KUALA LUMPUR: A total 12 credit cooperatives have been recommended for dissolution of their registrations effective today, said Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Hamzah Zainudin.
He said the action was taken based on the inspections conducted under Section 64 Act 502 (Co-operative Societies Act) by the Cooperative Commission of Malaysia which found that the cooperatives were no longer active and dormant. “The dissolutions are to prevent certain quarters from using the cooperatives as conduits to channel large amounts of funds and open more credit co-operatives which will affect the image of credit activities conducted by genuine cooperatives,” he said in a statement today.
The credit cooperatives affected were Koperasi Kaum Ibu Permatang Pasir Port Dickson Berhad; Koperasi Telok Kemang Port Dickson Berhad; Koperasi Penjaja-Penjaja Saratok Berhad; Koperasi Al-Qardhul Hasan Bukit Besar Kuala Terengganu (Koqaha) Berhad; Koperasi Talasco Berhad; Koperasi Pekerja-Pekerja Syarikat Insurans Berhad.
Koperasi Kakitangan Jabatan Kebajikan Masyarakat Malaysia Berhad; Koperasi Pendidikan Berhad; Koperasi Bumiputera Lundu Berhad; Koperasi Pauh Butut Berhad; Koperasi Serbaguna Kampong Bongor Berhad and Koperasi Kaum Ibu Kampong Saring Berhad.