PENANG State Secretary Datuk Abdul Razak Jaafar has expressed hope that the Federal Government could consider implementing hybrid auctions.
“We cannot deny that the online bidding system, e-Lelong, has advantages. Going online is currently the new normal.
“People are taking their businesses online. Meetings and seminars are also done virtually.
“The e-Lelong allows the public to own fixed assets at actual prices without price manipulations. It also allows the bidder to bid online without having to be present in court.
“Yes, we know that there are organisations that oppose the online bidding system. They question the future of traditional auctioneers.
“Therefore, I hope that the Federal Government will consider implementing the hybrid auctions,” he said in his speech during the ‘Seminar Pelelong Awam Malaysia’ in Bayview Hotel George Town today.
Abdul Razak said the event was an initiative by the state government to provide a platform for new auctioneers to learn and network.
“I am happy that the seminar is conducted smoothly under strict standard operating procedure (SOP). We must adhere to the SOP to prevent the spread of Covid-19,” he added.
Valuation and Property Services Department director general A’zmi Abdul Latif said the year 2020 is a challenging year for all sectors including the real estate sector.
“The real estate sector is expected to feel the ‘direct effect’ of the Covid-19 in the next six to 12 months.
“I strongly urge all professions in the real estate sector, especially auctioneers, to take creative and proactive approaches. Learn to adapt to the new normal,” he said.
Also present was Penang Valuation and Property Services Department director Amran Mat Yaacob.
Story by Christopher Tan
Pix by Noor Siti Nabilah Noorazis