KOTA KINABALU: There are 14,975 cooperatives in the country which generate a combined income of RM22.4bil, says Ewon Benedick.
The Entrepreneur Development and Cooperatives Minister said with a total membership of over seven million, the contributions of the cooperatives movement through the collection of share capital and fees, was as much as RM16.5bil with asset generation amounting to RM156.2bil.
"In the beginning, the main aim of the cooperatives movement was to solve the issues of rural farmers who were oppressed by middlemen under the padi value chain system as well as the problem of debts among civil servants in the city. Elaborating further, Ewon said on realising how important the cooperatives sector is in helping to eradicate poverty and build the community's economy, the ministry will continue to improve the public's understanding of the function and concept of cooperatives through Maskop.
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