Johor Cooperative Movement expected to hit RM800 mln revenue in 2023

JOHOR BAHRU - The Johor government expects the state's cooperative movement to hit RM800 million in revenue in 2023, up from RM714 million last year.

Johor Youth, Sports, Entrepreneur Development, Cooperatives and Human Resources Committee chairman Mohd Hairi Mad Shad said the state currently has 1,462 cooperatives with 463,000 members.

"They achieved good results last year, and I expect their revenue will continue to increase this year.

"We are targetting RM800 million in revenue this year with the addition of 100 cooperatives," he told reporters after officiating a special gathering with the Johor cooperative movement here today.

In his speech, he said six Johor cooperatives were ranked among the top 100 cooperatives in Malaysia in 2022, while 30 cooperatives were among the top 350 out of 15,315 cooperatives nationwide.

Mohd Hairi said only 30 per cent of the state's 1,462 cooperatives were inactive, with many having received assistance for recovery but nevertheless unable to sustain themselves.

"Each year, 50 cooperatives closed down, mostly due to the lack of new business approach,” he said.

Mohd Hairi expressed hope that organisations such as Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) and Cooperatives Commission of Malaysia would go out in the field to explain the functions of cooperatives to new cooperatives, schools and colleges. - BERNAMA