Sabah Co-op Movement Records Positive Growth

KOTA KINABALU, July 9 (Bernama) -- The Sabah cooperative movement has recorded positive growth in its shares, including fees, earnings and assets, said Deputy Chief Minister, Datuk Yahya Hussin.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=962179
Published: July 10, 2013

He said as at May 31, 2013, the co-ops had RM88.88 million in shares, including fees, compared with RM72.8 million last year.

Their earnings rose to RM279 million from RM235.7 million last year, he said.

"The value of the co-ops' assets increased to RM511.2 million from RM444 million.

"The number of co-ops rose to 1,012 from 902 the previous year," he said after chairing a meeting of the Sabah Cooperatives Consultative Council (MPKN) meeting here Tuesday.

Yahya, who is also MPKN Sabah chairman, said the membership of the co-ops increased by 5.4 per cent to 295,392 from 280,313 last year.

He said the Retail Shop Transformation Project (TUKAR), distribution and small distribution centres had received encouraging response in Sabah.

The programmes had helped the co-ops, especially the smaller ones in the rural areas, to boost their turnover, he said.

Yahya said in the first five months of this year, the 43 co-ops which participated in the TUKAR programme managed to generate a turnover of RM9.1 million.

"The Cooperative Commission of Malaysia, Sabah has proposed that another 22 co-ops join the TUKAR programme for this year," he said.

He said the credit services helped to increase the turnover of the co-ops in Sabah to RM52.3 million as at May 31, 2013.

-- BERNAMA