SERIAN: The cooperatives in the Serian Division are the most engaged in wholesale and retail activities, where nearly 70 per cent of the 72 registered cooperatives in the division are involved in retail activities.
Disclosing this, Deputy Minister of Entrepreneur Development and Cooperatives Senator Saraswathy Kandasami hoped that the cooperative movement in the division would continue to progress and develop.
With the assistance of development funds amounting to RM1.175 million allocated from 2022 to 2023 to cooperatives in Serian, she was confident that it would further aid in community economic development through the cooperative movement.
“Our Ministry, through the Cooperative Commission of Malaysia (SKM), will always be ready to assist cooperatives with strong business potential to expand their business networks.
“The diversity and development of business activities within a cooperative will lead to an increase in the cooperative’s annual income, which will yield high returns to its members and also contribute to the country’s economic development,” she added.
Saraswathy said this when officiating at the Community Economic Development through the Cooperative Movement programme and the launch of Coopmart Koperasi Ampungan Serian Berhad here today.
For record, according to data compiled by the SKM Sarawak Branch, as of December 31, 2022, there were a total of 1,159 cooperatives operating in Sarawak.
These cooperatives boasted a membership exceeding 310,125 individuals and collectively possessed assets valued at approximately RM647.5 million.
Furthermore, their combined earnings surpassed RM392.6 million.
Similarly, during the same period, the Serian Division could account for 58 distinct cooperatives, catering to a membership exceeding 14,000 individuals.
These cooperatives held a cumulative share capital of RM921,000, while their consolidated assets were valued at RM11.25 million.
Impressively, these cooperatives achieved a total revenue of RM24 million.
She stated that based on existing membership data, cooperatives have a role in helping to reduce the cost of living for the people.
Moreover, she said that the cooperative movement can dominate a portion of the wholesale and retail markets, especially in the bulk supply chain system of essential goods, through its comprehensive and integrated ecosystem.
“If all wholesale and retail sector cooperatives move proactively and cohesively as a movement, each member will also benefit, including an enhancement of socio-economic status, greatly impacting the economy of the people and the country.
“This is because the local cooperative sector offers opportunities for the local community to generate additional income by becoming members and shareholders of these cooperatives, which also act as marketers for the output of their members.
“This positive development indicates that our society is increasingly accepting and believing that cooperatives are a business entity capable of enhancing income and the economy of the residents,” she said.
Also present at the event were Batang Sadong Member of Parliament Rodiyah Sapiee, representative to Puncak Borneo MP Peter Apit, deputy executive chairman (Operation and Monitoring) Cooperatives Commission Malaysia Siti Azlin Ahmad Dauta, and Resident of Serian Caroline Cleophas Joseph.
