Latest news with #EntrepreneurDevelopmentandCooperativesMinistry
New Straits Times
2 days ago
- Business
- New Straits Times
Ministry holds engagement sessions with cooperatives on prospective new Act
MELAKA: The Entrepreneur Development and Cooperatives Ministry is holding engagement sessions with cooperatives in an effort to draft a new replacement for the Cooperatives Act 1993. Its minister Datuk Ewon Benedick said it was part of the effort to improve the existing Act in line with the current global situation and challenges. "First, (the new Act) is for us to liberalise the cooperatives movement itself, and second, for us to empower the Cooperatives Commission of Malaysia (CCM) as a supervisory body for cooperatives. "We know the situation now demands cooperatives to adapt to change and it all requires legal controls that we need to improve, so our objectives are to improve the Cooperatives Act accordingly," he told reporters after the close of the 2025 National Cooperatives Day officiated by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh at the Melaka International Trade Centre in Ayer Keroh here today. He said the engagement sessions had started since last year and he had been to several states to get views about cooperatives from various parties. "Next week, I will go to Sarawak to meet cooperative industry players to listen to their feedback and views," he said, adding that he had held previous sessions in other areas, including Penang and Sabah and that the new act could be tabled in parliament at the end of the year.
The Sun
2 days ago
- Business
- The Sun
KUSKOP drafts new Cooperatives Act 1993 replacement after nationwide feedback
MELAKA: The Entrepreneur Development and Cooperatives Ministry (KUSKOP) is conducting nationwide engagement sessions with cooperatives to gather input for a new act replacing the Cooperatives Act 1993. Minister Datuk Ewon Benedick stated the initiative aims to modernise regulations in response to global challenges and strengthen the Cooperatives Commission of Malaysia (CCM). 'First, (the new act) is for us to liberalise the cooperatives movement itself, and second, for us to empower the Cooperatives Commission of Malaysia (CCM) as a supervisory body for cooperatives,' he said after the 2025 National Cooperatives Day closing ceremony in Ayer Keroh. Benedick highlighted that the sessions, ongoing since last year, have covered states like Penang and Sabah, with Sarawak next. Feedback will shape a draft expected to be tabled in Parliament by year-end. – Bernama
Barnama
2 days ago
- Business
- Barnama
KUSKOP Holds Engagement Sessions With Cooperatives On Prospective New Act
MELAKA, July 27 (Bernama) -- The Entrepreneur Development and Cooperatives Ministry (KUSKOP) is holding engagement sessions with cooperatives in an effort to draft a new replacement for the Cooperatives Act 1993. Its minister, Datuk Ewon Benedick said it was part of the effort to improve the existing act in line with the current global situation and challenges. 'First, (the new act) is for us to liberalise the cooperatives movement itself, and second, for us to empower the Cooperatives Commission of Malaysia (CCM) as a supervisory body for cooperatives.
The Sun
19-07-2025
- Business
- The Sun
Nine KUSKOP initiatives boost Indian community under Madani govt
KUALA LUMPUR: The Entrepreneur Development and Cooperatives Ministry (KUSKOP) has rolled out nine key initiatives since 2024 to uplift the Indian community, backed by RM356 million in funding. Deputy Minister Datuk Seri R. Ramanan highlighted these efforts as proof of the Madani government's dedication to inclusive economic growth. 'Over 9,000 Indian entrepreneurs have benefited from financing and development programs this year alone,' Ramanan stated in a Facebook post. Key schemes include SPUMI, PENN for women, BRIEF-i financing, and Vanigham support for small businesses. The ministry also launched Vanakam Madani, i-BAP accelerators, and EIP 2024 to foster entrepreneurship, alongside grants for places of worship. Ramanan stressed these are 'not just numbers but real commitments' to integrate the community into national progress. 'Empowerment is ongoing work with measurable outcomes,' he added, noting Kuskop is evaluating new projects for future rollout. The deputy minister pledged to monitor implementation closely, ensuring efficient service delivery. - Bernama
The Star
19-07-2025
- Business
- The Star
Nine Kuskop initiatives reflect Govt's commitment to empower Indian community
KUALA LUMPUR: The Entrepreneur Development and Cooperatives Ministry (Kuskop) has implemented nine high-impact initiatives to empower the Indian community since last year until mid-2025. Deputy Minister Datuk Seri R. Ramanan (pic) said the initiatives, which cover financing, capacity building, training, cooperative empowerment and community engagement, reflect the Government's commitment to inclusive and equitable economic development. "For this year up to June, over RM356mil has been allocated through various financing and entrepreneurship development programmes, benefiting nearly 9,000 Indian entrepreneurs nationwide," he said in a Facebook post on Saturday (July 19). Among the initiatives introduced are the Indian Community Entrepreneur Development Scheme (SPUMI), SPUMI Goes Big, the Prosperity Empowerment and A New Normal for Indian Women (PENN) programme, and Bank Rakyat Indian Entrepreneur Financing-i (Brief-i). Other initiatives include Vanigham Financing for Indian Entrepreneurs, Vanakam MADANI, the Business Accelerator Programme for Indian Small Business (i-BAP), the Empowering Indian Entrepreneur (EIP 2024) programme, the Indian Community Cooperative Conference (PKKI 2024), and financial assistance for Indian houses of worship. Ramanan said the implementation of these initiatives demonstrates the government's responsiveness to the needs and aspirations of the people, particularly the Indian community. "These are not just figures on paper, but a testament to the government's boldness and commitment to ensuring the Indian community becomes part of the national development mainstream. "We want to see more Indian entrepreneurs succeed, become job creators and contribute to the country's economic growth. Empowering the community is not rhetoric, it is ongoing work with measurable outcomes," he said. He added that Kuskop is currently evaluating several new initiatives, which are expected to be launched soon. "I remain committed and focused on uplifting the Indian community through economic empowerment programmes. I will ensure all initiatives prioritise efficient service delivery. "I will continue to closely monitor and strengthen this empowerment agenda to ensure no community is left behind in the journey towards a MADANI Malaysia," he said. - Bernama
