Perak Indigenous cooperatives generated RM2.27 million revenue 2023

8 April 2024

By Nabalu News Reporter

IPOH: Perak Indigenous Association and the Perak Indigenous Cooperative generated a total revenue of RM2.27 million, with assets and shares/fees amounting to RM2.4 million and RM377 thousand respectively.

The Perak Indigenous Cooperative itself consists of 178 operators, with recorded earnings of RM71 thousand in the previous year.

Carl Mosoom the political secretary to the Minister of Entrepreneur Development and Cooperative (MEDC) Datuk Ewon Benedick said this during the closing of the UPKO Mini Convention in conjunction with the Entrepreneur Talk and Indigenous Operator Programme in Perak.

He said the Perak State Cooperative Commission informed him that there are 30 registered Indigenous cooperatives in Perak, with a total of 2,543 operators.

Speaking on behalf of the Minister, Carl said it can be observed that the majority of Indigenous entrepreneurs and cooperatives in Perak are involved in eco-tourism and agriculture activities, which are synonymous with the daily activities of the Indigenous communities. This was mostly because Indigenous settlements are mostly located in strategic areas rich in natural resources.

“I recommend that you seize the current opportunity to independently manage your business activities, avoiding intermediaries who may exploit economic opportunities in your area. Engaging in training programmes offered by reputable agencies like the Malaysian Cooperative Institute, the Perak Entrepreneur Secretariat, and other relevant organisations can equip you with valuable knowledge in business and entrepreneurship,” he said.

“For existing cooperatives, it's important to consider the financing facility provided by the Malaysia Cooperative Commission's Tabung Modal Pusingan Suruhanjaya Koperasi Malaysia (TMPSKM), offering up to RM30 million with profit rates ranging from 1% to 6% based on the financing amount. I encourage all participants to take advantage of this opportunity promptly, as the rates offered are significantly lower compared to other financing options. This initiative by MEDC, through SKM, aims to diversify business activities for cooperatives.”

The Perak State Government's allocation in the 2024 budget demonstrates its commitment to the Indigenous community. Funding opportunities are available for the community, Indigenous entrepreneurs, and cooperatives, including allocations for Indigenous Development (RM1 million), Entrepreneur Fund Loan Program (RM2 million), and Entrepreneur and Cooperative Development (RM1 million).

“It is evident that both the Federal and State Governments prioritize the socio-economic development of the Indigenous community,” he said adding that he also suggests that cooperatives and entrepreneurs explore high-impact economic sectors to generate continuous income, create job opportunities, and provide broader benefits to members and the Indigenous community. Participation in these sectors can lead to increased income and profits for cooperatives.

He also encouraged them to take advantage of the current opportunity to manage their business activities independently, without relying on intermediaries, in order to avoid them taking advantage of the economic opportunities available in their area.

“They can participate in training programmes organised by relevant agencies such as the Malaysian Cooperative Institute, the Perak Entrepreneur Secretariat, and various other agencies to gain knowledge in business or entrepreneurship.”

Meanwhile, TEKUN Nasional has introduced the Indigenous Financing Scheme (SPORA) to provide financing to micro entrepreneurs within the Indigenous community, aiming to support the development and growth of their businesses. The eligible business activities under this scheme encompass Agriculture and Livestock, Retail, Forest products, Honey production, and Handicrafts. The financing amount available ranges from RM1,000 to RM100,000.

In Perak alone, a total of 109 Indigenous entrepreneurs have been supported through SPORA, receiving a cumulative financing amount of RM904,000. The distribution of this financing across various Indigenous branches is Gerik - 10 entrepreneurs with RM82,000, Gopeng - 12 entrepreneurs with RM73,000, Kuala Kangsar - 3 entrepreneurs with RM15,000, Parit - 11 entrepreneurs with RM133,000, Taiping - 2 entrepreneurs with RM8,000, Tambun - 24 entrepreneurs with RM138,000, Tanjung Malim - 16 entrepreneurs with RM206,000 and Tapah - 31 entrepreneurs with RM249,000.

Additionally, TEKUN has extended financing assistance to four (4) entrepreneurs from Eko Jerawok, amounting to RM94,000. Apart from the SPORA scheme, TEKUN Nasional offers financing to specific groups through schemes such as Financing Scheme for the Disabled, Sports Industry Financing Scheme, Craft Entrepreneur Financing Scheme, Second Chance Financing Scheme, and Security Personnel Financing Scheme (former military personnel).

Under the leadership of Datuk Ewon Benedick as the Minister of Entrepreneurship and Cooperative Development from December 2022 to February 2024, TEKUN Nasional has disbursed a total financing amount of RM1,196,833,000 to support 56,452 entrepreneurs, he stated.- ends