -- The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) is urging new cooperatives in Sabah to fully utilise its initiatives and facilities to strengthen the state’s cooperative ecosystem.

Deputy Minister Datuk Seri R. Ramanan said the push should go hand in hand with transparent operations, integrity and compliance with governance rules.

Speaking after launching the Sabah New Cooperatives Governance Advocacy and Strengthening Programme today, he said small grants are available, but only to cooperatives that comply with the Malaysian Co-operative Societies Commission (SKM) regulations.

The SKM-led programme drew 60 cooperatives and 200 participants from across Sabah.

Ramanan also highlighted initiatives including the Skim Pembiayaan Usahawan Tamu (SPUT), TEKUN Nasional Craft Industry Financing Scheme, Projek Premis Tamu Desa, Cooperative Development Grants and SKM Revolving Fund Financing.

Since Malaysia’s first cooperative was established on July 21, 1922, the sector has grown to 16,284 active cooperatives nationwide with over seven million members, generating annual revenue of RM68.18 billion, of which Sabah contributes RM774 million.

-- BERNAMA