BidMyAsset launches first East M’sia operation

KUCHING: BidMyAsset has launched its Borneo operation here, marking what it described as its first East Malaysia expansion.

BidMyAsset Borneo Sdn Bhd director Amirul Annuar said the company would manage industrial asset disposal from the initial assessment of equipment through to transactions and final delivery.

“Companies deciding to dispose of machinery or other assets could engage BidMyAsset to manage the different stages rather than handling the process themselves,” he said.

He said this during the launching of BidMyAsset Borneo at the Waterfront Hotel here yesterday.

He said the company would first assess an asset and study the market before identifying an appropriate disposal strategy.

BidMyAsset would then identify potential buyers, market the equipment, manage the auction and transaction, and coordinate dismantling, packing and shipping when required, he said.

“We assess the asset, study the market, identify the right disposal strategy, market it to the right buyers, manage the auction and transaction, and when needed, coordinate dismantling, packing, and shipping.

“In short, we manage the entire process from valuation to final delivery.”

He added that the company’s services also included asset valuation, buying and selling, logistics, insurance, environmental, social and governance reporting, and escrow-backed payment management.

“BidMyAsset aims to manage the disposal process with greater transparency and efficiency, including coordinating the physical movement of equipment where required.

“We would also focus on providing oil and gas operators with services covering valuation, disposal, logistics, secure transactions and redeployment.”

In conjunction with the launching, BidMyAsset Borneo also signed a memorandum of understanding (MoU) with NuraTech Sdn Bhd.

Under the partnership, the company said NuraTech would help connect BidMyAsset Borneo with its existing networks for the disposal and purchase of assets.

Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni said the launch represented the type of private-sector response the Sarawak government welcomed as industries in the state continued to grow and transition.

“What we are seeing today is exactly the kind of private sector response that we welcome,” he said.

He said businesses that developed platforms, partnerships and infrastructure supporting industrial growth and transition were contributing to the wider ecosystem the state wanted to build.

“When businesses build the platforms, the partnerships, and the infrastructure that support how Sarawak’s industries grow and transition, they are not just serving their own commercial interests.

“They are helping to build the ecosystem that will carry the state forward.”

He said the government’s commitment to that ecosystem was firm and that it would continue providing the conditions businesses needed to operate and invest in Sarawak.

“We will continue to create the policy environment, the regulatory clarity, and the institutional support that businesses need to operate and to invest here with confidence,” he said.

He said the state expected a corresponding level of commitment and long-term thinking from the private sector.

“What we ask is that the private sector brings the same level of commitment and the same long-term thinking to the whole industry,” he said.