Sabahans’ confidence in cooperatives rising, says DCM

As of June 30, there were 1,410 registered cooperatives with a total of 318,891 members in Sabah, says deputy chief minister Yahya Hussin.

Yahya Hussin (centre) handing over a development grant cheque to a representative of a cooperative in Kota Kinabalu today (Photo courtesy Sabah agriculture and food industry ministry).

KOTA KINABALU: Sabahans’ confidence in the ability of the cooperatives sector to raise their socio-economic welfare is on the rise, says Sabah Deputy Chief Minister Yahya Hussin.

He said the increasing number of applications to form a cooperative was proof of the people’s belief in them.

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“As of June 30, there were 1,410 registered cooperatives with a total of 318,891 members in Sabah.

“Share capital and accumulated fees stood at RM169.6 million while assets were at RM774.5 million.

“Proceeds made in the first half of the year stood at RM199.1 million, which translates into 61.2% of the total proceeds of RM323.8 million achieved last year.”

Yahya was speaking at a state Cooperative Consultation Council (MPKN) meeting here today.

Yahya, who is also MPKN chairman, said the latest figures proved the awareness programmes implemented by the Malaysia Cooperatives Commission had opened people’s minds.

He also expressed the desire to see Sabah cooperatives become more sustainable, competitive and able to run businesses with potential.

Yahya, who is also state agriculture and food industry minister, said cooperatives in Sabah were fortunate as the government, under Chief Minister Musa Aman, had given them a chance to benefit from the state’s annual budget for the first time next year.

“A fund in the form of easy loans worth RM10 million has been provided to the Sabah Government Employees Cooperative Society, while another RM3 million has been put aside as a development grant for new cooperatives,” he said.

Yahya said the development showed the sector could help ease the cost of living for low income earners, especially those in the B40 (bottom 40) category.

During the meeting, Yahya also handed over a development assistance cheque for RM40,000 to the Kota Belud Dehamboi Gunsak Family Cooperative Society and another for RM50,000 to the Sabah Kota Belud Karanahan Cooperative Society. -FMT