Microsoft Payments (Malaysia) Sdn Bhd and Panoramic Industrial Development Sdn Bhd, a wholly owned subsidiary of Crescendo Corporation Bhd (CCB), have reached a conditional sale and purchase agreement for the disposal of 9.12 hectares in Johor Bahru valued at RM119.83 million.
The land is located in the Nusa Cemerlang Industrial Park. The deal is expected to be completed by the second quarter of 2027.
Crescendo previously sold land in Johor for data centre development to STT GDC, Damac’s Edgnex, Digital Halo, and Yu Ao Sdn Bhd.
Crescendo previously sold land in Pulai to Microsoft Payments in April 2024, selling a 102,560 sqm (1.1 million sq ft) plot for RM132.5 ($27.9 million).
Microsoft Payments announced plans to establish a Malaysian Azure cloud region in Kuala Lumpur in 2021; the region is still listed as “coming soon” on the company’s website.
According to a filing with Bursa Malaysia, the disposal is expected to be completed in the second quarter of 2027.
It stated that the disposal will generate cash flows for the CCB Group’s development projects while also unlocking the value of the land at a reasonable price after considering its marketability and prospects.
It went on to say that because the disposal does not involve the issuance of CCB shares, it will have no effect on the issued and paid-up share capital or the shareholdings of CCB’s substantial shareholders.
 Sdn Bhd and Panoramic Industrial Development Sdn Bhd, a wholly owned subsidiary of Crescendo Corporation Bhd (CCB), have reached a conditional sale and purchase agreement for the disposal of 9.12 hectares in Johor Bahru valued at RM119.83 million.){kind=link}