KUALA LUMPUR (April 4): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Johor-based property developer Crescendo Corp Bhd said its wholly-owned subsidiary, Panoramic Industrial Development Sdn Bhd (PID) has entered into a conditional sale and purchase agreement with Microsoft Payments (Malaysia) Sdn Bhd for the sale of a vacant parcenl of freehold land measuring 1.1 million sq ft in Pulai, Johor, for RM132.47 million, or RM120 per sq ft. This transaction follows Crescendo's prior disposal of three vacant pieces of land measuring 2.62 million sq ft in the vicinity to Microsoft Payments for RM315.17 million, cash, last November. Crescendo intends to utilise the net cash proceeds of RM127.7 million for debt repayment, working capital and related exercise expenses. — Crescendo disposes of another Johor land to Microsoft Payments for RM132.47 mil

MN Holdings Bhd (MNHB) has secured a contract valued at RM25.96 million for engineering, procurement, construction and commissioning work for a large-scale solar photovoltaic plant in Kulim, Kedah. The contract was awarded to its wholly-owned subsidiary, MN Power Transmission Sdn Bhd, by Samaiden Sdn Bhd, a subsidiary of Samaiden Group Bhd. It involves establishing new step-up station interconnection facilities for the solar substation and extending 132kV interconnection facilities at the existing 132kV NUR power station for NUR Renewables Sdn Bhd. The contract is scheduled to last 11 months, commencing on April 1. — MN Holdings secures RM26 mil solar plant substation job from Samaiden

Axiata Group Bhd, Malaysia's largest wireless carrier by revenue, announced on Thursday its plan to sell its Myanmar tower business for US$150 million, approximately RM713 million, as part of its exit strategy from the Southeast Asian country. Axiata's subsidiary, edotco Group Sdn Bhd, will sell its entire 87.5% stake in edotco Investments Singapore Pte Ltd, which serves as the investment holding company for its Myanmar ventures. The decision to divest was attributed to the worsening macroeconomic and operating conditions in Myanmar. However, the buyer of Axiata's Myanmar business was not disclosed. — Axiata's edotco to sell Myanmar tower business for RM713m

Sapura Energy Bhd has secured a contract to provide pan-Malaysia underwater services for the Petronas group of companies and petroleum arrangement contractors. The contract, awarded by Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd to its subsidiary Sapura Subsea Services Sdn Bhd, is a call-out contract with agreed unit rates. Although the contract value was not disclosed, it is valid for five years from Jan 31, 2024. The scope of work includes providing diving support vessels, air and saturation diving systems, remotely operated vehicles and other underwater services. — Sapura Energy wins contract from Shell to provide underwater services for Petronas group