PETALING JAYA: Crescendo Corp Bhd
is disposing of 22.548 acres of freehold agricultural land in Johor Baru to Microsoft Payments (Malaysia) Sdn Bhd for RM119.83mil.
In a filing with Bursa Malaysia, Crescendo said the sale would help unlock the land’s value at a reasonable price, considering its marketability, prospects and the challenges in negotiating terms with a credible buyer capable of completing the transaction swiftly.
The company said the proceeds from the sale would also be used to fund its development projects and provide working capital for its remaining landbank.
“Barring any unforeseen circumstances, the disposal is expected to be completed by the second quarter of 2027,” it said.
