Shafie urges cooperative members to make preparations to develop entity
KOTA KINABALU: Cooperative members need to equip themselves with knowledge and skills as well as keep abreast with the latest developments in business and other industries to help develop their respective cooperatives.
Sabah Chief Minister Datuk Seri Mohd Shafie Apdal said the knowledge obtained could help to fulfil the vision and mission of cooperatives and their members.
“Thus, I urge the cooperative board members to become leaders in whatever initiatives undertaken to bring in profit to their cooperatives,“he said in his speech when officiating the annual general assembly of Koperasi Serbaguna Sanya Sdn Bhd at Wisma Muis here yesterday.
The text of his speech was read out by Sabah Youth and Sports Minister, Frankie Poon Ming Fung.
Shafie said the management of cooperatives should also strengthenitspresentgovernance to ensure the smooth running of the management while strengthening the confidence of the public, especially clients of cooperatives.
Meanwhile, Malaysia Cooperative Societies Commission (SKM) Sabah state director, Umar Sarim Saidin urged cooperative members to be wise in choosing the purchase of assets to ensure high returns.
He said SKM had always opened its doors to members who planned to expand their cooperatives through the purchase of assets or other business ventures.
“We encourage cooperatives to buy assets, but the assets need to really bring in returns, such as from farming, agricultural, retail and Ar- Rahnu ( Islamic pawnbroking) activities.
“Members can also buy buildings and renovate them into mini-hotels or even budget hotels for tourists who frequent Sabah,” said Umar.
He added that to- date, there were 1,492 cooperatives in the state, with the total membership exceeding 300,000 and assets worth over RM822 million. — Bernama