CRESCENDO CORPORATION BHD

KLSE (MYR): CRESNDO (6718)

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Last Price

3.63

Today's Change

+0.01 (0.28%)

Day's Change

3.60 - 3.68

Trading Volume

265,900

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Discussions
2 people like this. Showing 50 of 480 comments

ks55

Hopefully remaining 75 acres can sell at rm 150 psf to more DC operators within next few months.

1 month ago

ks55

Aiming at 4 ringgit tomorrow. 6 ringgit is achievable premised on intrinsic value of 9 ringgit.

1 month ago

DaveInvest

@troy88 @newuser999

I might be very wrong, but my opinion is… maybe correction period is forcefully ended by someone playing the market to dump again, likely the same group of ppl that tries to jack up the price when it’s very low but not very successful at it, as the market is inactive, then waited for this “share buy back” thing and do it again at larger scale.
For seasoned investor they will know this is an annual thing that companies usually do, I checked the track record, past few year no record of buyback.

Since QR is about 1.5 months away, there might be gradual increase in price, but not this much in one go unless it is purposely done, anyway looking at how it is, might be unlikely it will go back to 3.3x , might steadily go down and stabilize at around 3.45-3.55 perhaps? Can only speculate

I do agree with company worth much more than this, but at the same time this hike is not very usual for this counter without stimuli,
The resistant price prediction is spot on I tink, pretty good guess, need time to go there I guess.

As usual, my opinion is, hitch the ride if u can, but don’t be hot headed, becareful.

1 month ago

ks55

Today will have a long green. Aiming for rm 4.00 by end of the day.

1 month ago

DaveInvest

@ks55

I hope it will happen, then I will make a huge earning, but you seems a little too too positive as always? For whatever reason there is 😬 as we speaking, it went up then come back down , from green to yellow 🤐

1 month ago

calvintaneng

Microsoft bought lands from Crescendo to build Data Center

DATA CENTERS Are For STORAGE Of DATA. And That Is Why Lots Of HDD From JCY, NOTION & DUFU Will Be Needed.


https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-05-15-story-h-161671538-DATA_CENTERS_Are_For_STORAGE_Of_DATA_And_That_Is_Why_Lots_Of_HDD_From_J

1 month ago

ks55

Posted by ks55 > Apr 19, 2024 11:22 PM | Report Abuse X

First TOD by Crescendo going to take place in second half of this year. Land acquisition completed for 72 million.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3436523

The Group plans to launch 1,200 units of serviced apartments which are located within the vicinity of the RTS terminal at Bukit Chagar with a total GDV of approximately RM1 billion in second half of FY2025.

Taking 30% gross pretax profit, that is rm 300 million. So cost of development inclusive of land is rm 700 million. Land cost is about 10% of capital outlay is very very low. Normally for high rise, it should be 15 to 20% of the development cost.

Construction cost is between 50% to 60% of development cost, i.e. 350 million to 420 million. Since KimLun has the expertise to build high rise, and it has worked well with Crescendo before, there is good chance KimLun can get get this job by end of June.

=================================

How much profit do you think this project can bring in ?

1 month ago

DaveInvest

Yes, definitely good profit from the project, I tink goverment is trying to curb the speculation of price hike around property projects surrounding the MOU with SG, not sure will they be successful or not.

Anyway it’s in the red now, 3.58 and dropping, not all green, the party that did the pushing ran out of strength maybe 😉

1 month ago

ks55

ks55 Paramount shows a steady upward trend. Wait till Q1 result with 6 sen profit, then those IBs will start to make coverage. They won't take the initiative but just to make 'report' on what already happened.

https://klse1.i3investor.com/servlets/stk/chart/1724.jsp

1 month ago

newuser999

Today most of the funds have flown to gloves and technology counters as a result of US tariff hike on China products. Utilities counters remain strong due to YTLPOWR

1 month ago

DaveInvest

@newuser999

Yea, I missed the top glove boat , saw the recovery of it and it was advised by analysts to buy as well, but I was worried , especially after the bad post covid track record 😮‍💨
Anyway it should recover and remain strong , the physical sales should be good, as those that stock up the gloves before, either depleted their stock or the current stock is expiring.

