The cooperative movement was first introduced in this country in 1922 and has since experienced rapid growth. The purpose of the National Cooperative Day is to highlight the activities, roles, and direction of the cooperative movement, as well as to raise public awareness of the significant role cooperatives play in the nation’s economic and social development.

The National Cooperative Day (HKN) is an annual event organized by the Malaysia Co-operative Societies Commission (SKM) in collaboration with the Ministry of Entrepreneur and Cooperatives Development (MECD). This event is held as a mark of the Government's recognition of the cooperative movement for its contributions and role in the socio-economic development of the country.

The objectives of the National Cooperative Day celebration are to:

• Foster a spirit of cooperation among cooperatives.
• Acknowledge and appreciate cooperatives for their contributions to the cooperative movement.
• Evaluate the achievements of the cooperative movement in the economic and social sectors in line with the concepts, principles, and philosophy of cooperatives.
• Gather new ideas to strengthen the management, administration, and business operations of cooperatives in accordance with the National Cooperative Policy.