KUSKOP Channels RM1.03 Mln To Strengthen Cooperatives In Penang
BUKIT MERTAJAM, March 13 (Bernama) -- The Ministry of Entrepreneur and Cooperative Development (KUSKOP) today disbursed RM1.03 million in assistance and contributions to strengthen the role of cooperatives as a driver of the people's economy in Penang.
Its Minister, Steven Sim Chee Keong, said the aid, channelled through the Cooperatives Commission of Malaysia (SKM), is aimed at strengthening cooperatives’ economic activities and enhancing their ability to generate income for members.
"As the minister responsible for safeguarding the welfare of small and medium enterprises (SMEs), I’m aware that the government needs to act fast in facing the uncertain global geopolitical challenges.
"The conflicts in Ukraine, Gaza and the tensions between the United States and Iran have definitely had an impact on us. As such, since I began duty in January, I have announced various funding and financing specifically for SMEs, hawkers and petty traders so that they remain competitive,” he said at the Coop Talk: Minister and Bukit Mertajam Community 2026 programme here today.
Of the RM1.03 million contribution announced today, RM786,420 was allocated under the Revolving Capital Fund financing to Koperasi Pekebun Getah Negeri Pulau Pinang Berhad.
In addition, assistance from the Supply Chain Empowerment for Cooperatives Programme (SCOPE) totalling RM200,000 was also given to Koperasi Kariah Masjid Ibadur Rahman Kepala Batas Pulau Pinang Berhad to strengthen community economic development.
Also present were SKM chief executive officer Puan Noor Afifah Abdul Razak and Penang SKM branch director Dr Zainab A Raman.
At the event, Sim, the Bukit Mertajam Member of Parliament, also presented corporate social responsibility (CSR) contributions in the form of food baskets worth RM5,000 to 50 asnaf students and school general workers.
To support learning facilities, SMK Taman Sejahtera also received a donation of RM1,000 and two television sets.
Ahead of the Aidilfitri celebration, he also presented a Raya CSR contribution of RM33,000, which was distributed to 21 active mosque cooperatives in Penang, as well as 12 school cooperatives in the Bukit Mertajam parliamentary constituency to help members of the B40 group.
Commenting on the performance of the cooperative movement in the state, Sim said that as of Dec 31, 2025, there are 819 cooperatives in Penang, with 171,713 members.
"This movement has assets worth RM1.29 billion, with earnings of RM848.90 million, thereby proving that cooperatives continue to play a crucial role in the community economy, in line with the aspirations of the National Entrepreneurship Policy 2030 (DKN2030),” he said.
-- BERNAMA
