Bedi buys 8.7-acre land in Sabah for future projects

KUALA LUMPUR (March 5): Property developer Bedi Bhd (KL:BEDI), which was known as WMG Holdings Bhd up until September 2025, is buying an 8.7-acre parcel of land in Penampang, Sabah, for RM15.92 million.

The acquisition is part of its strategy to secure strategic locations for future mixed-development projects, Bedi said in a bourse filing on Wednesday. The plot is located within the Bukit Padang locality.

A sale and purchase agreement has been inked between its unit, Wah Mie Realty Sdn Bhd, and the vendors—Lee Fui Chen, Lee Vun Yeng, Lee Vun Yee, Lee Tien Rui and Lee Sheng Chieh—for the deal. The land forms part of a greater 15.99-acre parcel. The vendors have agreed to subdivide the parcel into two lots, with the 8.7-acre portion to be sold to Bedi’s unit.

The price tag values the land at RM42 per sq ft. The purchase, expected to be completed in the second quarter, will be funded by internal funds and bank borrowings.

Bedi, which was loss-making for almost a decade, finally turned black after a change in financial year end to end-March in 2024, which gave rise to a net profit of RM24.5 million for the 15 months ended March 31, 2025 (FY2025), on a revenue of RM181.11 million.

As at end-December last year, it had RM66.44 million cash and RM102.28 million in total borrowings.

Shares in Bedi ended half a sen or 1.22% higher at 41.5 sen, valuing the company at RM355.58 million.

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