SANDAKAN, Nov 23 (Bernama) -- The cooperative movement in Sabah is expected to record a five per cent growth this year compared to last year.
Cooperative Commission of Malaysia (SKM) Sabah director Kastian Dula said in the first six months of this year, cooperatives in the state recorded a revenue of RM185.29 million and they were capable of recording a growth of four to five per cent by the end of this year from RM375.57 million achieved as at Dec 31, 2018.
"This development has shown that cooperatives have gained ground among the community in Sabah.
"SKM hopes the progress will continue and urged the cooperatives to venture more into high-impact businesses such as Ar Rahnu, property and plantation," he told reporters after attending a special meeting with the board of directors of Koperasi Sakilan Sandakan Bhd here, today.
Kastian also said the number of cooperatives to-date had increased to 1,593 cooperatives from 1,524 up to Dec 31, 2018.