BUKIT MERTAJAM, March 13 (Bernama) — The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has channelled RM1.03 million in assistance and contributions to strengthen the role of cooperatives in driving the people’s economy in Penang.
Its minister Steven Sim Chee Keong said the aid, disbursed through the Cooperatives Commission of Malaysia (SKM), is aimed at strengthening cooperatives’ economic activities and enhancing their ability to generate income for members.
He said the government must act swiftly to address uncertain global geopolitical developments that could affect the local economy, including conflicts in Ukraine and Gaza, as well as tensions involving the United States and Iran.
Sim said the allocation included RM786,420 under the Revolving Capital Fund financing for Koperasi Pekebun Getah Negeri Pulau Pinang Berhad, aimed at supporting cooperative economic activities.
Another RM200,000 was channelled through the Supply Chain Empowerment for Cooperatives Programme (SCOPE) to Koperasi Kariah Masjid Ibadur Rahman Kepala Batas Pulau Pinang Berhad to strengthen community economic development.
The announcement was made during the Coop Talk: Minister and Bukit Mertajam Community 2026 programme, which was also attended by SKM chief executive officer Noor Afifah Abdul Razak and Penang SKM branch director Zainab A Raman.
At the event, Sim also presented corporate social responsibility (CSR) contributions including food baskets worth RM5,000 to 50 asnaf students and school support staff, as well as RM1,000 and two television sets to SMK Taman Sejahtera.
In addition, RM33,000 in Aidilfitri CSR contributions was distributed to 21 active mosque cooperatives in Penang and 12 school cooperatives within the Bukit Mertajam parliamentary constituency to assist members of the B40 group.
As of Dec 31, 2025, Penang has 819 cooperatives with 171,713 members, collectively holding assets worth RM1.29 billion and generating earnings of RM848.9 million.
Sim said the figures demonstrate the important role cooperatives play in strengthening the community economy, in line with the aspirations of the National Entrepreneurship Policy 2030.
— BERNAMA
