CRESCENDO CORPORATION BHD

KLSE (MYR): CRESNDO (6718)

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Last Price

2.58

Today's Change

+0.07 (2.79%)

Day's Change

2.50 - 2.58

Trading Volume

195,600

Overview

Market Cap

724 Million

NOSH

280 Million

Avg Volume (4 weeks)

153,505

4 Weeks Range

2.48 - 2.78

4 Weeks Price Volatility (%)

33.33%

52 Weeks Range

1.08 - 2.95

52 Weeks Price Volatility (%)

80.21%

Previous Close

2.58

Open

2.50

Bid

2.55 x 1,000

Ask

2.58 x 18,400

Day's Range

2.50 - 2.58

Trading Volume

195,600

Financial Highlight

Latest Quarter | Ann. Date

31-Oct-2023 [#3] | 28-Dec-2023

Next QR | Est. Ann. Date

31-Jan-2024 | 30-Mar-2024

T4Q P/E | EY

22.74 | 4.40%

T4Q DY | Payout %

0.77% | 17.56%

T4Q NAPS | P/NAPS

3.42 | 0.76

T4Q NP Margin | ROE

12.28% | 3.32%

Market Buzz
Company Profile

Sector: PROPERTY

Sector: PROPERTY

Subsector: PROPERTY

Subsector: PROPERTY

Description:

Crescendo Corp Bhd through its subsidiaries is engaged in the development of industrial, residential and commercial properties and letting of undeveloped and unsold properties; and building construction among others. The group comprises the main business segments: Property development and construction; Manufacturing and trading; Property investment; and Education, management services and others. The company operates only in Malaysia.

Discussions
2 people like this. Showing 50 of 254 comments

ks55

Crescendo selling the land to STT GDC, a Temasek subsidiary operating data centres worldwide for 120 ringgit per sq ft. Johor is fast becoming Data Centre for Asia Pacific Region, capitalized on close proximity to Singapore. Since Singapore has stopped any further Data Centre development due to high power consumption, high water consumption, expensive land cost, and high labour cost, it is very logical for foreign companies to set up Hyperscale Data Centres in Johor. Can expect more land sales to new comers especially from China, US, Germany, Japan and South Korea.

2023-11-10 20:54

ks55

Within Nov 2023, Crescendo disposed about 100 acres of industrial land in Nusa Cemerlang Industrial Park to 3 parties for more than 500 million at rm120, and rm125 per sq ft. These lands are for Data Centres to suppliment 2 existing Data Centres across the road in Ascendas High Tech Park. Expect to announce special dividend not less than 30 sen when deal concluded.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3400218

2023-11-17 15:03

ks55

Nusa Cemerlang Industrial Park still has 193 acres of land undeveloped as per 2023 Annual Report, with book value rm138 million. Now selling 100 acres, still has 93 acres remaining.

2023-11-17 15:20

teknikal

The announcement on the usage of proceeds did not specify dividend payment. This is Cinapek company doubt they will pay big dividend.

2023-11-17 15:51

soon9913

they will use the money to repay borrowing and buying new lands

2023-11-17 17:07

Hew Kiong Peng George

Rm2 sure achievable

2023-11-18 06:35

Thiago

RM540 mil worth of land disposal and market cap only RM450 mil!!! hahahaha this is so crazy undervalue company!!! Expect big dividend when land sale is completed in the 2nd Quarter of next year. Family own 70% sure pay big big wan!!!

2023-11-19 22:40

soon9913

is there any dividend policy for this counter?

2023-11-22 11:48

Jack Khan

this is a divident counter

2023-11-23 11:51

soon9913

if there is div policy can expect huge div payout soon

2023-11-23 14:05

yilonma

70% owned by internal shareholder, quite high chance to issue out special dividend to cash out from such a big sale. After paying out their long term debts of RM220m+ & reinvestment into new lands, still got plenty of cash leftover

2023-11-24 10:31

Chionh

人称老人股.
现在看上去像是遗珠股😊

2023-12-02 15:02

ks55

Ambok estate (794 acres) takes only 20 minutes drive to Pengerang. All highways now. Syiok sekali. Crescendo worth rm 9 per share based on SOP.

2 months ago

soon9913

just buy and hold only ...

2 months ago

ks55

3 LRTs radiate out from RTS is highly possible. One to the JB West through Skudai, one to JB North towards Kota Tinggi may end near Impian Hills, one to JB East passes through Mid Valley South Key to end at Pasir Gudang Port. All residential properties along these 3 routes will shoot up in price, as residents can stay in JB but to earn Sing dollar. Of course, nearer to RTS housing price will be much higher. You pay for convenience mah.

