SKM to continue developing cooperatives in Sarawak
KUCHING: Sarawak Cooperative Commission (SKM) will continue to develop the cooperative movement in the state to make it one of the major contributors to the country’s Gross Domestic Product (GDP) of RM55 billion by 2020.
According to its director, Basuini Ali, there were 1,054 cooperatives with a strength of 269,000 members in Sarawak as of Dec 31, 2018. Total shares and fees of RM186 million, assets of RM582 million and a turnover of RM248 million were also recorded as of that date.
“The government has outlined Economic Activity areas all over the country to enable cooperatives to contribute to the RM55 billion GDP by 2020.
“The areas are financial services, wholesale and retailing, tourism, self-care and health, agrobased industry, plantation and property development,” he said at the closing ceremony of Sarawak Zone Business Cooperation and Business Matching seminar here on Thursday.
Basuini said the financial service sector contributed 41 per cent while the wholesale and retail sector contributed 38 per cent to the total turnover of cooperatives last year.
The SKM, he added, had taken the initiative to provide support programmes to cooperatives such as the provision of conducive trading environment for them, and raising the maximum ceiling of the Capital Fund Loan and grants.
“SKM hopes that cooperatives in Sarawak would be more creative and innovative, venture into large- scale businesses, and introduce new products and services based on their customers’ need.”
The three- day seminar, which began Tuesday, was attended by about 100 participants comprising members of cooperatives from throughout Sarawak.
SKM headquarters senior assistant director ( promotion division) Muhamad Zaki Muhamad Shukri and its Sarawak senior assistant director ( policy division) Julia Nyangga were also present at the closing ceremony.