CRESCENDO CORPORATION BHD

KLSE (MYR): CRESNDO (6718)

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Last Price

3.65

Today's Change

+0.21 (6.10%)

Day's Change

3.45 - 3.65

Trading Volume

1,269,500

Overview

Market Cap

1,024 Million

NOSH

280 Million

Avg Volume (4 weeks)

686,547

4 Weeks Range

2.57 - 3.65

4 Weeks Price Volatility (%)

100.00%

52 Weeks Range

1.13 - 3.65

52 Weeks Price Volatility (%)

100.00%

Previous Close

3.44

Open

3.45

Bid

3.64 x 9,000

Ask

3.65 x 52,000

Day's Range

3.45 - 3.65

Trading Volume

1,269,500

Financial Highlight

Latest Quarter | Ann. Date

31-Jan-2024 [#4] | 27-Mar-2024

Next QR | Est. Ann. Date

30-Apr-2024 | 28-Jun-2024

T4Q P/E | EY

17.88 | 5.59%

T4Q DY | Payout %

4.91% | 88.14%

T4Q NAPS | P/NAPS

3.50 | 1.04

T4Q NP Margin | ROE

16.82% | 5.82%

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 307 comments

Dehcomic01

Crescendo’s performance over the past 12 years has been impacted by the soft property
market. Despite this environment, the Group managed to be profitable every year. But the property sector is cyclical and with the post-Covid-19 opening of the economy, the bottom of the cycle has been reached.

Crescendo's outlook is optimistic. Positioned near vital projects like Iskandar Malaysia and Pengerang Integrated Petroleum Complex, it is poised for growth in demand for
both residential and industrial units.

Crescendo is currently trading below its Asset Value with more than a 30% margin of safety. As a property company, the Asset Value is a good reflection of its intrinsic value. Have a look at my updated valuation at page 20 in INVEST https://notice.shareinvestor.com/email/newsletter/invest/pdf/Vol199-Invest-15Mar.pdf

3 weeks ago

Goldberg

VALUATION

2 key approaches to assess the intrinsic value of Crescendo:

• Asset Value: I used the Book Value here of RM3.32 per share

• Earnings Value of RM4.64 per share:

EPV based on average earnings over the past 12 years plus the value of the non-operating assets. My non-operating assets include excess land held for development as well as an estimate of the land re- valuation surplus.

https://notice.shareinvestor.com/email/newsletter/invest/pdf/Vol199-Invest-15Mar.pdf

3 weeks ago

ks55

As it is coming closer to end of Mac whereby Q4 result will be announced, price should move up gradually with the expectation of windfall dividend.

https://klse1.i3investor.com/servlets/stk/annqtyres/6718.jsp

3 weeks ago

Goldberg

Crescendo to announce good set of results soon and a generous dividend is in the offing.

3 weeks ago

ks55

What is the outlook for the property market in Malaysia?
According to a study conducted by Juwai IQI, an international real estate property transaction group, the buy-to-rent ratio for 2024 stands at 91.1% for purchases and 8.9% for rentals, signalling robust confidence in the real estate market. Anticipated increases in yields further support this positive outlook.16 Jan 2024

3 weeks ago

PureBULL ...

Property Theme Play is on ON...

CRESNDO is the # 1 property stock by math #.
yes or YES, the true blue A1 stock.

how can players keep dumping the # 1 stock in the sector to buy what? bandaraya?

this stock would be fast to anger like Apollo did on grand BO few mkt days!

3 weeks ago

ks55

You should peruse Analyst Briefing by Crescendo for better understanding of its Board Of Directors' business strategy, prospect and future direction of the company.

I am very confident Crescendo should form major portion for your retirement planning.
It is safe, growing and rewarding under present able and credible leadership.

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

3 weeks ago

ks55

Most likely Crescendo will announce Q4 result tomorrow. You will see more trading activity by 11.30am, and price to shoot to the moon by 4.30pm.

2 weeks ago

Goldberg

Fantastic results and a generous dividend of 18 cents per share. Hallelujah!

2 weeks ago

ks55

Crescendo net profit 20.42 sen, dividend declared 18 sen. This does not include land sales estimated net profit 312 million.

What will be the share price when it open for trade on Friday?

