PETALING JAYA: Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) is asking for an allocation of RM300 million in the upcoming Budget 2019, which will be allocated to cooperatives across eight sectors.
Angkasa’s president Datuk Abdul Fattah Abdullah said last year, it received RM100 million through the Cooperatives Commission and Koperasi Jayadiri Malaysia Bhd, which channeled RM50 million each.
This, Abdul Fattah said is necessary in steering co-operatives in the country towards achieving the target of contributing RM50 billion to the national gross domestic product (GDP) by 2020.
Last year, the cooperative sector contributed RM40.2 billion or 3%-4% to the GDP.
Earlier at the event today, Angkasa and the Asean Co-operatives Organisation entered into a memorandum of understanding with Johor Corp’s subsidiary Virtualflex Sdn Bhd to facilitate the adoption of Virtualflex’s KA$H card among cooperatives.
KA$H is a prepaid mastercard which also functions as an ATM, an e-wallet as well as offering cash back and rewards.
Source: The Sun Daily