Published on: Wednesday, October 30, 2013
Kota Kinabalu: About 978 co-operatives had been registered in Sabah as of December 2012, said Datuk Yusof Samsuddin, Maktab Koperasi Malaysia's Board of Director Chairman.
"This involves 293,539 members, a total of RM3.33 million shares, assets worth RM510 million and a generation of annual income/return of RM276.7 million," said Yusof at an event at Tabung Haji's hotel, here, Monday.
The event was held in conjunction with a seminar entitled: "Koperasi Pemangkin Kesejahteraan Masyarakat".
Meanwhile, on co-operatives in Malaysia, he said that they have managed to reach an encouraging increase in 2012 compared to 2011.
"In terms of the number of co-operatives, the increase is 11.2 per cent, in terms of shares and fees are 11.6 per cent, assets (8.2 per cent) and income generation of 34.7 per cent.
With this, at the end of 2012, about 10,807 co-operatives were registered in Malaysia which is equivalent to 7.03 million people, shares of RM11.71 billion, assets worth RM100.41 billion and an income generation of RM31.10 billion.
"Such increase can be seen because 33 co-operatives in the micro and medium clusters have made it to the larger clusters.
"Each of these co-operatives has successfully generated an income/return of more than RM5 million per year."
Meanwhile, Yusof is confident that co-operatives in the country are able to assist other co-operatives within Asean countries through the Asean Economic Community (AEC).
"The government has also allocated RM11 million to help co-operatives financially."