KUALA LUMPUR (Dec 19): Property developer Crescendo Corp Bhd is buying a piece of land in Johor Bahru for RM13 million to develop apartments for rent by Crescendo International College students. 

Crescendo’s wholly-owned unit Crescendo Education Sdn Bhd owns a 55% stake in Crescendo International College.  

The group, via Crescendo Education, is buying the land from Panoramic Housing Development Sdn Bhd, a related party.

“The acquisition is expected to support and strengthen the group’s position in the education business,” Crescendo said in a filling with Bursa Malaysia. 

“It is expected to contribute and supplement the long-term profitability of the core business activities of the Group, which are in property development and building construction,” the group added. 

Share price of Crescendo fell one sen or 0.83% to close at RM1.19 yesterday, valuing the group at RM333.75 million. — theedgemarkets.com

Click here for more property stories.

SHARE
SPONSORED CONTENT
Alora Residences, Avenue25—Forest-inspired integrated development in the heart of Subang Jaya

With a 300m covered walkway to an LRT station, premier amenities nearby, and a wealth of lifestyle facilities, this address delivers the essence of modern living.

read more
RELATED POSTS
  1. Crescendo sells another piece of land in Johor for RM201m, offers buyer option for second plot at RM249m
  2. Crescendo to develop properties that meet market demand after sharp fall in 2Q profit
  3. Crescendo disposing of industrial land in Kota Tinggi for a gain of RM109m