KUALA LUMPUR: Crescendo Corporation Bhd
’s wholly-owned subsidiary, Crescendo Development Sdn Bhd (CDSB) is disposing of industrial land in Bandar Cemerlang Industrial Park, Kota Tinggi, Johor, for RM263.2mil cash, or RM115 per sq ft.
In a filing with Bursa Malaysia, Crescendo said the land measures 52.54 acres, is freehold, and categorised for industrial use.
CDSB signed a conditional sale and purchase agreement (SPA) with MSFusion Sdn Bhd on Aug 29, 2025.
Crescendo said the group is expected to record an after-tax gain of about RM109.03mil once the SPA becomes unconditional.
It added that the disposal proceeds will be used to develop the group’s remaining landbank and to provide working capital for CCB and CDSB.
The said land was acquired on June 26, 2001, at a total investment cost of about RM12.26mil as of Jan 31, 2025, including the original acquisition price as well as development and finance costs capitalised up to that date.
