Kuala lumpur: Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa) is ready to assist government retirees, particularly retired armed forces personnel, in establishing cooperatives as a platform to create economic opportunities and boost their income. Its president Datuk Seri Dr Abdul Fattah Abdullah announced the initiative, emphasizing the comprehensive support and assistance available, including training, education, financial advice, and access to new market opportunities through both domestic and international networks.
According to BERNAMA News Agency, Dr Abdul Fattah highlighted the potential for former military personnel to engage in businesses related to military services or facilities-a sector they have not extensively explored. He noted that these retirees have significant expertise in the defence sector and could become suppliers of military assets and services. This includes the maintenance of military trucks, tanks, and artillery, which could lead to collaborations with the Defence Ministry and the government, ultimately benefiting cooperative members.
Dr Abdul Fattah shared these insights following the presentation of essential items through the Projek Barang Asas (BA100) initiative to members of the Malaysian Armed Forces Veterans Association (PVATM) Tangga Batu Branch. This event was part of the Coop Care Angkasa Corporate Social Responsibility (CSR) programme. He explained that cooperatives offer retired military personnel a viable means to generate income, noting that not all retirees receive pensions sufficient to support their livelihood.
Beyond the military sector, Dr Abdul Fattah suggested that retired personnel could establish cooperatives in areas such as retail, modern agriculture, logistics, food production, community development, rural tourism, and social entrepreneurship. He referenced the Malaysian Cooperative Statistics Report released last year by the Malaysia Co-operative Societies Commission, which indicated that retirees were registered in 173 cooperatives, with a total membership of 19,065. These cooperatives recorded shares or fees amounting to RM11.2 million, with assets of RM60.84 million and revenue of RM12.99 million.