1 month ago

newuser999

@ DaveInvest

US Tariff hike on China's glove product will be only imposed in year 2026. I would say market has over-reacted. You can look into technology stocks since US tariff hike will be affecting China's semicon in year 2025.

1 month ago

newuser999

Honestly, I am speechless to Anwar's visit with Hamas leaders in Qatar. He seems naive to Do and Don't.

1 month ago

DaveInvest

@newuser999

Yep, that is why although previously many glove company showing signs of recovery, I’m not going in, especially after the previous balloon pop 😬 although I’m not affected but it looks really miserable. I mainly focus on JB property , utility resolves around renewable energy, and semi con as u suggested

1 month ago

DaveInvest

Sometimes I wonder does some of the small investor know that the land disposal sale announcement dated on 14/5/24 is referring to previous sale and it’s NOT a new sale or not 🤔
And share buy back is a routine done yearly and the company never buy back any share for past many years.

Then maybe some players take this time to push up the price , then dump🤔


1 month ago

newuser999

@Daveinvest

You'd spoken my words, 😂
"Sometimes I wonder does some of the small investor know that the land disposal sale announcement dated on 14/5/24 is referring to previous sale and it’s NOT a new sale or not 🤔"

1 month ago

newuser999

I smell something to the announcement on 10/5/24 - "proposed renewal of authority for share buy-back". The share buyback is up to 10% of the total numbers of issued shares.

The purpose of share buybacks can be as below. 1, 2 & 3 could be the reasons for Crescendo:

1. 【Capital allocation】: Companies may use share buybacks as a way to deploy excess capital. If a company has accumulated cash reserves or has limited investment opportunities, it can repurchase its own shares to return capital to shareholders.

2. 【Enhancing shareholder value】: By reducing the number of outstanding shares, a share buyback can increase EPS and potentially boost the company's stock price. This can benefit existing shareholders by increasing their ownership stake and potentially providing a higher return on their investment.

3. 【Signal of confidence】: Share buybacks can be seen as a signal of confidence from the company's management. When a company repurchases its own shares, it indicates that management believes the shares are undervalued and that buying them back is a good use of capital.

4. 【Offsetting dilution】: Companies often issue new shares as part of employee stock option plans or to raise capital for acquisitions or expansion. Share buybacks can offset the dilution caused by these new share issuances, helping to maintain a stable ownership structure.

5. 【Tax-efficient distribution】: Share buybacks can be a tax-efficient way to return capital to shareholders compared to dividends. In some jurisdictions, capital gains from selling shares may be taxed at a lower rate than dividends, providing potential tax advantages for shareholders.

6. 【Defensive measure】: Share buybacks can be used as a defensive measure to fend off potential hostile takeovers. By reducing the number of shares available in the market, it can make it more difficult for an acquiring company to gain control.

1 month ago

newuser999

This is just my anticipation. Let's see the movement of the management:

Share buybacks can result in treasury shares where Treasury shares can be used for various purposes, including potentially distributing them as dividends / bonus issue to shareholders.

1 month ago

DaveInvest

@newuser999

Yea it might be good if they did the share buy back, larger cake portion for everyone, but I just don’t see the reason why would they do it at this time, especially when the company is in good direction, I mean they can, but they don’t have to, so I doubt it could happen, although I wished it to happen lol.

The majority of the shares are already in the hands of the company and related major parties, leaving not much share in the market, correct me if I’m wrong, but maybe not that wise to reduce general market’s share anymore, they are required to maintain minimum 25% general market share

1 month ago

DaveInvest

@newuser999

Look at the curve today again , after the “fake” land sale announcement 😂😂😂

Again it’s happening, same thing all over again when conditional ~> unconditional over same piece of land, just an update and it’s a reference to previous sale, NOT new sale and the market went up up 😬

3 weeks ago

DaveInvest

Price seems like gonna bottoming again, maybe good idea to stock up some 🤔

3 weeks ago

soon9913

buy and keep , dont be surprise end of the year the price is RM7 double from current price!

3 weeks ago

ks55

Posted by ks55 > Apr 4, 2024 6:20 PM | Report Abuse X

Crescendo disposed another 25.3 acres of NCIP to Microsoft for rm 132.5 million or 5.22 million per acre. Looking at the previous transaction, deal will complete by July (less than 4 months).

