MIRI: Grants totalling RM278,000 were disbursed to cushion the impact of the Covid-19 pandemic on cooperatives in Miri Division last year.
This included disaster assistance amounting to RM13,000 to cooperatives in the Baram area, disclosed Cooperative Commission of Malaysia (SKM) Miri senior assistant director Lily Fawziah Adnan.
She told the media this after the launch of the ‘Bicara Ilmu Rahsia Borong Online Luar Negara’ programme. More that 100 people attended.
“Cooperatives affected by the pandemic can also apply for the Revolving Fund (TMP SKM) loan through Covid-19 Special Financing, up to RM200,000.”
The ‘Bicara Ilmu Rahsia Borong Online Luar Negara’ was launched by Cooperative Institute of Malaysia (CIM) director Dato Mohd Ali Mansoor here on Tuesday (Feb 15).
Earlier, Mohd Ali disclosed that CIM was committed to helping cooperatives nationwide cushion the impact of Covid-19.
He added that together with the Ministry of Entrepreneur Development and Cooperatives (Medac) and SKM, they would strive to ensure that the cooperative movement continues to remain competitive.
“We also wanted to ensure that the cooperatives are not left behind in mastering the knowledge and skills of cooperative business management.”
He asserted that in order to withstand the pandemic’s impact, the business model needed to be reviewed, with new ideas implemented according to the current situation.
This year, he said, in conjunction with the 100th year of the cooperative movement in Malaysia, CIM had been entrusted by the government to assist micro businesses.
“Through various government policies, we are targeting revenue from cooperatives of up to RM100bil by 2030.”
According to data, there are 14,629 registered cooperatives in Malaysia, with a membership of 6.51 million.
“Cooperatives in our country have generated revenue of RM41.5bil with accumulated assets of RM150bil, while in Sarawak, the number of cooperatives has reached 1,077 with a membership of 283,258.”
