A PRELIMINARY STRATEGIC FRAMEWORK FOR IMPROVING PUBLIC ASSET MANAGEMENT IN MALAYSIA
DOI:
https://doi.org/10.21837/pm.v24i42.2026Keywords:
Public Asset Management, Financial Management, Strategic Framework, Lifecycle Costing, Asset Disposal, MalaysiaAbstract
Public asset management in Malaysia faces persistent financial challenges, including poor revenue collection, weak budgeting, outdated asset registers, limited digital integration, and delays in asset disposal. This study develops a document-based preliminary strategic framework to improve the financial management of public assets in Malaysia. Its novelty lies in integrating audit findings, policy documents, academic literature, and international asset management guidance into a finance-driven framework that links key financial issues with practical strategic responses. Using qualitative document analysis, 30 purposively selected documents published mainly between 2015 and 2025 were reviewed, including Auditor General’s Reports (2020–2024), DPAK, MPAM, TPATA, ISO 55000-related guidance, institutional reports, and academic articles selected based on relevance to public asset management, financial management, lifecycle costing, digital asset systems, asset disposal, and public sector governance. Thematic content analysis identified seven recurring financial issues: poor revenue collection, lack of lifecycle-based budgeting for operation and maintenance, inadequate digital tools, inefficient asset disposal, weak financial governance training, manual and outdated asset registers, and inconsistent policy implementation across agencies. These issues were matched with strategic responses, including smart payment systems, lifecycle costing, CMMS adoption, structured asset disposal, workforce financial training, digitalised asset registers, and standardised compliance monitoring. The framework is presented as a preliminary conceptual output derived from document analysis.
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