Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) is targeting 30 school cooperatives to achieve revenue of over RM1mil by end of this year.
Its president Datuk Seri Dr Abdul Fattah Abdullah is confident this can be realised, with 26 of the cooperatives having each recorded a revenue of more than RM1mil last year.
He expressed confidence that these 26 cooperatives would be able to record a revenue of RM1.5mil each by 2024.
“We also expect at least five more schools to record revenue of over RM1mil each this year,” he added.
Abdul Fattah, who is also Asean Cooperative Organisation president, said this when met by reporters after the closing of the School Cooperative Excellence Award presentation by Education Minister Fadhlina Sidek in Subang, Selangor.
Abdul Fattah cited as example Koperasi Kolej Vokasional Tanah Merah Bhd, which recorded a RM2mil revenue in the 2023 financial year.
“This has proven that school cooperatives are capable of managing high-impact businesses and bringing profit to their members,” he said.
“The encouraging performance by the school cooperative has been recognised by Education Ministry as an activity that contributes to the school’s development, thus helping it manage co-curricular activities through a special fund set up by the cooperative.”
On the award presentation ceremony, Abdul Fattah said it recognised the best school cooperatives at state and national levels as well as acted as a catalyst to enhance public awareness about cooperatives and their role in producing quality students.
Meanwhile, Fadhlina said she was impressed by the success of school cooperatives for their innovative ways of offering quality products to consumers.
At the ceremony, Koperasi SMK Batu Sepuluh Lekir Perak Berhad was named the recipient of the national-level “Pelancongan Koperasi Sekolah” award while Koperasi Sekolah Menengah Vokasional Tanah Merah Bhd received the national-level School Cooperative Excellent Award.
According to Angkasa, as of June 30, 2023, a total of 2,485 school cooperatives, involving a total membership of 2,047,124 people, were registered with the Malaysian Cooperative Commission.
The school cooperatives have a total share capital or membership fees amounting to RM29.79mil with total assets worth RM440.12mil and a turnover of RM298.76mil as of Dec 31, 2022.
