KUALA LUMPUR: The new Cooperatives Act, designed to replace the Co-operative Societies Act 1993 (Act 502), is anticipated to be presented in Parliament next year, as announced by Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick. The minister highlighted that the drafting process, which involves a comprehensive engagement with all stakeholders including the nation’s 16,000 cooperatives, is currently in the stage of engaging with target groups.
According to BERNAMA News Agency, Minister Ewon stated that discussions are still ongoing at the policy-making level, involving various officers, target groups, and stakeholders. He emphasized the importance of including the cooperative movement in these discussions. The minister aims to submit the draft policy to the Cabinet by the end of this year, with plans to present the comprehensive draft of the new act to Parliament next year.
Minister Ewon shared these updates with reporters after inaugurating the Rubber Park @KLCC project at Kompleks
Bangunan Getah Asli, an event also attended by Koperasi Lembaga Getah Malaysia Berhad (Kopget) chairman Muhd Fandy Zainal Abidin. Previously, the media had reported Ewon’s remarks that 96 provisions from Act 502 would be restructured and improved, with approximately 200 new amendments expected to be included in the new legislation.
In addition to legislative updates, Minister Ewon expressed confidence in the Rubber Park @KLCC project, viewing it as a significant boost to tourism and commercial activities around the Jalan Ampang intersection. He described Kuala Lumpur as a major tourist attraction and predicted that the Rubber Park @KLCC would soon become a popular spot for both locals and visitors, enhancing the city’s appeal as a destination for leisure.
The Rubber Park @KLCC project, developed through a strategic partnership between Koperasi Profesional Putrajaya Berhad (Koprojaya) and Kopget, includes various business units such as a Sports Rehabilitation and Physiotherapy Clinic (ProPain), convenience s
tores, food outlets, and souvenir shops. This initiative aims to cater to local requirements within the Golden Triangle area of Kuala Lumpur.