• Trade Ministry To Table Amendment On Co-operative Societies Act 1993

    Reporter: Dayyan Mikhail
    Published: Thursday, 22 February 2018
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    PETALING JAYA: The Domestic Trade, Cooperatives and Consumerism Ministry is set to table the amendment Co-operative Societies Act 1993 (Amendment) 2007 or Act 502 in the Dewan Rakyat next month.

    Its minister Datuk Seri Hamzah Zainudin said the ministry will not change the act but it will be amending it holistically.

    "The act will be debated in the parliament session next month. It would be an inclusive approach to all especially for the newly established cooperatives.

    "The act is to increase professionalism and ensure good governance in cooperatives, and put them at the top globally," said Hamzah during the Memorandum of Collaboration (MoC) exchange ceremony between MyAngkasa Holdings Sdn Bhd and ASN Mobile Sdn Bhd here today.

    Also present at the ceremony was Malaysian National Co-operative Movement (Angkasa) Datuk Abdul Fattah Abdullah.

    Hamzah also said the act would ensure that the public can make use of the cooperative as a platform that could strengthen relationship among the people.

    "It doesn’t mean that with this act, Angkasa would be left out and is not important to the government.

    "The cooperatives should be upgraded and improve. The understanding of the act may not be as clear now but when it is approved, the public will understand.

    "The act will be amended according to the current situation, as now we are moving towards the era of technology," he added.

    Meanwhile, Hamzah, who is also the Umno supreme council member, when asked if Prime Minister Datuk Seri Najib Razak has given any hint with regards to the upcoming general election in the Cabinet meeting on Wednesday, he claimed that Najib has given the clue.

    Hamzah, however, refused to elaborate more.

    "Yes, he did give us a hint... he told us to work hard to ensure Barisan Nasional wins in the next general election," he said.-NST

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