AN island and a helicopter are among assets that will go through the bidding process at the ‘Karnival Jelajah Dasar Peluang Kedua Insolvensi 2026’, which will be held nationwide starting June 26.
Director of Insolvency, Malaysian Insolvency Department, Mohd Mukhzany Fariz Mohd Mokhtar, said the department will also auction luxury yachts, cars and various other properties.
Although he did not set any target for the total proceeds from the bid, the purpose of the auction was to liquidate the assets to make it easier for individuals who were declared bankrupt to settle their debts.
"We are collecting assets that exist in Malaysia. So far, in Sabah, there will be one island that will be auctioned. We have a helicopter and a yacht.
"In Putrajaya, we will have an auction of luxury cars, including a Bentley and an Audi.
"Therefore, I cannot say how much will be collected from the auction because it will be subject to the bids made," he said as reported by Harian Metro, today.
In addition, he said, e-commerce platform operator Shopee and several companies will also come forward to hold an auction of unclaimed goods starting at RM1.
Earlier, Minister in the Prime Minister's Department (Legal Affairs and Institutional Reform), Datuk Seri Azalina Othman Said, officiated the pre-launch of the carnival.
Mohd Mukhzany said the carnival will be held in six zones, starting in Putrajaya before moving to other destinations and ending in Sabah (November) and Sarawak this December.
"Starting from June 26 to 28, we will be running it in the Central Zone, which includes the Kuala Lumpur, Selangor and Putrajaya areas and in July, we will go to Johor and Melaka.
"After that, we will go to the East Coast, which includes Pahang, Kelantan and Terengganu and in October, in the north, which is in Penang, Kedah and Perlis," he said.
He said that all assets auctioned at the carnival in Putrajaya will be listed via the Insolvency Department website starting this Thursday for those interested.
Bidders can also go directly to the carnival site on June 26, 27 and 28 and scan the QR code provided and buy an e-book to see the assets that will be auctioned on the dates involved.
Mohd Mukhzany said that his party imposed simple conditions, namely that anyone interested in bidding on the assets offered must register and log in to bid within two hours before the auction opens.
"Of course, at the carnival site, we will put up a schedule of when the bidding will be conducted. Bidding will also be made in stages according to the agencies involved in the auction.
"Through this carnival, we are introducing a process or working procedure that helps individuals who have been declared bankrupt to come out of bankruptcy," he said.
At the same time, Mohd Mukhzany said that although some of the assets to be auctioned involve high-value and luxurious assets, it does not mean that the bidding is only for the T20 group.
He said that through the bidding process, anyone has the opportunity to bid on the assets offered. – June 15, 2026
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