KOTA KINABALU, Oct 16 (Bernama) – A total of 16 co-operatives in Sabah have received development assistance from the Malaysia Co-operative Societies Commission (SKM) amounting to RM1.19 million for 2026, aimed at strengthening the development of the co-operative movement in the state.
Sabah Deputy Chief Minister III, who also serves as the Minister of Industrial Development, Entrepreneurship, and Transport, Datuk Ewon Benedick, said an additional RM5.3 million has been channeled through the SKM Revolving Capital Fund initiative, benefiting two co-operatives.
He added that the State Government, through his ministry (MINDET), has also provided assistance via the MINDET Special Co-operative Development Fund, with two co-operatives receiving grants in the first phase.
“We will decide on the recipients for the second phase of assistance in the near future,” he told reporters after officiating the COOPFEST Borneo 2026 event at Suria Shopping Mall here today.
Ewon noted that MINDET would also propose an allocation in the Sabah Budget 2027 to further bolster the development of the co-operative movement in the state.
He also expressed hope that COOPFEST Borneo held for the first time would continue, serving to strengthen networks and the development of co-operatives across Sabah and Sarawak.
Meanwhile, Ewon said COOPFEST Borneo 2026 serves as a platform to expand business networks for co-operatives in Sabah and Sarawak by creating opportunities in supply chains, the sharing of expertise, and market expansion.
“Co-operatives from both states should leverage their respective strengths, particularly in the sectors of agriculture, food, community-based tourism, handicrafts, and services,” he said.
He added that this inaugural programme brings together 30 co-operatives from Sabah and Sarawak, alongside 10 entrepreneurs from TEKUN and Amanah Ikhtiar Malaysia (AIM), with an expected turnout of approximately 2,000 visitors over the three-day event.
He noted that the co-operative movement in Sabah holds significant potential for growth, with 2,047 co-operatives recording a total membership of 388,683, assets amounting to RM1.172 billion, and a turnover of RM913.33 million as of December 2025.
He said the State Government, through the Ministry of Industrial Development and Entrepreneurship (MINDET), is strengthening the capabilities of co-operatives by providing development assistance, training, product quality enhancement, and market expansion support.
Furthermore, the MINDET Special Entrepreneurship Development Fund which has an allocation of RM1 million this year has been extended to include cooperatives, with two co-operatives having already benefited from it so far.
Also present were Deputy Minister of Entrepreneur Development and Co-operatives Datuk Mohamad Alamin and MINDET deputy permanent secretary Moira David.
-- BERNAMA