BEDI to Dispose RM85 Million Hypermarket Building to Mydin, Books RM22.1 Million Pro Forma Gain
PETALING JAYA — BEDI Berhad, formerly known as WMG Holdings Bhd., has proposed to dispose of a two-storey hypermarket building in Sandakan, Sabah to Mydin Wholesale Cash and Carry Sdn. Bhd. for RM85 million, in a move aimed at strengthening its balance sheet and optimizing its asset portfolio.
In a filing with Bursa Malaysia, the group said the property, located at Lot 3A, Sejati Commercial, is owned by Asterasia Sdn. Bhd., an indirect wholly-owned subsidiary.
The building currently houses a Mydin hypermarket and is subject to a 20-year lease agreement commencing May 24, 2019, providing tenancy stability prior to the disposal.
Sale Price at Market-Based Negotiation
The RM85 million disposal price was determined on a willing-buyer willing-seller basis following commercial negotiations between both parties.
The agreed consideration represents a discount of approximately 6.59 per cent to the independently appraised market value of RM91 million.
Despite the discount, BEDI expects to record a pro forma net gain of about RM22.10 million from the transaction, reflecting value crystallization from a matured income-generating asset.
Debt Reduction and Capital Reallocation
From the proceeds, approximately RM35.11 million will be used to fully settle a term financing facility with OCBC Al-Amin Bank Berhad.
The repayment is expected to lower the group’s gearing level and improve its financial flexibility.
The remaining proceeds will be allocated toward working capital requirements and future property development initiatives, particularly within Borneo, which management views as a strategic growth corridor.
Portfolio Optimization Strategy
The proposed disposal forms part of BEDI’s broader asset rationalization strategy, where stabilized assets are monetized to unlock capital for higher-return projects.
By divesting a mature, leased property, the company is effectively recycling capital while strengthening its financial metrics.
Completion of the transaction is targeted for the first half of 2026, subject to the terms of the sale and purchase agreement and regulatory approvals.
For investors, the move signals disciplined capital management and a strategic shift toward enhancing long-term asset productivity and shareholder value.
-wilayah.com.my