Very important point to note is the integrity of Crescendo Directors, Auditors, senior staff dealing with accounts and finance. No insider try to profit from this stirling set of results and propose dividend. Good management, credible, efficient, professional and staff with integrity.


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3434290

2 weeks ago

Goldberg

Crescendo declares special dividend as earnings surge to seven-year high


(March 27): Property developer Crescendo Corporation Bhd on Wednesday declared a special dividend as earnings surged to a seven-year high on the back of rising home sales and high margin industrial land disposal.

The company expects to “perform well” in FY2025 as the land sales in Nusa Cemerlang Industrial Park will gross RM545 million and allow the company to book an estimated gain after tax of about RM310 million upon their completion in FY2025.

Within the next one year, the company plans to launch 167 units of mid- to high-end market landed residences at Bandar Cemerlang and 57 units of shop-offices at Desa Cemerlang with a total gross development value (GDV) of RM237 million, it noted.

Further, Crescendo will begin 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,” Crescendo.

Crescendo also plans to launch 1,200 units of serviced apartments near Bukit Chagar with a total GDV of about RM1 billion in the second half of FY2025.
The company turned around in the final quarter of FY2024 with net profit of RM21.61 million from a net loss of RM3.64 million in the same period a year earlier.

Revenue for the quarter tripled year-on-year to RM120.11 million from RM39.27 million.
In Nov 2023, the company signed two separate agreements to sell freehold vacant land for a total of RM117.02 million. Crescendo completed another deal to sell land for RM315.17 million in the same month.

https://theedgemalaysia.com/node/706187

2 weeks ago

PureBULL ...

CRESNDO, the # 1 property stock on Property.Theme.Play in DC Biz

Property.Theme.Play in JB is back, driven by DC, the best biz in the world now.

lead furiously by its top stocks;
Sunway
https://www.tradingview.com/x/EtrWIcCa/
n then
Ecowld
https://www.tradingview.com/x/lbHVMuTd/
Uems
https://www.tradingview.com/x/aJ3mP27N/
VS
Cresndo, on early sign of recovering from its CN, Correction,
https://www.tradingview.com/x/A3pIV6UR/
+++++++++++++++++++++++++++

3 weeks ago | Report Abuse
CRESNDO

has a v high intrinsic value as high as $9 as presented by analysts.
being an A1 stock in the property sector, it would likely be the next ytlpowr in the making n MORE...
its location pt on its fin mountain is like ytlp at 1st peak of 2.24 then on Sep 20th, 2023,,
On an imminent grand BO, it becomes derisk = zero risk. it should then be on route to ytlp's 2nd peak of 4.24 n ++.

EW Theory tells its future TP i.e.
MAJOR C = or > MAJOR A
n is located at $4.55 n + overshoot.

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

https://www.tradingview.com/x/Fmku6T1k/

Cresndo sold 100 acres of land to CINA DC, SIN DC n MSFT DC at high prices totaling $543 million cash.
its mkt cap now is so low VS its VALUE n cash on the book.
it still has large annex land of 102 acres, for DC development on that Pulai plot after selling half away.

its land at Pulai is nearer to Forest City than Kulai.
all foreign tech experts will stay only at F City with SFZ status, to enjoy the max 15% income tax.,.

https://klse.i3investor.com/web/blog/detail/bursastocktalk/2023-12-12-story-h-212493122-CRESNDO_Potential_Beneficiary_of_Data_Center_JB_Singapore_RTS

https://www.cnbc.com/2024/03/18/saudi-aramco-ceo-says-energy-transition-is-failing-give-up-fantasy-of-phasing-out-oil.html?&qsearchterm=Aramco%20CEO%20Nasser%20Says

https://klse1.i3investor.com/blogs/savemalaysia/2024-03-21-story-h-185649382-Digital_economy_proposed_sector_of_focus_for_Johor_Singapore_Special_Ec.jsp
++++++++++++++++++++++++++++++
He added that Johor has also witnessed the rapid expansion of the data centre industry in the past two years.

“At the moment, we have four DC, data centres that are up and running while 10 more are in various stages of construction and another 14 more are in various stages of discussion with the state government and federal government," said Lee.
++++++++++++++++++++++++++++++
https://klse.i3investor.com/web/stock/financial-quarter/6718
just declared a total dividend of 18 sen ex date on April 24th, 2024,
https://theedgemalaysia.com/node/706187

2 weeks ago

diuleiloumei

ahem, what's the TP ?

