KOTA BARU, April 15 — Cooperatives nationwide have been recommended to immediately grab the opportunity to venture into the field of agro-food in an effort to help the government increase food production.
Cooperative Commission of Malaysia (SKM) deputy executive chairman Datuk Umar Sarim Saidin said the Entrepreneur Development and Cooperatives Ministry (Kuskop) has allocated a total of RM100 million to finance interested cooperatives.
“Any cooperative that is interested is eligible for funding of up to RM3 million for that purpose. It is open to all types of cooperatives, including small, medium and large cooperatives.
“So far, only a small number of cooperatives are involved in the food production sector compared to the overall total of 15,318 registered cooperatives. If possible, we want the allocation to be fully utilised this year,” he told reporters at the 2022 Malaysia’s Best Cooperative Recognition ceremony, here, today.
Five Kelantan cooperatives managed to be listed among the 100 best cooperatives nationwide and 12 others made it to the top 350 cooperatives at the ceremony.
Koperasi Wawasan Malaysia Berhad (Kowamas) was declared the best cooperative in Kelantan after coming out fourth in the list of top 100 cooperatives nationwide.
Umar Sarim said the selection was made in terms of the cooperatives’ finances in addition to asset governance, annual income, prudent spending and the cooperatives’ concern for members and the community.
He said small and medium cooperatives can redouble their efforts to be placed in the top 100 cooperatives to enjoy various financing from Kuskop. — Bernama
