Cooperatives under SKM will offer five essential items under its newly formed COOP brand which are sugar, cooking oil, flour, rice, and frozen chicken at a much lower price starting in September.
Entrepreneur and Cooperative Development Minister Tan Sri Noh Omar said the brand, under the initiative Malaysia Co-operative Societies Commission is expected to be between 10 and 25 percent cheaper than local market prices.
The items will be would be imported from Thailand, Indonesia, Pakistan, India, and India by the cooperative directly without the use of middlemen hence will be able to sell the products at cheaper prices. At the initial stage, they will market the products at the existing 3,000 cooperative shops in the country, and if the responses are overwhelming they will be extended beyond the cooperatives.
The Minister also warned to those who do not comply with the rules set by the commission will have their COOP licenses revoked.