Angkasa willing to spend big to expand influence of co-ops

Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) or the National Co-operatives Organisation of Malaysia is confident that the cooperatives sector’s contribution to the country’s Gross Domestic Product (GDP) will rise to five per cent in two years time from one per cent currently.

Currently, the contribution of cooperatives amount to one per cent or RM10 billion to GDP, said Angkasa’s Deputy President, Abdul Fatah Abdullah.

He said Angkasa was confident of achieving the target amid the increasing number of school cooperatives that have become members of the cooperative holding company.

“We are confident of achieving the five per cent of GDP target by 2013,” he told reporters after a closing ceremony today for a cooperative workshop programme held for Kelantan schools here.

Abdul Fatah said from a total of 2,300 school cooperatives in the country, only 1,890 were Angkasa members and the rest who were not members were those recently set up.

“Hopefully 100 per cent of the cooperatives join Angkasa by end of this year,” he said.

Towards this, Angkasa together with the Cooperatives Commission of Malaysia is carrying out a campaign to attract more school cooperatives to join Angkasa.

He said Angkasa was also putting aside RM10 million for school cooperatives to finance their various programmes and activities.

– Bernama