MELAKA, March 8 — The 13,900 cooperatives operating in the country have recorded a share subscription of RM12 billion and had assets valued at RM138 billion as of January this year.

Cooperative College of Malaysia (MKM) Director General, Prof Madya Dr Abdul Rahman Abdul Razak Shaik said the figures are very big in respect of enhancing the income of about seven million cooperative members.

"The establishment of cooperatives has provided major benefits to members towards reducing the current cost of living, apart from assisting them in increasing their income and that of the country. 

"However, cooperatives need to be managed in an organised and comprehensive manner, while widening the scope of economic activities that can boost their income,” he told reporters here after the closing of the Cooperatives Human Capital Sustainability: Basic Practices of Cooperatives programme.

It was officiated by Deputy Minister of Science, Technology and Innovation (MOSTI), Datuk Dr Abu Bakar Mohamad Diah.

Elaborating further, Abdul Rahman said the elements of cooperation, particularly compromises among cooperative members, was important in ensuring the smooth management and administration of their cooperatives.

Other than this, he also said, knowledge and exposure to cooperative management and administration was also a key factor in ensuring the success of a cooperative.

"The government is making available various facilities and training, especially through MKM towards enhancing the human capital of cooperatives via short and long term courses, diploma, degree programmes, professional certificates and online courses, along with round table discussions.

"It is also being offered to members at a lower cost compared to the current market through the provision of subsidies by the government,” Abdul Rahman added.

He said one of the initiatives was also the  Cooperative Human Capital Sustainability Programme implemented under the National Blue Ocean Strategy with the cooperation of the Domestic Trade, Cooperatives and Consumerism Ministry, as well as the Cooperative Commission of Malaysia.

According to Abdul Rahman, through the programme, MKM aims to train 40,000 cooperative members from throughout the country this year.

Meanwhile, he said MOSTI was encouraging cooperatives wanting to commercialise products produced by their members to do so using the Social innovation Fund provided by it.

"To date, only one or two cooperatives have applied to MOSTI through the fund,” he added.

Abdul Rahman said the method of commercialising products by cooperative members was a way to drive income for the organisations. — Bernama