Posted by Dehcomic01 > 2023-09-22 12:01 | Report Abuse

Is Crescendo Corp a value trap? Crescendo is Bursa Malaysia property company whose main projects are in Johore. There has been some positive news about the Johore property market. But I am not sure how this is going to translate into the performance of the property developers in the short run.

I bought Crescendo about 9 years ago having valued its EPV then at RM 4.00 per share. The Book Value then was RM 3.25 per share.

The Book Value had not changed very much since then with the 2022 value at RM 3.29 per share. Its share price today is RM 1.38.

Is this a value trap? Over the past 12 years, the Group has generated a positive total gain for the shareholders. This was due to the dividends. The Group has a good dividend track record paying out about 40% of its earnings. I expect this dividend payments to grow in line with the Group’s performance.

Given that my purchased cost is below both the Asset Value and Earnings Power Value, I would continue to hold onto the stocks as I have a positive view of the sector over the long-run.

For more insights into Bursa companies go to “Are these outstanding stocks - what to consider? (Bursa Malaysia)” at my blog.

Posted by ahbah > 2023-09-22 12:12 | Report Abuse

Hidup Johor ! Hidup Crescendo ?

Posted by ahbah > 2023-09-22 12:16 | Report Abuse

Crescendo ... a sleeping beauty, when wake up ... can attract mani suitors ?

Posted by Hew Kiong Peng George > 2023-11-08 06:16 | Report Abuse

Selling 21 acres of land can pocket 108m, imagine its gt 2578 acres lands in johor, how much value in this co? Wuhoo

Posted by ks55 > 2023-11-10 20:54 | Report Abuse

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.

Posted by ks55 > 2023-11-10 20:58 | Report Abuse

https://www.kkd.gov.my/en/public/news/19801-data-centre-boom#:~:text=The%20largest%20data%20centre%20owner,Time%20dotCom)%20and%20Keppel%20Corp.

https://www.datacenterdynamics.com/en/news/stt-gdc-acquires-land-in-johor-malaysia/

Posted by ks55 > 2023-11-17 15:03 | Report Abuse

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

Posted by ks55 > 2023-11-17 15:20 | Report Abuse

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.

Posted by teknikal > 2023-11-17 15:51 | Report Abuse

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

Posted by soon9913 > 2023-11-17 17:07 | Report Abuse

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

Posted by Hew Kiong Peng George > 2023-11-18 06:35 | Report Abuse

Rm2 sure achievable

Posted by Thiago > 2023-11-19 22:40 | Report Abuse

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!!!

Posted by soon9913 > 2023-11-22 09:15 | Report Abuse

https://www.klsescreener.com/v2/news/view/1235237

Posted by soon9913 > 2023-11-22 11:48 | Report Abuse

is there any dividend policy for this counter?

Posted by Jack Khan > 2023-11-23 11:51 | Report Abuse

this is a divident counter

Posted by soon9913 > 2023-11-23 14:05 | Report Abuse

if there is div policy can expect huge div payout soon

Posted by yilonma > 2023-11-24 10:31 | Report Abuse

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

Posted by Chionh > 2023-12-02 15:02 | Report Abuse

人称老人股.
现在看上去像是遗珠股😊

Posted by ks55 > 2023-12-12 15:02 | Report Abuse

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.

Posted by soon9913 > 2023-12-12 15:57 | Report Abuse

just buy and hold only ...

Posted by ks55 > 2023-12-22 16:51 | Report Abuse

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.

Posted by ks55 > 2023-12-29 00:07 | Report Abuse

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."

Posted by ks55 > 2023-12-29 00:11 | Report Abuse

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."

Posted by ks55 > 2023-12-29 10:53 | Report Abuse

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.

Posted by mf > 2024-01-02 16:41 | Report Abuse

take profit

Posted by soon9913 > 2024-01-02 17:26 | Report Abuse

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?

Posted by soon9913 > 2024-01-02 17:28 | Report Abuse

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

Posted by ks55 > 2024-01-03 10:41 | Report Abuse

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

Posted by Cakes Moon > 2024-01-08 13:05 | Report Abuse

Buy!!!

Posted by klee > 2024-01-09 11:24 | Report Abuse

Hoot9e

Posted by soon9913 > 2024-01-09 14:42 | Report Abuse

RM3 soon

Posted by JackTan1217 > 2024-01-11 07:17 | Report Abuse

Will announce Bonus issue shortly

Posted by JJFinn > 2024-01-11 07:26 | Report Abuse

Really ?

Posted by soon9913 > 2024-01-12 12:24 | Report Abuse

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

Posted by soon9913 > 2024-01-12 12:28 | Report Abuse

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!

Posted by soon9913 > 2024-01-12 12:28 | Report Abuse

https://www.malaymail.com/news/malaysia/2024/01/11/anthony-loke-putrajaya-confident-rts-link-will-start-on-january-1-2027/111824

Posted by soon9913 > 2024-01-12 12:29 | Report Abuse

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.

Posted by soon9913 > 2024-01-12 12:31 | Report Abuse

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

Posted by ks55 > 2024-01-12 15:41 | Report Abuse

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.

Posted by ks55 > 2024-01-12 15:47 | Report Abuse

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

Posted by soon9913 > 2024-01-13 19:40 | Report Abuse

thanks ks 55

Posted by soon9913 > 2024-01-14 14:35 | Report Abuse

https://www.foodiesg.com/archives/67247?fbclid=IwAR23_CjwqECjEM6OgJpfrf1wrLAZ5t-phibbcS3IiLWG25Ovh_EXAD3F7XI

new project gonna launched by the company should be HOT selling

Posted by ks55 > 2024-01-18 19:21 | Report Abuse

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

Posted by ks55 > 2024-01-18 19:29 | Report Abuse

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

Posted by Goldberg > 2024-01-22 10:33 | Report Abuse

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?

Posted by ks55 > 2024-01-22 12:17 | Report Abuse

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.

Posted by wallstreetrookieNEW > 2024-01-22 14:42 | Report Abuse

Good analysis from Goldberg ex-auditor/accountant

Posted by Cakes Moon > 2024-01-24 17:06 | Report Abuse

OMG!!!
> RM9

Posted by KiasiPu > 2024-02-04 20:32 | Report Abuse

Tomorrow EGM, anyone will go?

Posted by ks55 > 2024-02-05 18:35 | Report Abuse

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.