KOTA KINABALU: A total of RM93.9 million in financing has been approved for 34 cooperatives in Sabah through the Malaysian Cooperative Commission’s Revolving Capital Fund (TMPSKM) for the period 2022 to 2026.
Deputy Chief Minister III and State Industrial Development, Entrepreneurship, and Transport Minister Datuk Ewon Benedick stated that this approval reflects the government’s ongoing commitment to strengthening the role of cooperatives as a key driver of community economic growth.
He said despite a slight adjustment in the number of cooperatives receiving approvals between 2022 and 2026, the total value of financing disbursed has shown significant growth, with RM4.4 million approved in 2026 alone.
“This development highlights the focus on financing larger-scale and higher-impact projects,” he remarked after chairing the first Sabah State Cooperative Consultative Council (MPKN) meeting for the year.
Ewon, who was appointed as the new MPKN Sabah Chairman with effect from Feb 2, replacing Phoong Jin Zhe, also expressed his gratitude to Entrepreneur and Cooperatives Development Minister Steven Sim Chee Kong for the appointment.
He said MPKN Sabah serves as a critical platform for discussing and elevating state-level cooperative issues before they are brought to the National Cooperative Consultative Council (MPKK).
Meanwhile, Malaysian Cooperative Commission (SKM) Sabah Director Awang Ruslli Mohammad said the cooperative sector in Sabah had experienced robust growth between 2021 and 2025.
He revealed that the number of cooperatives grew from 1,652 in 2021 to 2,047 in 2025, with the most significant increase occurring between 2023 and 2024, which saw the registration of 196 new cooperatives.
Membership has also steadily increased, growing from 339,312 to 388,683 during the same period, demonstrating the rising public confidence in the cooperative sector.
From a financial standpoint, cooperative share capital nearly doubled, rising from RM56.79 million in 2021 to RM104.34 million in 2025. Additionally, annual fee collection grew from RM161.78 million to RM184.30 million.
Total cooperative assets exceeded RM1 billion in 2024, reaching RM1.172 billion in 2025, while annual revenue nearly doubled, jumping from RM470.84 million in 2021 to RM913.33 million in 2025.
Awang Ruslli said that all key growth indicators, such as share capital, assets, membership and revenue, expanded in tandem, with the period from 2024 to 2025 identified as a critical growth phase.
He added that 72 cooperatives received RM4.96 million in assistance between 2023 and 2025, with Kota Belud receiving the highest allocation of RM305,000, followed by Penampang with RM48,000.
