KUALA LUMPUR: Beshom Holdings Bhd
said its wholly-owned subsidiary Hai-O Enterprise Bhd has proposed to dispose of three plots of freehold industrial land measuring an aggregate of 58,994 sqm to JT Development Sdn Bhd in Klang, Selangor, for RM85.8mil.
In a filing with Bursa Malaysia, the group said the properties were part of a 12.04ha master land acquired by Hai-O on May 15, 2008, for a total investment cost of RM27.06mil.
After deducting the net book value of RM26.08mil of the land, expenses and real property gains tax, the disposal is expected to result in a net pro forma gain of RM52.78mil.
The group said a part of the proceeds of the sale will go towards expanding its retail store and refurbishing its existing stores. It will also go towards product development and supply chain sourcing, members' development programmes, IT system upgrades and subscriptions and financial investments.
The proposed disposal is expected to be completed in the first quarter of 2027.
