ANGKASA’s cooperation with IFFCO to unlock more M’sia-India biz opportunities

By AUFA MARDHIAH / pic sourced from ANGKASA

ANGKATAN Koperasi Kebangsaan Malaysia Berhad (ANGKASA) welcomes the proposed bilateral cooperation with the Indian Farmers Fertiliser Cooperative Limited (IFFCO) to unlock more business opportunities for both countries’ cooperative movement, as well as providing employment opportunities.

ANGKASA President Datuk Seri Dr. Abdul Fattah Abdullah said that the courtesy call held at Wisma Ungku A. Aziz, Kelana Jaya today proved the international cooperatives confidence in ANGKASA’s leadership in developing and moving cooperative businesses in the country for 51 years since its establishment.

He also said that ANGKASA will look at any form of reciprocal cooperation to offer products and services cooperatives that can be offered to IFFCO.

“ANGKASA is very pleased when the world’s best cooperative, IFFCO, is present to discuss strategic cooperation that can be developed and implemented to provide long-term benefits to this movement. IFFCO is fully owned by the Cooperative Societies of India and is the largest fertiliser manufacturer in the country. 

This cooperation will benefit cooperatives involved in the plantation sector and the agriculture sector and agro-based industries where ANGKASA will obtain fertiliser supplies from IFFCO at affordable prices,” he added.

ANGKASA’s collaboration with the parent body is not a first-timer; previously ANGASA  collaborated with the National Agricultural Co-operative Federation (NACF) on efforts to increase dairy production and dairy products through crossbreeding of cattle species through projects at the Heifer’s Park.

As the apex body of the national cooperative movement recognized by the government, ANGKASA continuously seeks to establish strategic cooperation with foreign cooperatives to match specific sectors ventured by domestic cooperatives for potential knowledge, expertise and technology sharing to expand business in wider markets.

ANGKASA is confident that this effort will increase the revenue of the cooperative movement and its contribution to the national economy and the well-being of its members.

As of June 2021, ANGKASA has 14,657 cooperatives nationwide with an individual membership of about 7.04 million people, total share capital/ fees of RM16.3 billion and total assets of RM152.1 billion. The revenue of the cooperative movement recorded RM41.5 billion as at 31 December 2020, as reported by the Malaysian Cooperative Commission.