Entrepreneur and Cooperatives Development Ministry, SKM ready to assist dormant cooperatives to recover

21 Jun 2023 12:51pm
Entrepreneur and Cooperatives Development Deputy Minister Saraswathy Kandasami - BERNAMA
Entrepreneur and Cooperatives Development Deputy Minister Saraswathy Kandasami - BERNAMA
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KUALA LUMPUR - The Entrepreneur and Cooperatives Development Ministry (Kuskop) said about 30 per cent of the total number of cooperatives in Malaysia are dormant.

However, Deputy Minister Saraswathy Kandasami said the affected cooperatives will be rendered assistance through the Cooperative Commission of Malaysia (SKM) regarding appropriate activities based on common needs, including support in terms of audit and accounting.

"Kuskop is identifying whether members or board members of these cooperatives still exist and why no activities are being carried out.

"After identifying, SKM will shut down cooperatives that are not operating and have no capital,” she said during an oral question and answer session at the Dewan Negara today.

Saraswathy was replying to Senator Amir Md Ghazali’s additional question about inactive cooperatives.

Earlier, in a response to Senator Koh Nai Kwong’s additional question regarding Malaysia’s first women’s bank, she said the ministry welcomes any cooperatives which meet the conditions for establishing such a bank.

Saraswathy noted that from January to May this year, a total of seven new women’s cooperatives were registered.

In 2022, a total of 16 cooperatives had been established, she added. - BERNAMA

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Entrepreneur and Cooperatives Development Ministry, SKM ready to assist dormant cooperatives to recover