Accra:Sabah Sixteen co-operatives in Sabah have been awarded development assistance totaling RM1.19 million from the Malaysia Co-operative Societies Commission (SKM) for 2026. This funding aims to bolster the co-operative movement's growth within the state.

According to BERNAMA News Agency, Sabah Deputy Chief Minister III, Datuk Ewon Benedick, who also serves as Minister of Industrial Development, Entrepreneurship, and Transport, announced an additional RM5.3 million allocated through the SKM Revolving Capital Fund initiative, aiding two co-operatives. The State Government's MINDET Special Co-operative Development Fund also provided grants to two co-operatives in its first phase.

Following the inauguration of the COOPFEST Borneo 2026 event at Suria Shopping Mall, Ewon shared plans to allocate funds in the Sabah Budget 2027 to enhance co-operative development further. COOPFEST Borneo is envisioned as a recurring event to foster co-operative networks in Sabah and Sarawak.

Ewon highlighted the event's role in expanding business networks for co-operatives by creating opportunities in supply chains, expertise sharing, and market growth. He encouraged collaboration in agriculture, food, tourism, handicrafts, and services sectors.

This inaugural event gathers 30 co-operatives from Sabah and Sarawak, along with 10 entrepreneurs from TEKUN and Amanah Ikhtiar Malaysia (AIM), with around 2,000 visitors anticipated over the three-day duration.

Ewon emphasized the growth potential for Sabah's co-operatives, which include 2,047 organizations with 388,683 members, assets of RM1.172 billion, and a turnover of RM913.33 million as of December 2025. The state government aims to enhance co-operative capabilities through development assistance, training, and market support.

The MINDET Special Entrepreneurship Development Fund, with a RM1 million allocation this year, has extended its reach to include co-operatives, with two already benefiting. Deputy Minister of Entrepreneur Development and Co-operatives Datuk Mohamad Alamin and MINDET deputy permanent secretary Moira David were also present at the event.