2 weeks ago

ks55

Another rm 117 million is coming by next week. That will boost Crescendo share even higher.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3430853

2 weeks ago

Goldberg

A simplistic approach based on last Q's result would be 8 cts x 4 = 32 cts x PE of 12 = 3.84.

A TP of RM 3.80, I recon is a conservative TP.

On a more upbeat approach would be - factoring in fantastic profits from various parcels lands sold to Multinationals to build DCs - a TP of RM 4.50 is reasonable.

Above all, this company is generous when it comes to sharing profits ( vis dividends) unlike other Property companies.

Just my 2 cents ya.

2 weeks ago

diuleiloumei

18 sen divid only can reached 2.98 ? hmmmm

2 weeks ago

silentWolf

@DLLM many retailer still sleeping. dun worry

1 week ago

ks55

Will receive another rm 111 million within April. All land disposal should complete by this month.

"The Board of Directors of CCB wishes to announce that its wholly-owned subsidiary, PID, as the Vendor, has on 15 November 2023 entered into a Conditional Sale and Purchase Agreement with Yu Ao Sdn. Bhd. (Registration No. 202301029352 (1523275-W), as the Purchaser, for the disposal of all those nine parcels of freehold vacant lands for a total cash consideration of RM110,997,982.50. "

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3399658


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 2 April 2024.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3435719

1 week ago

ks55

Crescendo will report exceptional good Q1 result by Jun with rm 312 million extraordinary gain from land disposal.

May have good news in coming month for additional disposal of 100 acres for another rm 500 million.

1 week ago

soon9913

likely special div in coming quarters also due to huge gain from disposal of lands to data centre operators

1 week ago

ks55

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

1 week ago

ks55

Estimated net profit is rm 80.8 million.
Still left about 75 acres to be sold.

1 week ago

ks55

We also expect proceed from land sale to STT GDC rm 117 million to come in by tomorrow.

1 week ago

Goldberg

Property developer Crescendo rises to record high on land disposal


KUALA LUMPUR (April 5): Crescendo Corp Bhd's shares surged to a record high on Friday following the announcement of the Johor-based property developer’s latest land disposal plan.
The counter rose as much as 5.86% to RM3.25 during Friday’s morning session, before paring its gains to RM3.22 by noon break. At RM3.25, the group is valued at RM903.09 million.

Crescendo, through its wholly-owned subsidiary Panoramic Industrial Development Sdn Bhd, has sealed a deal with Microsoft Payments (Malaysia) Sdn Bhd for the sale of a vacant parcel of freehold land spanning 1.1 million sq feet in Pulai, Johor for RM132.47 million. The group expects to realise a net gain of RM80.83 million from this recent proposed land transaction.

https://theedgemalaysia.com/node/707117

1 week ago

ks55

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 highrise, it should be 15 to 20% of the development cost.

1 week ago

ks55

All in all, this TOD is definitely going to be great success for Crescendo.

1 week ago

investor77

Crescendo, the next YtlPower ? Land sales makes good profit, like TSH. Bulugan sales Cresndo 500 mil , plus another 100 over million will make shares jump. !! Anyway, like OTB says, third wave of EW theory for YtlP is very powerful. Can overcome ATH of 4.24.

1 week ago

PureBULL ...

JB BEST PROPERTY STOCKS

Estate land is selling not in acres but in real life of high $120 per sq ft.
this is unbelievable yet certainly TRUE.
1 acre = 43,560 sq ft

SIN gov is the world cleverest.
it charms n attracts all the top giant high tech co to SIN island.
Best biz now in DC is causing extreme pressure to SIN's entire system of power n water supply.
Recently its property prices n rental rate r 1 of the world highest.

SIN gov knows too well that JB only can help n JB is doing all possible as the lovely JV partner.

JB property stocks with grand old well located land r the best to high speed success.
CRESNDO is proven the 1st best now for selling land to 3 top DC co totaling $543 mill + $132 mill cash to MSFT again this week.
KSENG, once known as the value trap stock since the last 25 yrs ago, is an A1 super bullish stock.

