Melaka:The national cooperative sector in Malaysia is anticipated to achieve a revenue of RM100 billion this year, propelled by positive growth along with enhanced membership and capital accumulation.

According to BERNAMA News Agency, as of December 31 last year, the sector reported a revenue of RM81.6 billion and total assets amounting to RM186.75 billion. There were 16,468 cooperatives recorded nationwide, with accumulated share capital and fees reaching RM18 billion. These statistics underscore the significant role and impact of the cooperative movement in economic development and community well-being.

This announcement was made by Malaysia Cooperative Societies Commission (SKM) CEO Mohd Marzuki Yasoa' following the 'Cooperative Movement Appreciation 2026' launch at the Melaka State Level, officiated by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh. Mohd Marzuki emphasized the focus on encouraging cooperatives to engage in the food security sector, a current priority given global conflicts and their potential impact on food supply.

Additionally, the cooperative movement is being urged to explore opportunities in digitalization and artificial intelligence industries, aligning with technological advancements. The government supports this growth through financial assistance, including a revolving capital fund of RM50 million for the year, though only RM22 million has been disbursed so far. Cooperatives in need are encouraged to apply for the 21 types of assistance available to address any constraints and ensure continued growth.

The event also featured the launch of the 'Melaka State Cooperative Movement Profile Book 2026,' highlighting the profiles of 35 of Melaka's best cooperatives.