Kuala lumpur: The new Cooperative Bill is nearing completion and is slated to be introduced in Parliament this December, announced Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick. This bill will replace the Cooperative Societies Act 1993 (Act 502) to align with contemporary needs and bolster the development of Malaysia’s cooperative sector.

According to BERNAMA News Agency, the ministry and the Cooperative Societies Commission have engaged in 23 sessions with numerous stakeholders, including government bodies, premier cooperatives, federations, ANGKASA, academic institutions, and representatives from state administrations such as Sabah, Penang, Johor, Pahang, and Sarawak.

Minister Ewon stated that the ministry aims to have the new Cooperative Act officially gazetted by June 2026, with enforcement anticipated by November or December of the same year. He emphasized that the cooperative sector would be integrated into the country’s financial planning, including the upcoming Budget 2026, which is set for discussion in October.

Ewon highlighted the importance of the cooperative movement’s input in budget proposals, ensuring that the sector is duly considered in the financial planning for 2026. He remarked on the National Cooperative Consultative Council (MPKK) meeting, noting it serves as a pivotal forum for cooperatives to communicate their perspectives and suggestions to the government.

Additionally, Ewon shared the achievements of the 2025 National Cooperative Day (HKN’25), held from July 25 to 27 in Melaka. The event attracted over 58,000 visitors, surpassing the original target of 50,000, and generated nearly RM1.1 million in cooperative and entrepreneur sales, with a potential sales value estimated at RM22 million. This, he noted, underscores the significant economic impact of cooperatives and entrepreneurs through HKN’25.