Abstract
Asset, infrastructure and business can be destroyed in a split seconds. It only takes a minute for natural disasters such as flood, hurricane and others to happen that will stop the business process and destroying the business as well as their assets. Late response towards the disaster will bring disastrous impact not only to the people but also the social and economic of the impacted people and area. It is therefore important for the organization to ensure speedy recovery of the disaster’s impact such as the assets in an effort to ensure the business survival and facilitating societal and economic recovery. Therefore this paper examines the state of knowledge in relation to the asset management recovery especially after the disaster. Following to that, this paper will discuss the literatures involves in asset management recovery such as disaster management and business continuity plan (BCP). Towards the end, this paper suggests that the effect of lack of planning in asset management recovery will lead to an untold damage towards the community, organization as well as the business, taking months or even years to rectify. In some cases, businesses are shut down for goods due to loss data as well as other emerge problems cause by the disaster.
Highlights
Malaysia can be considered as one of the blessed countries because of its geographic location that prevents it from the threat of severe natural disaster like volcanic eruptions and cyclones [1]
Malaysia is well known as a country that is prone to major flooding event that occurs once a year due to the northeast monsoon that bring heavy downpour
As many as 250,000 people need to be placed at the evacuation centre and great efforts have been taken to reduce the impacts that it caused such as the disruption of the victims life, the health issues, the polluted environment and the massive costs encompass in the redevelopment of the assets and infrastructure
Summary
Malaysia can be considered as one of the blessed countries because of its geographic location that prevents it from the threat of severe natural disaster like volcanic eruptions and cyclones [1]. As many as 250,000 people need to be placed at the evacuation centre and great efforts have been taken to reduce the impacts that it caused such as the disruption of the victims life, the health issues, the polluted environment (due to the mud comes from the flood) and the massive costs encompass in the redevelopment of the assets and infrastructure It is reported by [2] that the estimated costs of repair for the assets and redevelopment has exceed several billion of ringgit in expenses which is 10 times more higher than the usual amount spend despite the country’s knowledge about the disaster and earlier preparation that have been carried out. The community will need and require tremendous help and effort for them to get back on their feet and recover
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