2 months ago

ks55

Crescendo plan to sell further 100 acres of industrial land at Nusa Cemerlang Industrial Park for rm 500 million. If it is for more Data Centres, then the selling price should be even higher than rm 540 million.

" In the second quarter of this financial year, the Group launched about 100 acres of industrial land for sales in Nusa Cemerlang Industrial Park ("NCIP") and it was fully sold through several conditional sale and purchase agreement ("SPA") with a total lock-in sales of RM543 million as disclosed in Note A10. The Group has further launched the balance landbank at NCIP of approximately 100 acres for sales with a GDV of around RM500 million. The Group also intends to commence the main infrastructure work of the industrial park at Bandar Cemerlang in FY2025 as we plan to launch the first phase for sales within the next three years."

2 months ago

ks55

What can you expect from the following?

"The Board also expects the Group to perform well in FY2025 as the conditional
SPAs for the land sales in NCIP mentioned above will result in an estimated gain after taxation of
approximately RM310 million upon their completion in FY2025."

2 months ago

ks55

It is the best to sell to a single investor for Data Centre like YTLP's collaboration with Nvidia. Satu kaligus membangunkan Nusajaya sebagai Data Centre for Malaysia.

2 months ago

mf

take profit

1 month ago

soon9913

rm5++m for sales of land, remaining 100acres also wan to selling at rm500m.. sell 200 acres can get back more than RM1b ady, what is the current market cap?

1 month ago

soon9913

what is the value for 2400 acres land leftover and some other assets?

1 month ago

ks55

Crescendo is always a safe investment for retirement planning. Get 500k Crescendo will be good enough for average retiree to live a comfortable life.

1 month ago

Cakes Moon

Buy!!!

1 month ago

klee

Hoot9e

1 month ago

soon9913

RM3 soon

1 month ago

JackTan1217

Will announce Bonus issue shortly

1 month ago

JJFinn

Really ?

1 month ago

soon9913

sell 200 acres of their total land bank 2400 acress ady worth more than RM1billion. what is the current market value of this counter ? bal 2200 acres prime land and other assets are free

1 month ago

soon9913

dun be surprise if the share price surpass rm4.. it is one of the most undervalue counter.. they will be launching project near RTS johor later this year and completion timing will be just nice matching to RTS provisioning date on 1.1.2027!

1 month ago

soon9913

surrounding RTS link not much prime land ady. i guess this counter project will be high density and not cheap, but will be good demand also. Singaporean can buy also.

1 month ago

soon9913

inmagine 6 mins from RTS link to SG lo. will you prefer stay near by ? surrounding pricing index reduced by 3.5 times if stay there. earn SGD spend there, convenient also to SG no need traffic jam

1 month ago

ks55

One of the three LRTs radiate out from JB Sentral (RTS terminal) will proceed all the way to Impian Hills, passing through Bandar Cemerlang, and has a station at Tebrau City.

Bandar Cemerlang comprises of 800 acres of residential/ commercial development, and 526 acres of industrial park to be launched by 2025. With LRT line planned to pass through Bandar Cemerlang, what is the least you can expect for Crescendo share price? Not to forget 100 acres industrial land already sold for 540 million, and another 100 acres set to sell not less than 500 million.

All in all, sum of parts (SOP) for Crescendo can never be less than 9 ringgit per share.

1 month ago

ks55

Based on SOP, Crescendo worth at least 9 ringgit. Buy it and be part of your retirement planning.

1 month ago

soon9913

thanks ks 55

1 month ago

ks55

This is call efficiency. Conditional S&P signed on 17 Nov 2023, EGM on 5 Feb 2024, circular out 18 Jan 2024. Expected date of completion before 30 Sept 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3415625

1 month ago

ks55

Information on the Purchaser

As at the 10 November 2023, being the latest practicable date of this announcement
(“LPD”), MPSB has a total issued share capital of RM100,000 comprising of 100,000
ordinary shares. MPSB is a wholly-owned subsidiary of Microsoft Ireland Operations
Limited. MPSB is principally engaged in the business of provision of datacentre
services.


