MEDIA CHINESE Sells Canadian Property for CAD9.90 Million

Bulletin Express

Mar 31

Media Chinese International Limited (MEDIA CHINESE) has agreed to dispose of a Canadian property for CAD9.90 million (approximately US$7.15 million or RM28.65 million).

The consideration was finalised after the listing price was reduced from CAD11.80 million in October 2025 to CAD9.90 million in March 2026, a move the company attributes to the cessation of its Canadian media operations and broader geopolitical uncertainties. Multiple offers were received at the revised price, with the final figure reached through arm’s-length negotiations.

No third-party valuation was undertaken for the asset. According to the latest audited accounts (31 March 2025), the property carried a net book value of CAD1.11 million (US$0.80 million or RM3.21 million) and was free of encumbrances.

The transaction is classified as a non-related-party transaction under Chapter 10 of Bursa Malaysia’s Listing Requirements. MEDIA CHINESE has not disclosed further details on the asset or the deployment of proceeds.

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