Asset management in Malaysia: current status

Abstract

Asset management is a rapidly growing practice in response to changes in urban development and becoming one of the important practices in Malaysia. As a result, the Malaysian government has raised awareness of asset management to manage and maintain government assets. Thus, the Malaysian government has established MySPATA, a fixed asset management system used by all government ministries to help agencies standardize, manage, and monitor fixed assets. The four asset management documents used in MySPATA are the Government Asset Management Policy (DPAK), Government Comprehensive Asset Management Manual (MPAM), Government Immovable Asset Management Procedures (TPATA), and Immovable Asset Management System. Asset management is concerned mainly with operating assets in Malaysia, including their management, monitoring, maintenance, and disposal. Government agencies are charged with supervising governments and enabling the delivery of public services. Thus, asset management policies and processes are critical for delivering and assisting in effective asset management. Asset management must be effective and efficient to ensure that the assets provided can be handled and utilized for the intended purpose. This study examines Malaysia's current asset management practices and identifies the advantages and disadvantages of the current approach.