KUALA LUMPUR: Bedi Bhd has proposed to dispose of an industrial property in Kota Kinabalu, Sabah for RM14.3mil cash as part of efforts to unlock the value of non-core assets and strengthen its financial position.
In a filing with Bursa Malaysia, the property firm said its indirect wholly-owned subsidiary, Wah Mie Realty Sdn Bhd, had entered into a sale and purchase agreement with S.W.E. Elektrikal Sdn Bhd for the disposal.
The property comprises a 1.15-acre leasehold commercial land at Mile 5, Tuaran Road, Kota Kinabalu, together with two warehouses and a one-storey office and showroom block erected on the site.
Bedi said the disposal consideration represents an 11.7% premium over the property’s independent market valuation of RM12.8mil as at Oct 1, 2024.
The group said the disposal will generate gross proceeds of RM14.3mil, with net proceeds of about RM9.8mil after deducting estimated expenses and tax payments.
It said the net proceeds will be used mainly for RM3mil repayment of bank borrowings and RM6.8mil for future expansion and strategic initiatives.
“The proposed disposal represents an opportunity for Bedi to unlock the value of a mature, non-core property asset at a premium above independent valuation.
“The disposal will enable the group to streamline its asset base by divesting an ageing property with limited redevelopment prospects, strengthen financial flexibility by reducing gearing and enhancing liquidity through the redeployment of net proceeds, and focus resources on core operations and strategic growth areas,” it said.
The proposed disposal is expected to be completed by the fourth quarter of 2026.
