KUALA LUMPUR: Bedi Bhd has proposed to dispose of a double-storey hypermarket building in Sandakan, Sabah, for RM85mil.
In a filing with Bursa Malaysia, the property developer said its indirect wholly-owned subsidiary, Asterasia Sdn Bhd (ASB), signed a conditional sale and purchase agreement with Mydin Wholesale Cash and Carry Sdn Bhd (MWCC) for the proposed disposal.
The property, located in Sandakan, sits on 1.78 hectares of leasehold land and is occupied by Mydin Mohamed Holdings Bhd (MMHB) under a 20-year lease that commenced in May 2019.
Built about 6.5 years ago, the hypermarket has a gross floor area of 187,099 sq ft and generated RM8.84mil in rental income for the 15-month period ended March 31, 2025.
“The proposed disposal is part of the group’s ongoing initiatives to rationalise its assets, with the objective to further improve the group’s overall financial position and meet its strategic business goals in the property development industry,” Bedi said.
The group is expected to record an estimated net pro forma gain of approximately RM22.10mil from the proposed disposal.
