PETALING JAYA: Bedi Bhd is acquiring the entire equity interest in Sejati Sentral (Sandakan) Sdn Bhd and FYT Land (KK) Sdn Bhd from Bedi Development Sdn Bhd (BDSB) for RM38.82mil.
In a filing with Bursa Malaysia, Bedi said Sejati Sentral is principally involved in property development and it is the landowner and developer of a commercial property development project in Sandakan, Sabah, namely Sejati Sentral.
Additionally, it said FYT Land is principally engaged in property development and is the landowner and developer of residential property development projects in Kota Kinabalu, Sabah, namely Bayu Damai Residences and Luna Damai Residences.
Bedi said the related party transactions are expected to complement and strengthen the group’s development pipeline by providing immediate access to two on-going property development projects in Sabah, namely the Sejati Project in Sandakan and the FYT projects in Kota Kinabalu.
“The projects, comprising commercial and residential developments, are consistent with the group’s existing focus on the residential and commercial property segments and are expected to allow the group to scale up its active development pipeline.”
