KOTA KINABALU, July 22 — The cooperative movement in Sabah is capable of playing a significant role in helping the government eliminate hardcore poverty in the state, said Chief Minister Datuk Seri Hajiji Noor.
He said Sabah has 1,707 cooperatives registered under the Malaysian Cooperative Societies Commission (SKM) with 350,000 members, the second highest in the country.
“This indicates that the cooperative movement in Sabah has made a significant contribution as an agent of socioeconomic growth, which can help eradicate hardcore poverty,” he said when officiating the National Cooperative Day at the Sabah International Convention Centre here today.
Also present was Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
Hajiji said four cooperatives from Sabah were also listed in Malaysia’s 100’s Best Cooperative Index last year, namely Koperasi Pembangunan Usahasama Masyarakat Maju Sabah Berhad, Koperasi Kakitangan Sawit Kinabalu Sabah Berhad, Koperasi Borneo Malaysia Berhad and Koperasi Usahawan Tawau Berhad.
Meanwhile, Ewon in his speech said there are currently 15,315 registered cooperatives across the country, with approximately 7.3 million members.
He said the cooperative movement had diversified its business activities to meet the evolving demands of society and technological advancements, which led to an increase in the collection of share capital and fees, amounting to RM17 billion, as well as asset generation of RM160 billion and revenue of RM45.5 billion in 2022. — Bernama
