Borneo's BidMyAsset helps to recover the value of Sarawak's industrial assets

KUCHING, Sept. 17: The official launch of BidMyAsset Borneo in Kuching is seen as opening an opportunity to recover the value of disused industrial assets, thus supporting Sarawak's economic growth.

Director of BidMyAsset Borneo Sdn. Bhd., Amirul Annuar said the platform helps asset owners recover value from industrial assets that are no longer needed for re-use as business capital.

"We evaluate the assets, analyze markets, identify appropriate disposal strategies, market them to the right buyers, manage options and transactions and when necessary, coordinate opening, packing and delivery work.

"We are helping companies take what they no longer need and convert it into capital for the next step, in line with Sarawak's current trend of PCDS 2030 which emphasizes better utilization of existing assets", he said.

He said this while addressing the official launch of BidMyAsset Borneo at The Waterfront Hotel, Kuching, which was inaugurated by Sarawak Deputy Minister of Energy and Environmental Sustainability, Datuk Dr Hazland Abang Hipni, today.

According to Amirul, Borneo's BidMyAsset business model also supports the Sarawak Cycle Economic Agenda and post-COVID-19 Development Strategy (PCDS 2030) goals through optimization of existing asset use.

He said that Sarawak is a strategic location for the expansion of BidMyAsset Borneo following ongoing transformations in the oil and gas sector, manufacturing as well as various other industries.

He said the development creates opportunities for companies to recover value from assets that are no longer needed and reinvest them to support business growth as well as state economy.

"So to every business owner and asset manager, before you dismiss old assets as a loss or consider them as bad iron, come talk to us first.

"Maybe it's higher than you think", he said again.

BidMyAsset currently operates in Malaysia, Thailand, India and Vietnam, with a network of buyers covering various industries as well as markets in Southeast Asia.

The launch of BidMyAsset Borneo in Kuching marks the expansion of the platform to East Malaysia, thus bringing regional purchaser networks closer to industrial asset owners in Sarawak. -TVS