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.
