Latest news with #ANGKASA
The Sun
4 days ago
- Business
- The Sun
New cooperative act expected to be tabled in Parliament this December - sec-gen
BANGI: A new cooperative law to replace the current Cooperative Act 1993 (Act 502) is expected to be tabled in Parliament this December, said Ministry of Entrepreneur Development and Cooperatives secretary-general Datuk Seri Khairul Dzaimee Daud. He said the ministry is introducing a new law to enable the cooperative movement to operate more effectively as a business entity and become a stronger driver of the national economy. 'Therefore, we are repealing the existing act and replacing it with a new one, which will be tabled in Parliament for the first reading in December,' he said. 'The 2026 Parliament session, scheduled for around March or April, is expected to see the second reading, with the aim of enforcing the new act by July next year,' he said during the opening of the ANGKASA-MINDA-UKM Cooperative Empowerment Forum here today. Previously, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said that his ministry was drafting the new cooperative act to replace Act 502. The Cabinet paper on the matter was presented and approved in principle on Jan 8. Khairul Dzaimee added that the ministry is actively engaging with state governments and stakeholders to ensure the new law is properly implemented in the best interests of cooperatives. He also said that the new cooperative law aims to create more responsive and dynamic cooperatives, facilitate cooperative businesses, enhance the well-being of the community, and improve cooperative governance. 'The main essence of this new act is to liberalise the cooperative movement by reducing excessive monitoring, previously focused heavily on legislation, and giving cooperatives more space to operate as business entities,' he said. Meanwhile, Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Abdul Fattah Abdullah expressed support for the government's efforts to enhance the cooperative ecosystem in the country. 'We want to make cooperatives a culture among Malaysians by 2050. ANGKASA (also) strongly supports the government's efforts to liberalise the laws and regulations that are being made and improve the (cooperative) ecosystem,' he said. Also present were Universiti Kebangsaan Malaysia (UKM) deputy vice-chancellor (Academic and International Affairs) Prof Dr Abdul Halim Abdul Gafor and the Malaysian Inclusive, Development and Advancement Institute (MINDA-UKM) director Prof Tan Sri Dr Noor Azlan Ghazali.
The Sun
4 days ago
- Business
- The Sun
New Cooperative Law Set for Parliament in December
BANGI: A new cooperative law to replace the current Cooperative Act 1993 (Act 502) is expected to be tabled in Parliament this December, said Ministry of Entrepreneur Development and Cooperatives secretary-general Datuk Seri Khairul Dzaimee Daud. He said the ministry is introducing a new law to enable the cooperative movement to operate more effectively as a business entity and become a stronger driver of the national economy. 'Therefore, we are repealing the existing act and replacing it with a new one, which will be tabled in Parliament for the first reading in December,' he said. 'The 2026 Parliament session, scheduled for around March or April, is expected to see the second reading, with the aim of enforcing the new act by July next year,' he said during the opening of the ANGKASA-MINDA-UKM Cooperative Empowerment Forum here today. Previously, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said that his ministry was drafting the new cooperative act to replace Act 502. The Cabinet paper on the matter was presented and approved in principle on Jan 8. Khairul Dzaimee added that the ministry is actively engaging with state governments and stakeholders to ensure the new law is properly implemented in the best interests of cooperatives. He also said that the new cooperative law aims to create more responsive and dynamic cooperatives, facilitate cooperative businesses, enhance the well-being of the community, and improve cooperative governance. 'The main essence of this new act is to liberalise the cooperative movement by reducing excessive monitoring, previously focused heavily on legislation, and giving cooperatives more space to operate as business entities,' he said. Meanwhile, Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Abdul Fattah Abdullah expressed support for the government's efforts to enhance the cooperative ecosystem in the country. 'We want to make cooperatives a culture among Malaysians by 2050. ANGKASA (also) strongly supports the government's efforts to liberalise the laws and regulations that are being made and improve the (cooperative) ecosystem,' he said. Also present were Universiti Kebangsaan Malaysia (UKM) deputy vice-chancellor (Academic and International Affairs) Prof Dr Abdul Halim Abdul Gafor and the Malaysian Inclusive, Development and Advancement Institute (MINDA-UKM) director Prof Tan Sri Dr Noor Azlan Ghazali.
