He said 90 registered cooperatives have made investment applications worth RM1.43bil to the Malaysia Cooperative Societies Commission and 620 cooperatives have invested in initial public offerings totalling RM14.31bil.
He said cooperatives need to be bold and creative in their abilities to develop new business models to explore green technology in line with the current shift in interest of the world community. Additionally, Tengku Zafrul said cooperatives need to take opportunities to innovate in order not to miss out on opportunities and new sectors that have emerged post-pandemic.“The cooperative movement is one of the ‘growth’ engines contributing to the country’s gross domestic product that can transform and empower the local community,” he said.He is also confident that the Malaysian economy is capable of achieving the official 2022 GDP forecast of between 5.3% and 6.3%.