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3436351


Just within 40 days, everything need to do already done, and we can expect to received payment by end of May. This is called efficiency and professionalism. Give salute to Crescendo management team.

The Board of Directors of CCB 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 13 May 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3447167

=======================

Now on 28 May, the amount rm 132.5 million fully paid by Microsoft. Deal is now completed. Salute to Crescendo Board of Directors and the Management team. We pray shareholders will be duly rewarded in monetary terms.



Reference is made to our announcements dated 4 April 2024 and 14 May 2024 on the subject matter (“the Announcements”). The abbreviation used in this announcement shall have the same meaning as defined in the Announcements.

The Board of Directors of CCB wishes to announce that the Completion Date as defined in the SPA, being the date on which the Balance Purchase Price is fully paid by the Buyer to the Buyer’s Solicitors as stakeholder, is 28 May 2024.

This announcement is dated 28 May 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3451008

3 weeks ago

PureBULL ...

sWanN BlaC 👀, [2024-06-02 3:06 AM]
Nvidia = YTL power
Google = Elmina Simeprop Gamuda
US MnC = SunCon
Microsoft = Crescendo
AWS = Vstec
Brid Data = Southville Mahsing
YonDr = ❓
+++++++++++++++++++++++++
Huge orders forecast to drive building industry | The Star
https://www.thestar.com.my/business/business-news/2024/04/04/huge-orders-forecast-to-drive-building-industry

cost of US$7mil-US$9mil per megawatt to construct a data centre, which could translate into construction works of RM26bil to RM33bil 

PureBULL >>>, [2024-06-02 3:28 AM]
Position well for the BIG wave,

just like BIG glove bull run of TG on
April 2020 = 1st round n
July 2020 = 2nd hyper round:

https://www.tradingview.com/x/LQBtci0e/

2 weeks ago

newuser999

Trendline breakout. Stands above fibo 0.236. Nice move. Could be better with higher volume.

1 week ago

DaveInvest

@newuser999

Yea , past few days from trading volume and amount looks like someone is pushing it up slowly, and maybe that started the engine , today it looks like the trend might continue with higher volume, but it seems like start to losing momentum a little 😧

1 week ago

Goldberg

Based on profits from 3 land sales , Crescendo's Q1 FY25 will make at least rm 335 million PAT or rm 1.15 per share - for the First Quarter FY25. ( announcement due in late June)

I feel the above developments will be a powerful catalyst for Crescendo to surge past RM4.50

Just 2 weeks to go before the Q1 FY25 announcement.

1 week ago

ks55

Crescendo is on upward swing pending Q1 result. Will it give special dividend again? No point keeping too much cash with latest payment received from Microsoft.

All 4 land transactions already completed. Just hope next land sale is coming soon.

1 week ago

ks55

First TOD by Crescendo going to take place in second half of this year. Land acquisition completed on 4 Apr 2024 for 72 million. This piece of land is along Jalan Senyum within walking distance from RTS Terminal. Read more from Analyst Briefing below.

https://crescendo.com.my/core-files/uploads/2024/05/CCB_Analyst-Briefing-2024-Q4_Final.pdf

The Group plans to launch 1,200 units of serviced apartments with a total GDV of approximately RM1 billion in second half of FY2025. This serviced apartment project will consist of two towers of 48 storeys of various sizes.

1 week ago

NickelLee


IWCity (1589.KL) Biggest Laggard In Johor Property Boom

Over the weekend, The Edge Weekly featured a 200-pager Special Edition titled “JOHOR READY FOR THE BIG LEAP”. Johor since the middle of last year had been the hotbed of investment be it property counters and the involvement in Data Centre Theme. Share prices with exposure to Johor were sure hits for these 18 months. The main catalyst is none other than the sheer amount of FDIs pouring into the state. In addition to the big policy moves to formulate and execute business-friendly decisions in spearheading the state’s economic growth.


Quoting Datuk Ho Kay Tat (Publisher & Group CEO of The Edge)

Publisher’s Note [THE STARS MAY FINALLY BE ALIGNED FOR JOHOR]

“In 2006, Malaysia launched the Iskandar development project to try and push things forward for Johor, but progress has not been as good as hoped and one reason is because of the cool response from Singapore.