UTILISATION OF PROCEEDS includes Funding of ongoing projects:

The proceeds are intended to be used to partially fund the infrastructure and construction cost of the Group’s development project, namely Bandar Cemerlang project.
Bandar Cemerlang consists of 1,390 acres of gross development land near Ulu Tiram which will be
developed over a period of 15 to 20 years into 864 acres of self-contained new township with residential and/or commercial developments and a 526-acre industrial park. It is approximately a 30-minute drive from Johor Bahru City Centre via Tebrau highway & Eastern Dispersal Link

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=142162&name=EA_GA_ATTACHMENTS

1 month ago

Goldberg

Net assets per share of Rm 9.0 upon revaluation.

As majority of the lands have not been revalued for years, and if we assume a net gain of RM600m from the remaining 202 acres of industrial land in Nusa Cemerlang Industrial Park and a RM1b revaluation surplus for its remaining landbank and properties, this will bump up its net asset per share to RM9, versus its current share price of below RM2.80 per share.

The market typically applies a discount on RNAV of property stocks, which could range from 50% to 80%, depending on management quality, dividend yield, earnings and growth potential.

During the Iskandar Malaysia rush 10 years ago, Crescendo's share price surged to RM3.80. I believe we have even more real and sustainable catalysts now to support further appreciation of land prices in Iskandar Malaysia, including the RTS and data centers.

Johor is a rising star in the data center landscape, and CRESCENDO is well-positioned to capitalise on this growth. Coupled with the company's undervalued landholdings, partial recurring incomes, and decent dividend history, do these factors make CRESCENDO an attractive stock for investors seeking exposure to growing data center industry in Johor and RTS Link, the potential game-changer for property market in Johor Bahru?

1 month ago

ks55

Blog: Crescendo - Profit jumps 270% in third quarter. Launching a further RM500 million land for sale after clinching RM543 million sales in just 10 days. Best deal for 2024?

Jan 21, 2024 5:26 PM | Report Abuse

Intrinsic value per share for Crescendo is not less than 9 ringgit, taking into consideration quality and credibility of its Directors, steady earning potential for next few years, healthy financial status and strong cash flow, very solid background of its major shareholders (no pledged securities/ nominee holders), recently land disposal, intended further land disposal, development lands were purchased more than 20 years and the location of these land bank.

Looking forward to rm 6 in near future.

1 month ago

wallstreetrookieNEW

Good analysis from Goldberg ex-auditor/accountant

1 month ago

Cakes Moon

OMG!!!
> RM9

1 month ago

KiasiPu

Tomorrow EGM, anyone will go?

3 weeks ago

ks55

On behalf of the Board, UOBKH wishes to announce that the Conditions Precedent set out in the SPA have been duly fulfilled. Accordingly, the SPA has become unconditional in accordance with its terms and conditions on 5 February 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3419871

Now can just wait for durian runtuh.

3 weeks ago

moven00

Calculate all you want… NTA la, book value la… etc.
Crescendo for me is too expensive. Show me the money? With DY below 1% it also indicate this counter have run up a lot and not worth to look more at this level.
Besides, shareholders will have to pray the management give you special dividend. You’re at their mercy.
It was laggard for so long around 1.14+. Entering now is a suicide… you’ll ended up holding it for another 5-10years. Don’t be blinded by the hype of Datacentre and HSR. That will itself takes time… not immediate.

2 weeks ago

ks55

RM 315 million already paid by Microsoft within 3 months after signing S&P. This is called efficiency and professionalism. Can expect share price to shoot up tomorrow.........

"On behalf of the Board, UOBKH wishes to announce that the Balance Disposal Consideration has been fully paid by the Purchaser to the Purchaser’s solicitors on 21 February 2024. Pursuant thereto, the Completion Date as defined under the SPA has taken place on 21 February 2024."

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3422893

1 week ago

Michael Kwok

Sell call crescendo 2.68
Nta 3.43
24/2/24 9.48am

6 days ago

Goldberg

CRESENDO in a sweet spot to capitalise on DC Mania In Johor due to its massive land bank.

Johor is a rising star in the data center landscape, and CRESCENDO is well-positioned to capitalise on this growth. Coupled with the company's undervalued landholdings, partial recurring incomes, and decent dividend history.

These factors make CRESCENDO an attractive stock for investors seeking exposure to growing data center industry in Johor and RTS Link, the potential game-changer for property market in Johor Bahru.

Net assets per share of Rm 9.0 upon revaluation.

As majority of the lands have not been revalued for years, and if we assume a net gain of RM600m from the remaining 202 acres of industrial land in Nusa Cemerlang Industrial Park and a RM1b revaluation surplus for its remaining landbank and properties, this will bump up its net asset per share to RM9, versus its current share price of RM2.68 per share.

6 days ago

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