The Sun
22-05-2025
- Business
- The Sun
ASEAN states urged to include cooperatives in national development policies
KUALA LUMPUR: ASEAN member states have been urged to incorporate cooperatives into their respective national development policies to ensure better alignment of cooperative-related strategies across the region. Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Dr Abdul Fattah Abdullah said this move is vital in positioning cooperatives as a regional economic force on par with other sectors. 'Currently, cooperatives are perceived as a marginal sector, involving only certain groups. It has yet to develop into a larger movement compared to other economic sectors,' he said during Bernama TV's Dari Kuala Lumpur ke Dunia programme aired tonight. Abdul Fattah said that not all ASEAN member states have recognised cooperatives in their national policies, resulting in gaps in direction and regional economic participation. He stressed that ASEAN should adopt a more inclusive approach to allow cooperatives to actively contribute to regional policy formulation, in line with their extensive membership base. 'At the ASEAN level, the cooperative movement comprises more than 300,000 cooperatives with nearly 66 million members. However, this movement has yet to be given due recognition within the regional economic administration structure. 'We must collaborate, explore business opportunities from various regions, and compete globally. Otherwise, we risk being left behind,' he said. Abdul Fattah, who also serves as ASEAN Cooperative Organisation president, said the proposal would continue to be raised with ASEAN leaders through the ASEAN Cooperative Dialogue 2025 resolution to ensure cooperatives are no longer sidelined in the region's economic development ecosystem. The 46th ASEAN Summit will commence with the Senior Officials' Meeting on May 23, followed by the ministerial-level meeting on May 25, while the Heads of Government meeting will begin on May 26.
The Sun
22-05-2025
- Business
- The Sun
ASEAN: Integrate cooperatives in national development
KUALA LUMPUR: ASEAN member states have been urged to incorporate cooperatives into their respective national development policies to ensure better alignment of cooperative-related strategies across the region. Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Dr Abdul Fattah Abdullah said this move is vital in positioning cooperatives as a regional economic force on par with other sectors. 'Currently, cooperatives are perceived as a marginal sector, involving only certain groups. It has yet to develop into a larger movement compared to other economic sectors,' he said during Bernama TV's Dari Kuala Lumpur ke Dunia programme aired tonight. Abdul Fattah said that not all ASEAN member states have recognised cooperatives in their national policies, resulting in gaps in direction and regional economic participation. He stressed that ASEAN should adopt a more inclusive approach to allow cooperatives to actively contribute to regional policy formulation, in line with their extensive membership base. 'At the ASEAN level, the cooperative movement comprises more than 300,000 cooperatives with nearly 66 million members. However, this movement has yet to be given due recognition within the regional economic administration structure. 'We must collaborate, explore business opportunities from various regions, and compete globally. Otherwise, we risk being left behind,' he said. Abdul Fattah, who also serves as ASEAN Cooperative Organisation president, said the proposal would continue to be raised with ASEAN leaders through the ASEAN Cooperative Dialogue 2025 resolution to ensure cooperatives are no longer sidelined in the region's economic development ecosystem. The 46th ASEAN Summit will commence with the Senior Officials' Meeting on May 23, followed by the ministerial-level meeting on May 25, while the Heads of Government meeting will begin on May 26.
Barnama
22-05-2025
- Business
- Barnama
ANGKASA Hands Over RM100,000 In Sponsorship To Koperasi LLM Bhd For ACNR2025
PUTRAJAYA, May 22 (Bernama) -- Angkatan Koperasi Kebangsaan Malaysia Bhd (ANGKASA) has handed over RM100,000 in sponsorship to Koperasi LLM Bhd to organise the ASEAN Cultural Night Run @ Penang 2nd Bridge (ACNR2025). ANGKASA president Datuk Seri Dr Abdul Fattah Abdullah, also the president of the ASEAN Cooperative Organisation (ACO), handed over the sponsorship to Koperasi LLM Berhad chairman Datuk Idrus Mat Tais yesterday. The ceremony was witnessed by the Minister of Entrepreneur and Cooperative Development, Datuk Ewon Benedick. ACNR2025 will be held on August 16 on the Penang 2nd Bridge, also known as the Sultan Abdul Halim Mu'adzam Shah Bridge. ANGKASA, in a statement, said that the programme will bring together more than 3,000 participants, including cooperative members, from all over Malaysia and ASEAN countries. "The programme is organised in conjunction with the celebration of the International Year of Cooperatives 2025 (IYC2025) as well as to celebrate Malaysia's chairmanship of ASEAN this year," it said. Through the organisation of ACNR2025, ANGKASA believes that it can strengthen cooperation among cooperatives at the ASEAN level, while positioning Malaysia as a regional hub for a progressive and competitive cooperative movement. More interestingly, ACNR2025 will be held at night, providing a unique experience for participants to appreciate the beautiful panorama from the iconic and magnificent Second Penang Bridge. Participants are also encouraged to wear traditional attire as a celebration of the harmony and rich cultural diversity that defines Malaysian society.