But this appears to have changed recently, and there is now bullish optimism in the air because of closer government-to-government cooperation that has enabled things to move. The collaborative construction of the Rapid Transit System Link (RTS Link) from Woodlands in Singapore to Bukit Chagar in the heart of Johor Bahru and the creation of the Johor-Singapore Special Economic Zone will be game changers.

Another factor is that Johor’s Sultan Ibrahim is now the King of Malaysia and His Majesty will definitely give an added push to make things happen sooner, rather than later

For Johor, the stars may finally be aligned”



In a RHB Report dated 13 May 2024 Titled [Real Estate - JS-SEZ: The New Chapter of Iskandar Malaysia] mentioned a list of major landowners in Iskandar Malaysia. Further extrapolating from the list, the table below shows the share price performances of these landowners.


Company Name / YTD-Performance

UEM Sunrise +35.7%
Sunway +65.1%
IOI Properties +37.5%
Mah Sing +125.6%
LBS Bina +16.7%
Ecoworld +47.2%
AME Elite +2.4%
KSL +57.3%
Scientex +13.3%
😲IWCity -0.6% 😲
Crescendo +53.1%
YTL Corp +90.1%
MPHB +53.8%

To many investors' surprise, IWCity is the only company that printed a negative return on share price with a meagre -0.6% contraction. The average YTD return for companies with land banks in Iskandar Malaysia Region was +49.8% and even more on a 1-Year measurement.

Surging property prices in Johor as seen from recent transactions with KSL, Paragon Globe, Crescendo and AME Elite are some of the anecdotal evidence that land prices are indeed moving up. Hence, one needs to take a closer look at IWCity as it lags behind its peers by a far margin. Hence, an opportunity for the late comers to catch up with very low downside risks.

https://klse.i3investor.com/web/blog/detail/IWCITY/2024-06-09-story-h-159762931-IWCity_1589_KL_Biggest_Laggard_In_Johor_Property_Boom

1 week ago

DaveInvest

Price seems to dropped by some, but holding in range, I think it might trade in 3.75-3.85 for time being in near future. Not sure why is the hike, maybe either there’s big player doing it, or due to confidence in upcoming housing project + Quarterly report.
Keep watch

1 week ago

DaveInvest

Oh wow 🤩


On behalf of the Board of Directors of CCB, UOB Kay Hian Securities (M) Sdn Bhd is pleased to announce that Panoramic Industrial Development Sdn Bhd, a wholly-owned subsidiary of CCB, had on 11 June 2024, entered into a conditional sale and purchase agreement with Digital Halo Pte Ltd (“Digital Halo” or the “Purchaser”, which the expression includes the nominee as may be appointed by Digital Halo), for the disposal of a vacant industrial land measuring approximately 20.463 acres or 891,368.28 square feet, held under land title no. H.S.(D) 629092 PTD 227197 in the Mukim of Pulai, District of Johor Bahru, State of Johor for a total cash consideration of RM115,877,876.40.

1 week ago

ks55

Crescendo selling another 20 acres for rm 115.8 million, or rm 130 per sq ft to a Singapore DC operator.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3455222

1 week ago

newuser999

More lands selling are coming. Patience is the key and you shall deserve the bigger fruits.

1 week ago

Goldberg

CRESENDO disposes of Johor land for RM116mil

CORPORATE NEWS

Tuesday, 11 Jun 2024

PETALING JAYA: Crescendo Corp Bhd (CCB) is disposing of a 20.463 acre plot of vacant industrial land in Johor Baru, Johor to Digital Halo Pte Ltd for RM115.88mil.

In a filing with Bursa Malaysia, CCB said the proceeds from the land disposal will be for working capital purposes and to fund ongoing projects.

CCB said the vacant land is currently not being used and is not generating any cash flow for the group.

“Moving forward, the group intends to focus its resources on six ongoing development projects and should opportunities arise, take advantage of land banking opportunities and joint ventures in other strategic locations.

