Share
PETALING JAYA (June 19): Crescendo Corp Bhd's proposed RM200.88 million disposal of vacant industrial land in Kota Tinggi, Johor has been extended for a further month after the vendor and purchaser signed an addendum to their sale and purchase agreement (SPA) yesterday.
It said in a Bursa filing that the SPA's extended conditional period now expires on July 13, giving Crescendo Development Sdn Bhd additional time to fulfil the sole outstanding condition precedent, namely a letter of undertaking and indemnity to Tenaga Nasional Bhd for the handover of land identified in the layout plan for the construction of a Pencawang Masuk Utama to serve the subject property.
The buyer, Pioneer Real Estate Development Sdn Bhd, and seller, Crescendo Development Sdn Bhd — a wholly-owned subsidiary of Crescendo Corp — have been working to close the transaction since at least January 2026, when a circular to shareholders was issued on the disposal.
The TNB-related utility requirement underscores how power infrastructure undertakings have become a key gating item in larger Johor industrial land deals, as demand for serviced industrial parcels rises alongside manufacturing and data centre investment in the state.
..........
Read about emerging trends, data-backed insights, growing subsectors, and expert commentaries in EdgeProp print. Subscribe now for your free copy!
