GEORGE TOWN: Licensed auctioneers nationwide are urging the Federal Government to fully review and improve the implementation of the e-Lelong system to help those currently losing their livelihoods.

       Auctioneer Action Committee member Muzakir Mansor said they were urging for the system to be changed to a "hybrid lelong" system.

       "The implementation of the e-Lelong system which started on January 1 last year has completely taken away their work at public auctions," said Muzakir.

       "There are over 2,300 of us nationwide and prior to the implementation there was a system in place for us to work with the banks on public auctions," he added.

       Muzakir said that auctioneers have lost around RM11mil in income since Jan 1, 2020

       "An auctioneer can earn RM5,000 a month based on their respective rates in different states. Our lives have been severely affected by the implementation of the e-Lelong system as our duties in helping to conduct public auctions have been discontinued," he added.

       "We do not oppose the e-Lelong system but we want to be part of this system and ask the Federal government to improve the existing system to include us in it," he said in a press conference here on Wednesday (Sept 15).

       Muzakir - who is also the Penang Auctioneers Association chairman earlier handed over a memorandum to improve the e-Lelong system - to Yang di-Pertua Negri Tun Ahmad Fuzi Abdul Razak, which was presented to Ahmad Fuzi's private secretary Mohd Abdul Rahman Ismail at the hotel.

       The e-Lelong system was first implemented nationwide on January 1, 2020 and it was developed to conduct online public auctions.

       It was said to be able to increase the chances of the public to own fixed assets, especially residential houses at real value without price manipulation.

       Muzakir said he was worried that the e-Lelong system would possibly cause the real estate auction industry to be monopolised as the termination of their services currently caused the industry to be controlled by less than 10 large scale auction companies who work as panels for the banks.