BIDMYASSET EXPANDS INTO EAST MALAYSIA WITH OFFICIAL LAUNCH OF BIDMYASSET BORNEO IN KUCHING

BIDMYASSET EXPANDS INTO EAST MALAYSIA WITH OFFICIAL LAUNCH OF BIDMYASSET BORNEO IN KUCHING

BidMyAsset today officially launched BidMyAsset Borneo at The Waterfront Hotel, Kuching, bringing its industrial asset disposal platform to East Malaysia for the first time. The launch was officiated by Yang Berhormat Datuk Dr. Haji Hazland bin Abang Hipni, Deputy Minister for Energy and Environmental Sustainability, Sarawak.

Sarawak is one of Southeast Asia’s most significant energy producers, accounting for the majority of Malaysia’s liquefied natural gas exports and home to some of the region’s largest upstream and downstream oil and gas operations. 

Under PCDS 2030, the state is targeting RM282 billion in gross domestic product by 2030, driven by the expansion of high-growth sectors including oil and gas, green energy, and advanced manufacturing, cementing its position as a global energy hub while attracting investment at a scale that few other states in the region can match. At the same time, established industries such as timber and forestry are evolving, with companies rationalising operations and retiring significant volumes of machinery and equipment that still carry substantial market value.

This creates a structural challenge that sits at the intersection of capital efficiency and sustainability. Across Sarawak’s industrial base, surplus assets are being written off or left idle rather than recovered and redeployed, resulting in capital that leaves the system instead of being reinvested into the state’s growth. For an economy moving as quickly as Sarawak’s, that leakage matters.

The challenge is not unique to Sarawak. Across Southeast Asia, businesses are collectively sitting on hundreds of billions of dollars worth of idle or underutilised industrial assets. What has been missing, particularly in East Malaysia, is the infrastructure to connect sellers with the right buyers, at the right time, through a transaction process that both sides can trust.

Mr. Amirul Annuar, Director, BidMyAsset Borneo Sdn. Bhd

“Sarawak is building its position as one of Southeast Asia’s key oil and gas and energy hubs, and we see BidMyAsset Borneo playing an important role in supporting that growth. Our focus is to build the region’s trusted hub for industrial asset recovery — providing oil and gas operators with an end-to-end platform for valuation, disposal, logistics, secure transactions and redeployment. By connecting Sarawak’s energy sector with buyers across the region, we can help companies recover greater value from their assets, improve capital efficiency and keep productive equipment circulating within the industry,” said Mr. Amirul Annuar, Director, BidMyAsset Borneo Sdn. Bhd.

Sarawak Sustainability Blueprint 2030 identifies the circular economy as a core strategic thrust, with a mandate to keep resources productive for as long as possible and reduce industrial waste across the state’s key sectors. BidMyAsset Borneo’s model is directly aligned with this agenda. By facilitating the sale and redeployment of surplus industrial assets, the platform extends the productive life of machinery and equipment, reduces the environmental cost of premature disposal, and keeps capital circulating within Sarawak’s economy rather than being written off.

This also supports Sarawak’s broader ESG commitments. The recovery and redeployment of industrial assets reduces the demand for new manufacturing, lowers the carbon footprint associated with industrial operations, and contributes to the measurable sustainability targets that Sarawak’s businesses are increasingly required to report against under Bursa Malaysia’s Sustainability Reporting framework.

YB Datuk Dr. Haji Hazland bin Abang Hipni, Deputy Minister for Energy and Environmental Sustainability, Sarawak.

“Under PCDS 2030 and our Sustainability Blueprint, the optimisation of assets and the building of a circular economy are strategic priorities, not aspirations. Capital that sits idle is capital that is not contributing to this state’s growth. When businesses build the platforms and partnerships that support how Sarawak’s industries grow and transition, they are contributing to something larger than their own commercial interest. They are helping to build the ecosystem that will carry this state forward,” said YB Datuk Dr. Haji Hazland bin Abang Hipni, Deputy Minister for Energy and Environmental Sustainability, Sarawak.

BidMyAsset Borneo also reflects Sarawak’s growing ambition as a regional industrial player. With Sarawak actively positioning itself as a hub for the oil and gas sector across Southeast Asia, the need for structured, reliable asset recovery infrastructure becomes increasingly important. As upstream and downstream operators in the energy sector regularly commission and decommission large-scale equipment, having a platform that can efficiently manage those asset cycles and connect Sarawak’s sellers to buyers across the region is a critical piece of the state’s industrial ecosystem.

BidMyAsset currently operates across Malaysia, Thailand, India and Vietnam, with a regional buyer network that spans multiple industries and markets across Southeast Asia. The establishment of BidMyAsset Borneo brings that network directly to East Malaysia’s doorstep. For more information, visit www.bidmyasset.com 

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