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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
5 hours ago
- The Star
Asean News Headlines at 10pm on Sunday (June 29, 2025)
Malaysia: * King grants audience to new IGP Mohd Khalid * No Malaysians recruited into Bangladeshi militant network, says Home Ministry * Travel agency, boat operator in Perhentian capsize incident violated several laws, says Tiong * Violent squall hits Penang and Kedah * Two children among three dead after boat capsizes off Pulau Perhentian * Lecturer reported missing while diving in Pulau Tioman found safe * Bursa Malaysia to trade in cautious mode with upside bias this week * Stronger ringgit, Fed shift could draw capital to Malaysia * Sabah PKR prepares for potential changes amid GRS video reports * Ringgit to trade around RM4.22 to RM4.23 and be firmer against the US dollar from Monday (June 30) * Postpone expanded SST to January, urges ACCCIM * Woman, boyfriend detained over teen daughter's rape * JPJ: Three out of five transport companies fail to meet safety standards * Two Sabah assemblymen, businessman to be charged with graft on June 30 * Seat belts mandatory on all express, tour buses from July 1 * Five students released as MRSM bullying case probe nears completion * Ex-ticketing clerk claims trial to 10 counts of CBT involving RM114,630 / Engineer loses RM275,000 to online 'Moomoo' investment scam Singapore singer Tanya Chua poses for photographs as she arrives for the 36th Golden Melody Awards in Taipei, Taiwan, Saturday, June 28, 2025. -- AP Photo/Billy Dai Singapore: * Singapore increases security posture amid Iran-Israel tensions * Self-driving public shuttles to hit Punggol roads in Singapore by fourth quarter * Three arrested for drug offences following police chase and car crash in Singapore's Jalan Besar * Cashback for purchases via Singapore's DBS PayLah app at hawker stalls, heartland shops returns from July 12 * Life After... being homeless and jailed seven times: Singaporean social worker now helps others break free from crime * The US-Israel-Iran saga: Uncertain truce must last - The ceasefire could mark the beginning of de-escalation in the region Indonesia: * Prabowo: Indonesia can achieve energy self-sufficiency in six years * Pilgrim flights delayed by Iran-Israel attacks arrive in Indonesia * Indonesian transport ministry acts to prevent flight disruptions amid Middle East conflict * Three killed after boat carrying soccer team capsizes in Batam * Women in drug trade sparks alarm - growing number of women caught in trade raising alarm bells in Indonesia Thailand: * UN agency pushes AI ethics standards as US-China tech rivalry deepens * Former Thai leader Sondhi plays clip of ex-PM Sarit, blasts Thaksin and Hun Sen in fiery speech * Thai PM Paetongtarn submits new cabinet list to the King * Thailand: Over 600 sacks of cannabis found in durian and coconut orchards * Thai PM visits flood-hit region as 3,700 homes inundated Philippines: * Flight to Tawi-Tawi returns to Zamboanga after technical issues: Civil Aviation Authority of the Philippines * 20% of Filipinos experienced hunger in April 2025: report * British woman claims record run across Australia A worker paints the facade of a building in Singapore . - REUTERS/Edgar Su Vietnam: * Aviation authority urges heightened flight safety following aircraft collision in Hanoi * Four dead and three injured in recycling facility fire in nortern Vietnam * Vietnamese PM Chinh calls for breakthroughs in Vietnam–UK economic cooperation Myanmar: * Flag handover marks Myanmar as host of Mekong Tourism Forum in 2026 * Peace forum in Naypyidaw discusses stopping military conscription during election period * Iran voices 'serious doubts' over Israel commitment to ceasefire Cambodia: * Thai-Cambodia border closed to cargo traffic * Hun Manet: Thailand asked to reopen border, insists Cambodia didn't start closure * Deported Cambodian blacklisted as 'national security threat' Laos: * Laos reaffirms commitment to fighting drug abuse * Lao government eyes measures to ease effects of electricity price hike Brunei: * Brunei trade balance increases 3.4 per cent in April * Youth market promotes entrepreneurial spirit in Brunei Formula One F1 - Austrian Grand Prix - Red Bull Ring, Spielberg, Austria - June 29, 2025McLaren's Lando Norris celebrates after winning the Austrian Grand Prix with second place driver and teammate Oscar Piastri, also of McLaren. -- REUTERS/Leonhard Foeger AseanPlus: * Malaysian musicians and artistes unhappy three main music collective bodies taking action against new govt guidelines * Push to protect 'Tambun pomelo' brand through IP registration * Labuan-Kota Kinabalu express ferry draws strong response after three-year hiatus * Oslo police announce rape and sexual assault charges against son of Norwegian crown princess * China activates emergency response to flooding in three provincial-level regions * Unruly passenger handed over to security after mid-air altercation on Air India flight * China issues yellow alerts for rainstorms, many places are expected to be hit badly on Sunday evening (June 29) * Godiva ordered by Hong Kong govt to halt dark chocolate ice cream sale after bacteria find * Hong Kong's new bounce, five