Balance disposal consideration has been fully paid by Microsoft to Crescendo on 21 February 2024.

"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."

With the payment of the balance disposal consideration of RM299 million, Crescendo's cash level will increase by RM315.16 million this month.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=230558&name=EA_DS_ATTACHMENTS

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RM315.16 million is 42% of its current market cap of RM751.64 million. 

Are special dividends on the cards for Crescendo?

Looking at its track record, dividend pay-out ratio ranged from 52% to 63%. 

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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?

bursachatgpt

Publish date: Sun, 21 Jan 2024, 04:23 PM

Crescendo (stock code: 6718) saw its net profit for the third quarter ended Oct 31, 2023 rise by 270% to RM17.97 million compared with RM4.86 million a year earlier, underpinned by higher properties sales compounded with high-margin industrial land sale. Quarterly revenue surged by 98.56% to RM101.79 million from RM51.26 million for the previous year.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=226437&name=EA_FR_ATTACHMENTS

In second quarter of 2023, Crescendo launched 100 acres of industrial land for sales in NCIP and was fully sold with total lock-in sales of RM543.19 million. 

In third quarter of 2023, Crescendo launched the balance land bank of approximately 100 acres for sales with a GDV of RM500 million.

What is the total land sales value for 200 acres in NCIP? 

What is the current market cap of Crescendo?

What are the remaining land banks you get for free?

1. Bandar Cemerlang (1,390 acres) - Potential GDV of RM6 billion?

15% of the township was developed with total GDV of RM851 million.

2. Tanjung Senibong: Prime waterfront project within Iskandar Malaysia (221 acres) - Potential GDV of RM4.6 billion?

3. Crescendo Landmark project within JB- Singapore RTS - Total GDV RM900 million 

And more...

https://crescendo.com.my/core-files/uploads/2024/01/CCB_Analyst-Briefing-2024-Q3-31122023.pdf 

Is Crescendo the best deal for 2024?