Kota Kinabalu: Cooperatives in Sabah are urged to be adaptable to changes especially with increasingly challenging business environments from the impacts of the Covid-19 pandemic.
Chief Minister Datuk Seri Hajiji Mohd Noor said this includes increasing their competitiveness, seizing available economic opportunities and being proactive in making changes towards the State’s transformation.
“Sabah is a State rich in natural resources. Cooperatives in Sabah should be wise in utilising these resources to carry out production activities or services that can yield lucrative returns.
“The cooperative movement must always be prepared to adapt to rapid changes to ensure it can face challenges within the business environment, especially after the Covid-19 pandemic.
“I am confident that with the standard operating procedures (SOP) announced by the Government earlier on, Sabah’s economy will come back in full swing, giving relief to entrepreneurs, including cooperatives,”
He said in his speech when officiating the State-level National Cooperative Day in conjunction with the 100th Anniversary of the Malaysian Cooperative Movement at Centre Point Shopping Complex here, Sunday.
His speech was delivered by the Community Development and People’s Wellbeing Minister Datuk Ir Shahelmey Yahya.
Citing statistics from the Malaysia Cooperative Societies Commission (SKM), Hajiji said as of Dec 31 last year, Sabah had a total of 1,652 cooperatives with some 339,000 members.
He said this involved a turnover of RM470.8 million, an asset strength of RM887.1 million as well as shares and fees of RM218.6 million.
“I was informed that SKM Sabah had previously expressed the desire for the cooperative portfolio to be placed in a ministry under the State Government but the Government at that time had not taken the appropriate action.
“Therefore, I will bring this matter to the State Cabinet Meeting for consideration,” he said.
Hajiji added that existing strategic collaborations between SKM and the Department of Industrial Development and Research (DIDR) was a welcomed effort aligned with the Sabah Maju Jaya development plan, in the aspect of stimulating economic recovery.
Additionally, he said an important aspect in the successful development of cooperatives is the quality of leadership in administration and management.
“Leaders of a cooperative need to plan and evaluate appropriate investments that can bring returns to its members without neglecting its main goal, which is to improve the services of its members.
“I am confident that the cooperative sector will be able to grow and move in line with other private business sectors if it is managed efficiently, transparently and professionally,” he said.
Meanwhile, Hajiji said the cooperative movement in Malaysia had started in 1922, before the country achieved independence. The movement marked its 100th anniversary this year.
“In Sabah, cooperatives were first established in 1959. There are still cooperatives that have survived to this day, namely Koperasi Green Berhad which was registered on Aug 18, 1959,” he said, adding that it is a proud achievement.
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