“The group will have the flexibility and liquidity to pursue investment opportunities or projects requiring large capital expenditure, whilst strengthening the group’s working capital position.”

https://www.thestar.com.my/business/business-news/2024/06/11/crescendo-disposes-of-johor-land-for-rm116mil

1 week ago

ks55

Every developer that sell land to Data Centre operator makes windfall profit except one. Why YTLP never announce how much it received from Nvidia for the land? What is the size of the land sold? Or is it Nvidia just selling equipment and services in so called collaboration without any capital outlay? Frankly speaking, I don't know.

1 week ago

newuser999

@ks55

The relationship between YTL Power and NVIDIA primarily focuses on technological collaboration rather than a land transaction. YTL Power and NVIDIA are working together to establish an advanced supercomputing platform using NVIDIA's DGX cloud computing technology based on the Grace and Blackwell architectures. Therefore, this relationship involves the purchase and use of NVIDIA's Blackwell technology for building the computing platform, NOT the sale of land.

1 week ago

newuser999

YTL Creates One of the World’s Most Advanced Supercomputers, Powered by NVIDIA Grace Blackwell-based DGX Cloud
https://www.ytlpowerinternational.com/press-releases/ytl-creates-one-of-the-worlds-most-advanced-supercomputers-powered-by-nvidia-grace-blackwell-based-dgx-cloud/

1 week ago

Goldberg

Crescendo seals sixth land sale in seven months, to data centre firm

KUALA LUMPUR (June 11): Crescendo Corp Bhd (KL:CRESNDO) announced another land sale to a data centre company. This time around, the property developer is selling a parcel of land in Pulai for RM115.88 million, cash.

Crescendo’s wholly owned unit Panoramic Industrial Development Sdn Bhd (PID) has inked a conditional sale and purchase agreement with Singapore-based data centre firm Digital Halo Pte Ltd for the land transaction. The tract measures about 20.463 acres, according to a stock exchange filing.

The latest transaction marks the sixth land sale in seven months.

In total, Crescendo has sold over 150 acres of land for data centre-related development, bringing in sales proceeds of more than RM790 million, cash.


https://theedgemalaysia.com/node/715056

1 week ago

DaveInvest

Price went down to 3.74 now even with new land sale, my guess is.
Those shareholder with weaker holding power, which bought it at high price previously, sees an “exit” and faster sell off, which caused the sharp dip.
Maybe wait until they finish selling, then someone will absorb those low prices, and then start jack it up again to its appropriate post land sale price which from past sales it’s about +20-50cent from pre-sale price .

Watching afternoon market, it slowed down now, with buyer stronger than seller. Good sign.

1 week ago

ks55

Just need to wait for Q1 result by end of this month. With the sky high profit, every amateur will start to rush in. Most likely another special dividend is coming. No point keep too much cash in excess of normal business requirement.

1 week ago

DaveInvest

@ks55

Yea, good dividend track record, housing project coming soon also, if market responded well which many think it will due to its location and its long standing construction quality, even before sales revenue report out the share might respond to it.

1 week ago

serbatipu

Last quarter already announced divid. Very unlikely this qr got dividends again

5 days ago

lionel messi

Ya, they only pay once a year. Hope they will increase the frequency.

2 days ago

soon9913

Result coming out this month.
Pls be patience

2 days ago

lionel messi

That we know. It's dividend we are hoping for more than once a year as result is likely to be good.

1 day ago

DaveInvest

Base on the track record, I guess it’s safe to assume dividend at first and last quarter of the year, however, due to multiple extraordinary gain since last year, who knows if they will break the norm . Even if they didn’t, with Quarterly report out, we will know balance sheet more clearly which clearly should be good. Hope for surprises 😀

1 day ago

lionel messi

Well said Davel. Only good things will be coming with good fortune of being in the center of the data centre theme and in booming Johor. I expect a bonus issue no less to improve their share liquidity as big funds want to buy but not able due to low float.

1 day ago

DaveInvest

Nevertheless, I don’t put much hope into chances of any dividend mid year, year end of course yes.
However the bottom price previously is about 3.3-3.35, with new land sale , looking at the trend + amount of buyer and seller everyday,
I believe the new bottom price now is 3.55-3.6, unless if there is another long period of inactivity then maybe 3.45-3.55.

If there is any stimuli then it might wake up and fly, comparatively, if it goes any lower, maybe time to stock up on some.

7 hours ago

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