Opus to develop culture of asset management in Malaysia

By Rupinder Singh
The New Straits Times Press (Malaysia)

OPUS International Group plc is actively pursuing strategies to change the mindset of Malaysian companies to include asset management strategies from the initial point of conception of any asset development projects.

The group hopes to replicate here the performance of its New Zealand unit, the largest asset management company there.

More than 50 per cent of Opus’ business in New Zealand is from asset management. In Malaysia, however, the saying “world-class infrastructure but third-class maintenance mentality” is often the case.

Group managing director Suhaimi Halim said the approach to maintenance should be proactive and not one of reacting to the poor performance of an asset. He said cost is not an issue in asset management, but rather a lack of education towards a structured approach in the long-term care of an asset.

Asset management is about prolonging the life of an asset and, hence, protecting one’s long-term investment, said Opus Group general manager Chin Chi Haw.

He said that unlike New Zealand, where there is a strong culture in asset management coupled with proper regulation, Malaysia’s model is driven instead by market forces.

A strong sense of ownership in preserving material assets and enhancing their worth is what Opus expects will drive the industry here. “It is a mindset change that we are trying to put in place. If everybody has that in mind, I think the role of asset management will slowly grow by itself,” Chin said.