KUALA TERENGGANU, Aug 10 — Cooperatives in the country have assets worth RM109.7 billion and raked in revenue of RM32.9 billion last year.

President of National Cooperative Organisation of Malaysia Bhd (Angkasa), Datuk Abdul Fatah Abdullah, said the statistics showed that the co-ops had achieved a lot and the sector was able to provide services to the people.

“I am confident the co-ops will be able to continue to be the effective engines of economic growth for the nation,” he said.

Abdul Fatah said this at the opening of Angkasa new building here and Hari Raya Open House here today.

Also present was State Entrepreneurship, Rural Development, Consumerism and Cooperatives Committee Chairman, Roslee Daud.

He said other than offering loans which repayments via salary deduction, Angkasa has also a subsidiary, MyAngkasa Holdings Sdn Bhd, which was involved in many high-impact businesses.

Among the companies were MyCoop Clixster, MyAngkasa Dialysis Centre, MyAngkasa Bina Sdn Bhd, MyAngkasa Akademi & Resort Langkawi, MyAngkasa Amanah Berhad and MyAngkasa Farmasi Sdn Bhd.

Abdul Fatah said many people had faith in the co-ops and many of them had recorded good returns.

Currently, there were over 11,000 co-ops in the country with over eight million members with fees/shares of RM12.8 billion, he said. — Bernama