Immediate assistance has been provided to approximately 7,779 cooperatives that failed to maintain their accounts as required by the Cooperative Societies Act 1993, says Datuk Seri R. Ramanan.
The Deputy Entrepreneur Development and Cooperatives Minister told the Dewan Rakyat on Monday (Dec 9) that 2,304 cooperatives have not audited their accounts as needed under Section 60 of the same Act.
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The Deputy Entrepreneur Development and Cooperatives Minister told the Dewan Rakyat on Monday (Dec 9) that 2,304 cooperatives have not audited their accounts as needed under Section 60 of the same Act.
Read more at https://tinyurl.com/y5uxdxfd
WATCH MORE: https://thestartv.com/c/news
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NewsTranscript
00:00I have heard the answer of Minister Malamantri earlier,
00:04also related to what I want to ask about small and micro-corporations.
00:12As we know, after the country was hit by the COVID-19 pandemic,
00:18many small and micro-corporations are facing problems
00:24following their businesses that are affected badly.
00:28So, my question is, how many small and micro-corporations
00:36have failed to provide regular accounts?
00:42As a result, they cannot be audited.
00:48Is there any specific approach from the government
00:56to help small and micro-corporations
01:00so that they can continue their business
01:06and maintain regular accounts?
01:14Thank you, Mr. Mohamad.
01:17Actually, for small and micro-corporations
01:23that have been hit by the COVID-19 pandemic,
01:29disaster assistance has been provided.
01:32Emergency assistance and recovery efforts
01:36have been provided for those small and micro-corporations.
01:39For your information,
01:42there are 7,779 small and micro-corporations
01:47that have failed to provide regular accounts.
01:54There are also 2,304 small and micro-corporations
01:59that have failed to provide regular accounts.
02:04However, these small and micro-corporations
02:07have been given guidance,
02:09and all the information received by the SKM
02:13has been handled after they have received assistance.
02:16For example, grant assistance,
02:18assistance from the Revenue and Investment Fund,
02:20as well as the Jajak Programme,
02:22which is assistance for small and micro-corporations
02:24that handle tourism activities.
02:27Indeed, this issue exists.
02:30Among the issues,
02:32they have not submitted their accounts
02:37and audits.
02:39However, this issue is being solved
02:41with a lot of guidance and training courses
02:45and also assistance from the SKM
02:48to provide those accounts.