PETALING JAYA: Bedi Bhd is acquiring a piece of land measuring approximately 15.99 acres in Bukit Padang, Kota Kinabalu, Sabah, from five individuals for RM15.92mil.
In a filing with Bursa Malaysia, the property firm said its wholly-owned subsidiary, Wah Mie Realty Sdn Bhd, is acquiring the land from Lee Fui Chen, Lee Vun Yeng, Lee Vun Yee, Lee Tien Rui and Lee Sheng Chieh.
Bedi said the land is located in a well-established area with access to key infrastructure and amenities.
“The proposed acquisition is expected to enhance the group’s landbank and strengthen its project pipeline, providing greater earnings visibility and supports the company’s longer-term strategy to secure land in strategic locations for future mix development.”
Bedi said the proposed acquisition will be satisfied in cash and funded via bank borrowings.
“Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the proposed acquisition is expected to be completed by the second quarter of 2026,” its said.
