Thursday, 16 February 2012 07:31


More irregularities, leakages in co-op umbrella Angkasa




The Malaysian National Cooperative Movement, or Angkasa, is in another hot soup, this time following a claim by the Muslim Entrepreneurs, Consultants and Directors Association (Uruskop) alleging that the leakages in the cooperative umbrella body amounted to millions of ringgit.


In a memorandum sent to the Prime Minister’s Office, Uruskop president Mustafa Kamal Maulut said it involved a loss of RM6.5 million in land acquisition, the accumulation of wealth by Angkasa’s offices amounting to millions and the violation of Section 30 (5) of cooperative rules in its purchase of seven Toyata Camry cars for RM1.27 million, far beyond the 2010 budget of RM400,000.


“In 2009, Angkasa was also found to spend RM2.62 million for its general assembly convention, exceeding 31 percent of the allocated RM2 million from the allocation fixed in its annual budget,” said Mustafa.


As such, Mustafa said Angkasa had also violated Rule 14(2) of the Cooperative Act 1995 which stipulates that all expenses must not exceed five percent of the allocation approved by the general assembly.


Mustafa said the Malaysian Cooperative Commission (SKM) had also confirmed irregularities within Angkasa in 2010.


“However, no action has been taken to date,” he added.


Mustafa, who heads Ukhwah cooperative, also questioned the credibility of Angkasa president Mohd Ali Baharum in leading the body, saying he had been involved in quick-rich activities in the past which caused losses to investors.


“This issue cannot be taken lightly as it affects the fate of 8,500 cooperatives which have 9 million members, 92 percent of them being low earners from among the Bumiputera. There are just too many irregularities in Angkasa that we are forced to take this straight to the prime minister and urge for action to be taken against irresponsible parties,” he added.


-Harakahdaily