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Online bidding for auctioned properties starting July 2016

Malaysians will be able to bid for property at auctions online come July this year. Malaysians will be able to bid for property at auctions online come July this year.

Malaysians will be able to bid for property at auctions online come July instead of going to court in peninsular Malaysia, Chief Justice Tun Arifin Zakaria said today.

Arifin announced that the e-Bidding process will be launched to replace the manual Public Auction process in the High Court in Malaya.

“With the e-Bidding, the bidding process will be more transparent as it will be opened to more prospective bidders. This will also help to hasten the debt recovery process.

“And of equal importance, the e-Bidding will eliminate any syndicate which tends to interfere with bidding process which may lead to artificial pricing,” he announced today during the ceremonial opening of Malaysia’s Legal Year 2016.

Arifin said the judiciary is currently collecting views from the Malaysian Bar, the Attorney-General’s Chambers and auctioneers on the planned e-Bidding initiative, with a preliminary workshop already held last November with the cooperation of the Malaysia Productivity Corporation (MPC) and the Special Task Force to Facilitate Business (PEMUDAH).

Arifin also announced that there will be a one-stop centre in Kuantan to deposit all Power of Attorney documents from the High Court throughout peninsular Malaysia, adding that online filing and searches for such documents will also be available.

 

News Source: The Malay Mail, 8 January 2016

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