by AFIQ AZIZ / pic by MUHD AMIN NAHARUL

A NEW tertiary education centre specialised in the cooperative-related studies is expected to open for enrolment by the end of this year, said Entrepreneur Development and Cooperative Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar (picture).

Wan Junaidi said the university will enable young generations to be trained with a full set of knowledge related to the cooperative sector and its sustainability.

“We have more than 400 universities in Malaysia, but this will be a unique institution specialised in cooperative-related studies, which will strengthen knowledge on how to run a cooperative and survive further.

“The building is ready in Cyberjaya, but the ministry and the Cooperative Institute of Malaysia are ironing out the formality,” Wan Junaidi told the press at the launching of the Malaysian Cooperative Transformation Plan (TransKoM) 2021-2025 in Kuala Lumpur yesterday.

He added that the “hybrid university” will be self-sustained in line with the cooperative nature.

However, he said the government has agreed to let the building at a lower rate to assist the initiative.

On the syllabus, Wan Junaidi said the programmes designed by the university will cater to the needs outlined by the Co-operative Societies Act.

“The university will train the students on how to run and be part of cooperatives, as cooperatives have its own law and different set of rules, which is why it cannot be administered like a company,” he explained.

Through the institution, Wan Junaidi said the government is aiming to get more young entrepreneurs to partake in the cooperative sector.

“We saw that some cooperatives can generate up to RM100 million of income within three years. The board and its management are made up of young individuals. So, I believe we need to give more room for them,” he added.

Meanwhile, Wan Junaidi said the policy for the cooperative sector is expected to be tabled by the ministry soon. It is aimed to give a fresh vision for the sector while keeping the natural objective of the cooperative body.

“The policy, which is in line with the TransKom agenda, is expected to look and modernise the law and rules.

“We will look into the existing cooperatives laws if they are still relevant, and look at the dynamics.

“But the focus is still the same, which is to take care of the socio-economy of the cooperative members, how the prosperity of the cooperatives can be shared among the public and the new direction of cooperatives, including the digitisation adoption and initiatives that are mainly driven by the young generations,” he added.