Crescendo inks disposal of Johor lands for RM111mil

KUALA LUMPUR: Crescendo Corp Bhd's (CCB) wholly-owned subsidiary Panoramic Industrial Development Sdn Bhd (PID) is disposing of nine parcels of freehold vacant land measuring about 82,496.4sqm in Johor to Yu Ao Sdn Bhd for RM111mil cash.

In a filing with Bursa Malaysia, the group said the sales consideration rate of RM125psf will be increased to RM127psf in the event a Tenaga Nasional Bhd power main switching station waiver is obtained on the lands.