Co-Operatives Expect To Achieve RM50 Billion In Turnover By 2020

KUALA LUMPUR, July 17 (Bernama) -- Co-operative services in the country under the Malaysia Co-operative Societies Commission (MCSC) are expected to record higher turnovers in the future, with a target of more than RM50 billion by 2020.

Domestic Trade, Co-operatives and Consumerism Minister Datuk Seri Hamzah Zainudin said the performance of the co-operatives had improved significantly, with a turnover of nearly RM40 billion last year.

"This year, the turnover of co-operatives is expected to reach RM40 billion, and increase further to achieve the target of RM50 billion by 2020, with the presence of sector leads among the co-operatives based on the National Key Economic Area,\" he said at the pre-launch of the National Co-operative Day (HKN) 2017 here today.

Themed 'Transformation of Co-operatives Towards Prosperity', the celebration maintains its slogan, 'One For All, All For One' with a series of events planned in every state from July 22 to Aug 27.

Speaking to reporters later, Hamzah said there were 30 per cent more exhibition booths at the (HKN) celebrations this time, as compared to last year.

"MCSC also expects MoUs (memorandi of understanding) to be signed between co-operatives and various parties involving a total value of more than RM50 million, up from RM48 million last year," he said.

According to him, all state governments have also provided good cooperation to ensure the celebration of HKN 2017 will be a success, in efforts to promote co-operatives in their respective states.

Among programmes organised for the celebration are the presentation of excellence awards, expositions and sales, demonstrations and promotion of co-operative products, as well as various fun-filled events and competitions.