These 2 stocks have ultra high intrinsic values awaiting for the mkt to recognize them asap...

https://www.tradingview.com/x/o2IZtR4D/
https://www.tradingview.com/x/ySeHvDNF/

https://klse.i3investor.com/web/stock/financial-quarter/6718
https://klse.i3investor.com/web/stock/financial-quarter/3476

https://klse1.i3investor.com/blogs/purebull/2024-03-23-story-h-185591883-The_1_property_stock_on_Property_Theme_Play.jsp

1 week ago

hsong

What are the other DC counters. Pls share

6 days ago

troy88

Big dividend coming while stock is surging! One of the gem property stocks in bursa no doubt.

4 days ago

Goldberg

Crescendo has always been generous in rewarding shareholders- that's beauty of Crescendo unlike some companies that only reward their Directors. Keep it up Crescendo and Kudos the the fantastic management in creating value for the shareholders.

4 days ago

ConstructionMinion

I heard Crescendo got more land to sell to DC. Likely another billion revenue and 50 sen dividend

4 days ago

ConstructionMinion

how bout KSL

4 days ago

Goldberg

KSL is a very profitable company.

4 days ago

calvintaneng

AN INTERESTING DISCOVERY: WHY MR GOOI SEONG GUM (DIRECTOR OF KMLOONG & CRESCENDO) BOUGHT 3 MILLION RSAWIT SHARES IN YEAR 2020, By Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-04-09-story-h-184552044-AN_INTERESTING_DISCOVERY_WHY_MR_GOOI_SEONG_GUM_DIRECTOR_OF_KMLOONG_CRES

4 days ago

ks55

We also expect proceed from land sale to STT GDC rm 117 million to come in by tomorrow.
04/04/2024 7:02 PM

Have been waiting for this money to come.
When is the Singapore company going to pay?
Why take so long?
Microsoft can pay 2 weeks after all paper work were in order, but Singapore company is a bit slow in payment.
Better improve your efficiency STT GDC and be a good paymaster!

3 days ago

ks55

The earlier you make full payment, the soonest you can start your Data Center. Early bird gets the worm !

3 days ago

PureBULL ...

Position Well For The BIG WAVE In JB

The over-flowing of wealth from SIN island is fast making JB, the place for high growth n high speed success...
GO after the top happening stocks in DC related, we must.

https://www.youtube.com/watch?v=nLhD053d7ZY&ab_channel=ChronTen

2 days ago

ConstructionMinion

Around RM3.50 and can only be RM4.50 maximum ?

1 day ago

troy88

Very bullish. Otw to RM4

20 hours ago

newuser999

Crescendo has landbank 2600 acres @ 113,256,000 sqft in JB.
After sold lands in November last year and recent 4th of April (two times to Microsoft Payment) which totaling 5,589,537 sqft, the landbank balance is still as high as 107,666,463 sqft.

18 hours ago

newuser999

Crescendo said the disposal consideration was negotiated on a "willing-buyer willing-seller" basis, means "buy it or leave it", no bargaining power from buyer.

18 hours ago

newuser999

Both lands sold to Microsoft Payments at total price RM 447,640,000 with total land size 3,726,380 sqft, which is RM 120 per sqft.

Current landbank of Crescendo = 107,666,463 sqft. Premised on 1 sqft = RM 120, the value of landbank = RM 12.92 billion

18 hours ago

Invest_888

Nice moving up today.

18 hours ago

ConstructionMinion

Cannot be. Paragon and Eco World just got their land cheap

18 hours ago

ConstructionMinion

Where else can Cresendo sell to Microsoft? I remember also KSL said his land worth RM600 psf. I heard when negotiate with Microsoft, Cresendo is like little mouse. They want to sell RM300psf but microsft said RM120psf take it or leave it

18 hours ago

ConstructionMinion

Mah Sing Group Bhd’s wholly owned subsidiary Venice View Development Sdn Bhd has entered into a conditional sale and purchase agreement to acquire 40.4686 hectares (100 acres) for RM103.75 million.

Located in Johor, the site is about 400 metres from a June 2023 purchase of 30.63 ha (75.7 acres) known as M Tiara.

18 hours ago

newuser999

@ConstructionMinion: Thanks for the input. I just bulat2 calculate based on news. Even if at RM 120 per sqft, the sales value is substantial too.

Hope to get more input and pointer from you. :)

17 hours ago

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