SABAH COOPERATIVES MUST HAVE COURAGE TO STEP INTO DIGITAL ERA - RAMANAN

KOTA KINABALU, Nov 14 (Bernama) -- Cooperatives in Sabah must have the courage to transition to digitalisation to ensure they can compete in the current economic landscape, Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan said.

Cooperatives could no longer depend on traditional approaches and need to adapt to new technology and innovation as digitalisation was no longer an option but a must, he added.

“Without a change towards digital, we not only run the risk of being left behind but also will fall out of the mainstream of modern economic development,” he said during his speech at the Bicara Ilmu programme organised by the Malaysian Cooperatives Institute, which was attended by 200 cooperative members from Sabah here today.

He noted that the encouraging response to the programme reflected the joint determination of cooperative members in Sabah to improve their movement to face current challenges and stressed that efforts to empower cooperatives in the state required close support and cooperation between the federal and state governments.

The performance of the cooperative movement in Sabah until Dec 31, 2024 showed positive development with 1,994 cooperatives registered and 375,559 members, while total share capital and collected fees exceeded RM273.37 million with a combined asset value of RM1.008 billion, while revenue was recorded at RM774.45 million.

-- BERNAMA