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SKM identifies cooperatives with ability to buy shares in listed companies, says Wan Junaidi | Malay Mail

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SIBU, Sept 16 — The Cooperative Commission of Malaysia (SKM) has identified several local cooperatives which have the ability to acquire shares in competitive and successful companies listed on Bursa Malaysia Securities. Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi...

Wednesday, 16 Sep 2020 04:50 PM MYT

Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar today said cooperatives have the ability to lead in the acquisition of stakes in public listed companies which could further increase their income. “SKM’s duty is to advise so that the cooperatives do not divert from their purpose and and lost their direction... also afraid they will get involved in the ‘wrong’ company which don’t bring in income,” he said.

He said the existing regulations under the Cooperative Societies Act 1993 has already required any cooperative institution board to undergo certain courses in managing their cooperatives.

 

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