Crescendo extends land sale deadline as TNB utility condition remains unresolved

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.

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