Crescendo sells Johor land for RM111mil

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

In a filing with Bursa Malaysia, the group said the sales consideration rate of RM125 per sq ft will be increased to RM127 per sq ft in the event a Tenaga Nasional Bhd power main switching station waiver is obtained on the land.