CEP was formed by ANGKASA under its Strategic Economic Masterplan to set a broader direction for the co-operative movement in Malaysia, enabling them to be the prime mover of socio-economic activities in the country. CEP also heavily revolves around the eight high impact sectors to be ventured into by co-operatives to drive the Co-operative Sector towards high-income and to be an effective contributor to the nation’s Gross Domestic Product GDP. For the first half of 2018, a total of USD5.38 billion in revenue has been generated by the co-operatives. This number represents 3.78 percent of USD142 billion, the total GDP recorded in the same period. Through CEP, co-operatives
1 is the main projects of ANGKASA. CEP 2 is when two or more co-operatives in the same function together in one project, while CEP 3 is projects that have a high economy or social impact led by a co-operative. Each high impact sector carries its own set of CEPs. For example, one of the projects categorized under CEP 1 and falls under the Agriculture and Agro-based Industry Sector is a collaboration between ANGKASA and MARDI Officers Co-operative (KOMARDI), which will result in the production of virgin dairy calves. This project will help co-operatives becoming one of the key players in the country’s dairy industry. Group Chief Executive Officer (CEO) of ANGKASA, Mr. Nasir Khan Yahaya said co-operatives in Malaysia are committed in assisting people to cope with the high cost of living, but this commitment has always received less recognition due to the little knowledge or information people have about co-operative in general and its roles. Mr. Yahaya added that through CEP, the co-operative movement is hopeful to be viewed as the third sector after public and private sectors.
look to increase its contribution to the GDP as the government also expects the sector’s revenue to reach USD12 billion by 2020. CEP is divided into three stages. The first stage or also known as CEP
» Group CEO of ANGKASA, Mr. Nasir Khan Yahaya speaks during session 1 of “Co- operatives contribution in helping economies become more resilient and sustainable” at the 10th ICA Asia and Pacific Co-operative Forum held at Tehran, Iran on November 28th, 2018.
60 PELANCAR January 2019
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