Malaysia’s cooperatives target RM100b revenue this year, four years ahead of 2030 goal
MELAKA, Oct 9 — The national cooperative sector is projected to reach a revenue of RM100 billion this year, driven...
Malaysia's cooperative sector is on track to achieve a revenue of RM100 billion this year, according to the Malaysia Cooperative Societies Commission (SKM) chief executive officer, Mohd Marzuki Yasoa'. This goal was reached four years ahead of the projected 2030 target. As of December 31 last year, the sector had already reached RM81.6 billion in revenue and accumulated assets worth RM186.75 billion.
There were a total of 16,468 cooperatives operating throughout the country, with a combined share capital and fees amounting to RM18 billion. The Malaysia Cooperative Societies Commission is focusing on promoting the food security sector and digitalization and artificial intelligence (AI) industries within the cooperative movement.
The Ministry of Entrepreneur and Cooperative Development (Kuskop) and the Ministry of Finance are providing financial assistance to the sector, including a revolving capital fund with RM50 million allocated for this year. However, only RM22 million has been disbursed so far, and the department encourages cooperatives in need to apply for assistance.
The SKM also released the 'Melaka State Cooperative Movement Profile Book 2026' at the event, highlighting the profiles of 35 of Melaka's top cooperatives.
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