By Jaythaleela K
MIRI, Feb 15: The Co-operative Institute of Malaysia (CIM) is committed to assisting cooperatives nationwide, including those in Sarawak, in cushioning the impact of Covid-19 and natural disasters such as the recent floods via grant distribution.
CIM director Dato Mohd Ali Mansor said, together with the Ministry of Entrepreneur Development and Cooperatives (MEDAC) and the Cooperatives Commission of Malaysia (SKM), CIM has always strived to ensure that the cooperative movement in Malaysia continues to remain competitive in a constantly changing business environment.
“We also want to ensure that the cooperatives are not left behind in mastering the knowledge and skills of cooperative business management,” he said earlier today in Miri after launching the ‘Bicara Ilmu Rahsia Borong Online Luar Negara’ programme.
He added, that CIM always strives to formulate various programmes to strengthen the cooperative movement.
“The Covid-19 pandemic has caused various sectors of the economy to face difficulties, and cooperatives are not exempted from facing the impact when continuing their business activities,” Mohd Ali pointed out.
He added, throughout the Movement Control Order (MCO), economic sectors which used to generate huge profits, have suffered losses.
“Most business owners are not prepared to face this situation which can make them emotionally depressed, compared to before the pandemic when opportunities to generate sales may be easier to get, but during the crisis, businesses are struggling to survive,” he told more than 100 participants at the programme.
Therefore, business models need to be reviewed, with the structuring and merging of new business ideas implemented according to the current situation, he added.
Mohd Ali said that this year, in conjunction with the 100th anniversary of the cooperative movement in Malaysia, CIM has been entrusted by the government to assist micro businesses and strengthen the sector.
“Via various policies by the government in strengethening the cooperatives nationwide, we target revenue from the Cooperatives movement of up to RM100 billion by the year 2030,” he said.
Based on statistics, there are 14,629 registered cooperatives in Malaysia, with membership of 6.51 million people nationwide.
“Cooperatives in our country have generated revenue of RM41.5 billion with an accumulated asset value of RM150 billion, while in Sarawak, the number of cooperatives has reached 1,077 with a membership of 283,258 people,” he added.
Meanwhile, according to Cooperative Commission of Malaysia Miri Division senior assistant director Lily Fawziah Adnan, the total assistance disbursed in Miri Division amounted to RM278,000.
“This includes disaster aid amounting to RM13,000 to cooperatives in the Baram area,” she said.
She added that cooperatives affected by the Covid-19 pandemic may also apply for a Revolving Fund (TMP SKM) loan through Covid-19 special financing, up to RM200,000. — DayakDaily