KUALA LUMPUR, June 29 — To ensure that Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) does not become complacent in managing and developing co-operatives (co-ops) in the country, the government is mulling the setting up of a second “Angkasa” to give it competition.
Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof said this “shock treatment” would spur the co-operatives to explore opportunities provided by the government for the sector.
“The ministry must prod a little so that they would rise, run faster and think more broadly by continuing to explore opportunities offered at the national level,” he told reporters after launching Angkatan Koperasi Kebangsaan Malaysia Bhd’s (Angkasa) 34th annual national conference here today.
Mohd Redzuan described the co-op movement in the country as a “sleeping giant” due to its unexciting revenue per capita.
“I view the co-op movement, which has six million members, as a giant that is still asleep although they have the government’s support and funding.
“The co-op movement can be further developed through good leadership so it can increase its revenue and hence contribute to the nation’s economic growth,” he said.
Citing statistics released by the Malaysia Co-operative Societies Commission, he noted that the co-op sector generated revenue of RM40.31 billion last year.
In his speech at the conference earlier, Mohd Redzuan said if Angkasa’s co-op societies support the government and understand how to bring their vision in line with that of the government, the ministry would continue to support and strengthen Angkasa.
“We have recognised Angkasa as a statutory body and we are now studying whether to set up another statutory body to create competition to make Angkasa more effective,” he said.
This, Mohd Redzuan said, might spur the apex co-op organisation to wake up, stay alert and compete better in providing services.
“However, the proposal is still at the discussion stage and has not been finalised,” he added. — Bernama
