Malaysia Madani a defining culture for Malaysians

26 March 2024

By Nabalu News Journalist

KOTA KINABALU: Fifteen mosques and suraus with 26 recipients in the Sepanggar area were the beneficiaries of contributions by Datuk Ewon Benedick Minister of Entrepreneur Development and Cooperatives (MEDC) in Sepanggar recently.

He was represented by Tan Sri Datuk Sri Bernard Giluk Dompok, Chairman of SME Corporation Malaysia during the event held in conjunction with the breaking of fast.

During the event, he shared that the certificates of registration have been handed over to two newly registered cooperatives, namely Koperasi Usahawan Maju Progresif Sabah Berhad and Koperasi Wartawan Sabah Berhad.

According to him, the implementation of several programmes organised by the MEDC agencies has successfully increased the number of cooperative registrations in Sabah.

Last year, a total of 157 cooperatives were registered and overall, a total of 1,001 cooperatives were successfully registered nationwide last year. This shows positive progress in increasing public confidence in the cooperative movement.

“The cooperative movement aims to contribute to the country's economic development. Despite facing uncertain economic conditions, the cooperative sector is still seen as relevant to the community and has made significant contributions, especially in assisting the government in addressing the cost of living for the people,” he said.

Until June 2023, a total of 15,556 cooperatives with a membership of 7.25 million people were registered. The recorded share capital and fees amount to RM17.47 billion, with a total accumulated asset value of RM162 billion. The achievements of the cooperative movement have generated an income of RM30.99 billion.

“From that total, the state of Sabah has achieved positive results in the cooperative movement, with 1,765 registered cooperatives and a membership of 361,126 people. The accumulated share capital and fees amount to RM244.10 million, and the accumulated assets are valued at RM868.35 million. The total revenue from these cooperatives is RM329.65 million,” he said.

Out of the total cooperatives, there are 72 registered cooperatives in the Sepanggar Parliament constituency, with a membership of 12,792 people, and he believes this number will continue to increase over time.

On the breaking of fast event, he said the, the collective spirit demonstrated by all presents valuable opportunity for interaction, information exchange, and fostering mutual understanding within the extended family in this era of Malaysia Madani.