KUCHING: Cooperatives in country earned RM33.56 billion last year, said Second Minister of Resource Planning and Environment and Minister of Industrial and Entrepreneur Development,Trade and Investment, Datuk Amar Awang Tengah Ali Hasan (pic).
He revealed this when officiating at the closing ceremony of a Business Matching Seminar and launching of Ez-Pump Product at Imperial Hotel, here on Tuesday.
“82 per cent of the total income came from financial service activities such as credit activities and Co-op Bank. Among the best Co-operatives in Malaysia is Koperasi Permodalan Felda Malaysia Berhad which has a total of 270,000 members, RM6.25 billion in assets and earned RM1.06 billion in revenue last year.
“The activities implemented are financial services, investment, consumerism, property and farming which benefit the members who are mostly settlers of Felda Schemes nationwide,” said Tengah.
During the seminar Ez-Pump Product from Vocational College Cooperative Kuching Berhad was also launched.
The Ez-Pump was produced by Kuching Vocational College students and supported by their lecturers.
“This product has participated in Bumiputera Initial Equity Scheme Programme (SUPERB) organised by Bumiputera Agenda Steering Unit of the Prime Minister’s Department with 700 early participation from schools, higher learning institutions, and youth associations nationwide.
“This cooperative managed to receive a RM500,000 research and development (R&D) grant though its effort and members’ cooperation and marketing the product.
“This achievement should become an inspiration to all entrepreneurs and co-operatives to be more creative, innovative and grab the opportunities provided to improve their existing business activities,” he said.
The one-day seminar was attended by co-operative members from Kuching, Samarahan, Bau and Serian.
Four talk sessions were conducted namely Financial Management, Cooperative Business Opportunity in Tourism Industry, Gold Investment as an Alternative and Hyraz Oil, a Business Opportunity.
Also present were Assistant Minister for Entrepreneur Development and Assistant Minister for Resource Planning, Datuk Mohd Naroden Majais and Director of Malaysia Co-operative Commission Sarawak Branch, Osman Ismail.
