Small Cooperatives Urged to Merge and Go Big in Poultry17 July 2012
MALAYSIA - Small cooperatives, which are planning to merge, should consider venturing into the poultry industry and farming on a large scale in view of their high commercial value.
According to Bernama.com, Deputy Minister of Domestic Trade, Cooperatives and Consumerism Datuk Tan Lian Hoe said the mergers would enable small cooperatives to increase their competitiveness and production to cater to demand.
"The ability to produce more products can be marketed not only in Malaysia but also internationally," she told reporters on the sideline of the launch of the "Competition Act 2010: Handbook for General Public".
Ms Tan said the small cooperatives must take advantage of the 1Malaysia Cooperatives Economic Funding Scheme (SPEAK1M), launched by Prime Minister Datuk Seri Najib Tun Razak on Saturday.
The microfinance fund will be channelled to small-scale cooperatives to generate economic activities of its members with basic assistance of RM50,000. Earlier, Tan said the publication of the public handbook on Competition Act 2010 will be instrumental in raising awareness on the new act regarding the rights and responsibilities of enterprises.
"The act applies to all enterprises that carry out commercial activities at all levels of the supply chain and through better understanding of the act, all parties can conduct their self assessment," she said.
The act was passed by Parliament in 2010 and came into force on 1 January this year.
The Malaysia Competition Commission (MyCC) which was established in June 2011 is an independent body responsible for enforcing it.