years post-national security law * White House says US reaches 'understanding' with China on rare earth shipments * China opposes any tariff deal made at its expense: Commerce Ministry * UK junior trade minister visits Taiwan * Seoul taken over by 'Squid Game' * Over a third of people on sinking Tuvalu seek Australia's climate visas * Japan's final H2A rocket successfully lifts off, ends 24-year career * Nine workers missing in India's Uttarakhand after midnight cloudburst caused landslip, rescue ops underway * Lai's 'impurities' speech fuels authoritarian fears: stop before it's too late * Three killed, six injured in stampede at chariot festival in Puri, India * Samyang Foods' market cap tops 10 trillion won on buldak boom * Hong Kong civil servants have duty to identify security breaches: Chris Tang * India rejects statement by Pakistan seeking to blame it for Waziristan attack * 13 Pakistani soldiers killed in suicide bombing near Afghan border: Army * Covid-19 death toll in Bangladesh reaches 22 so far this month * Pakistan flash floods and heavy rain kill 32, including 16 children * South Korea: Ex-president Yoon under probe by special prosecutor * 'Hefty price tag' for subsidy scheme: is China's consumer boost sustainable? * Tensions escalate as Democratic Party of Korea pushes to approve PM nominee, extra budget * China dad berated for locking naked son in iron cage, claims pen prevents wandering * Nagoya teacher reportedly used school camera to take indecent photos; used camera often to make school newsletter * M'sia swimming follows football's lead as it seeks mixed heritage athletes abroad * Hong Kong has potential to become green marine fuel hub with Beijing's backing * Tennis - 'I really want to win': Confident Alcaraz targets rare Wimbledon three-peat * Badminton - Korean star Se-young close to million-dollar deal but it's still quiet for Pearly-Thinaah * Motor racing - Mercedes talk of Verstappen is a lot of noise, says Horner * Motorcycling - Marc Marquez wins Dutch Grand Prix but brother Alex crashes out * The bombing of Iran may teach an unwelcome lesson on nuclear weapons * South Korea's Lee names Koo Yun-cheol finance minister, makes other picks * Earning, but still yearning - Lifelong low wages are leaving many lower- and middle-income earners in Malaysia with inadequate retirement savings
Malaysiakini
7 hours ago
- Malaysiakini
Saifuddin: No M'sians recruited into Bangladeshi-linked militant network
Home Minister Saifuddin Nasution Ismail has confirmed that no Malaysians were recruited into a foreign militant network linked to Bangladeshi nationals, which was recently uncovered by authorities. He said investigations by the Royal Malaysia Police Special Branch revealed that the group, which aimed to spread extremist ideology rooted in Islamic State beliefs, involved only Bangladeshi nationals.
New Straits Times
8 hours ago
- New Straits Times
No Malaysians recruited into Bangladeshi-linked militant network, says Saifuddin
KUALA BERANG: Home Minister Datuk Seri Saifuddin Nasution Ismail has confirmed that no Malaysians were recruited into a foreign militant network linked to Bangladeshi nationals, which was recently uncovered by authorities. He said investigations by the police's Special Branch revealed that the group, which aimed to spread extremist ideology rooted in Islamic State (IS) beliefs, involved only Bangladeshi nationals. "Their activities were focused on violent extremism with the objective of toppling the government in their country of origin (Bangladesh)," he said. Saifuddin was speaking to reporters after launching the Kampung Angkat Madani and Sekolah Angkat Madani programmes under the People's Volunteer Corps (Rela) 2025 initiative at the Hulu Terengganu District Council Hall here. "It is important to inform the public that our security forces are on high alert. If such activities are not addressed firmly, they could pose a serious threat to national security," he added. Saifuddin had earlier revealed that police dismantled the foreign militant network with the arrest of 36 Bangladeshi nationals suspected of direct involvement in the radical movement. The arrests were made in a three-phase security operation in Selangor and Johor starting April 24. In another development, Saifuddin said the National Scam Response Centre (NSRC) will soon undergo restructuring to enhance its effectiveness, with the police taking the lead, supported by other key agencies. "Previously, four agencies, the police, Bank Negara, the Malaysian Communications and Multimedia Commission (MCMC) and others, shared oversight of the NSRC which led to certain operational shortcomings. "Under the new structure, the police will directly receive scam reports, record the necessary details, and notify the relevant banks immediately to freeze the victim's account. "Efforts to recover stolen funds will follow promptly," he said. The restructuring will also see the NSRC's 997 hotline operate 24 hours a day, allowing victims to lodge reports at any time. The number of staff will also be increased to improve response time and victim support. Saifuddin added that the proposed improvements have been approved by Prime Minister Datuk Seri Anwar Ibrahim and will be implemented soon.
