Kuala lumpur: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) will introduce a new Bill in Parliament this year aimed at enhancing governance and integrity within the national cooperative movement. Minister Steven Sim Chee Keong emphasized that the Bill will involve a review of existing Acts, with a focus on improving management practices to bolster transparency and accountability.

According to BERNAMA News Agency, the initiative is crucial to prevent misappropriation and to build confidence in cooperative institutions. The proposed Bill was a key topic during the National Cooperative Consultative Council (MPKK) meeting held at Menara Kembar Bank Rakyat, chaired by Sim.

Sim stated that the review of relevant Acts is designed to align with good governance practices, thereby preventing governance-related issues. He also mentioned a proposal for cooperative leaders to undergo specific training, akin to the courses required for corporate board directors on governance and integrity.

The drafting of the new law is currently under review by the Attorney General's Chambers. In the past, the Malaysian Anti-Corruption Commission (MACC) disclosed that it had initiated over 300 investigation papers involving cooperatives since 2020, resulting in the detention of more than 70 individuals to aid investigations into misappropriation and abuse of power.