School co-ops should venture into high-impact business - Angkasa

School cooperatives should venture into high-impact business to increase revenue and profit, Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) President Datuk Abdul Fattah Abdullah said.

He cited retail business as one of the areas as 500 school co-ops nationwide were involved in the sector, with four of them getting more than RM1 million in profit a year.

So far, the total profit obtained by 2,349 school co-ops nationwide rose from RM311 million in 2013 to RM321 million in 2014 and RM338 million in 2015, he told reporters after attending a special programme on the Penang school co-op business development in 2017, here Wednesday.

Abdul Fattah said Angkasa targeted the total profit of school co-ops nationwide would increase to RM500 million in 2020, with 50 of them recording more than RM1 million profit a year.

Meanwhile, he urged parent teacher associations to encourage students to be more active in school co-ops to enable them to learn about entrepreneurial skills and business integrity, besides earning dividends.

Parents should also support school co-ops by buying books and stationery from them and invest in their shares, he added. - BERNAMA