KLSE (MYR): CRESNDO (6718)
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Last Price
3.73
Today's Change
-0.09 (2.36%)
Day's Change
3.68 - 3.82
Trading Volume
240,300
Market Cap
1,046 Million
NOSH
280 Million
Avg Volume (4 weeks)
382,915
4 Weeks Range
3.60 - 3.88
4 Weeks Price Volatility (%)
52 Weeks Range
1.28 - 3.95
52 Weeks Price Volatility (%)
Previous Close
3.82
Open
3.82
Bid
3.73 x 10,100
Ask
3.80 x 10,900
Day's Range
3.68 - 3.82
Trading Volume
240,300
Latest Quarter | Ann. Date
30-Apr-2024 [#1] | 27-Jun-2024
Next QR | Est. Ann. Date
31-Jul-2024 | 27-Sep-2024
T4Q P/E | EY
3.14 | 31.82%
T4Q DY | Payout %
4.81% | 15.11%
T4Q NAPS | P/NAPS
4.34 | 0.86
T4Q NP Margin | ROE
41.19% | 27.33%
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.
Land sales lift Crescendo’s net profit to record high of RM289 million in 1QFY2025
KUALA LUMPUR (June 27): Land sales in Pulai, Johor, totaling RM219 million to data centre operators have boosted Crescendo Corp Bhd’s net profit to a record high for the first quarter ended April 30, 2024 (1QFY2025).
The property developer’s quarterly net profit jumped by 22 times to RM289.03 million from RM13.2 million a year earlier. Earnings per share ballooned to 103.44 sen from 4.73 sen. Quarterly revenue rocketed to RM527.28 million from RM58.34 million driven by its property development and construction division.
This marks the highest ever earnings for the Johor-based property developer since its listing in 1997, driven by its land disposals for data-centre related activities.
“Based on the committed property sales of RM486 million as at June 25, 2024, including land sales at Nusa Cemerlang Industrial Park of RM335 million out of which RM219 million has already been completed to date, the board expects the group to have an exceptional year in FY2025,” said Crescendo.
https://theedgemalaysia.com/node/717105
3 weeks ago
Crescendo's net profit soars to RM289mil in 1Q from data centre land sales
https://www.thestar.com.my/business/business-news/2024/06/27/crescendo039s-net-profit-soars-to-rm289mil-in-1q-from-data-centre-land-sales
3 weeks ago
Impending huge dividend and/or bonus issue is a matter of when not if. I know bonus issue is gimmicky but it has its merit for a small cap growth company like this.
3 weeks ago
lol too much ppl dumping and it plummeted, it’s fine, let it drop , I hope can drop to a heavily discounted point then can find timing to buy in, as next quarter gonna be fantastic
I hope institutional fund manager don’t come in, or else the price will go up leaving no chance for cheap price. Because we all know how much they love dividend and it seems like big dividend is on the way
3 weeks ago
Looking at the past history, next dividend payment will declare on 27 Sept. Very likely it will announce 30 sen dividend (5 sen interim + 25 special dividend). We noted Crescendo is very generous to shareholders and never fail to reward when it is making good money just like Paramount.
https://klse1.i3investor.com/servlets/stk/annent/6718.jsp
3 weeks ago
I wonder will the bankers come in anytime when the price bottoms , then buy , as I know the fund managers they like shares with good dividend, then they can promise their clients certain % of returns on the fund they manage, since this counter will be giving excellent dividend soon.
3 weeks ago
They want but not able to due to small cap and low liquidity. Which is why should do a more than justified bonus issue to increase their share capital. Win Win.
3 weeks ago
@lionel Messi
If I remember correctly , I think some banker do hold quite a large portion of their share. Wouldn’t be surprised if they decided to expand it
3 weeks ago
@Davel
Not many on the top 30 shareholders list. Even if they want to increase, not easy as there are just not much supply. Can't buy a lot without moving the share price.
3 weeks ago
@lionel
Ya true also, let’s see how this plays out, still sometime to go before year end , hope it drop somemore 😂
3 weeks ago
Abnormal dropping. Latest QR EPS=100cents or RM1. Next QR earning is expected to be great too as still got a lot of unbilled sales.
3 weeks ago
Really wonderful for serious buyers of the stock. With fundamentals like this, the cheaper the better.
3 weeks ago
Good news for Crescendians, it closed on support of the trendline
https://www.tradingview.com/x/t6jIyPt0/
3 weeks ago
Thanks for sharing. Great news. Time to accumulate. Low risk high dividend investment. Can sleep peacefully.
3 weeks ago
Johor property esp JB and its nearby area are booming, and also the best booming area in Malaysia. Also, CRESCENDO is willing to share profit with minority holder. I think can earn some more good money in this stock.
3 weeks ago
Great observation @Invest_888. Not many listed companies are willing to share their cash pile with minority shareholders.
3 weeks ago
with all the cash earned from land sales and more to come, company shd issue bonus div... could this be possible and if yes.... EPS was 103c and 90% was from land sales, therefore bonus div shd be 90% x 103c = RM0.93 :-)
2 weeks ago
Chairman's statement :
"In light of this demand, our Group is gearing up to launch a serviced apartment project in the latter half of FY2025. This project will encompass approximately 1,200 units and boast a gross development value (“GDV”) of RM1 billion. Situated along Jalan Senyum, in close proximity to the RTS terminal at Bukit Chagar, this development aims to cater to the burgeoning market needs. "
Look for similarity and compare logical thinking with video clip below:
https://www.youtube.com/watch?v=klecLTkvc44
2 weeks ago
Finally market is beginning to appreciate its fundamentals. Better late than never.
2 weeks ago
Don't trumpet so much brother. Keep this stock low profile and below the radar. Smart money wants to buy as cheap and as much as possible from weak, ignorant and impatient shareholders. Haha.
1 week ago
Well it looks like some player is playing push and dump with the price recently, I hope after they push and dump enough, the price will go back low enuf so we can stock up some more, since it’s long way until the usual dividend month
1 week ago
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
CRESCENDO CORPORATION BERHAD ("CCB" OR THE "COMPANY")PROPOSED DISPOSAL BY
PANORAMIC INDUSTRIAL DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF CCB, OF
A VACANT INDUSTRIAL LAND LOCATED IN THE MUKIM OF PULAI, DISTRICT OF JOHOR
BAHRU, STATE OF JOHOR FOR A TOTAL CASH CONSIDERATION OF RM115,877,876.40
("PROPOSED DISPOSAL")
1 week ago
For FY 2024, Crescendo is going to make not less than 2 ringgit per share. Share price is now less than 4 ringgit and you can have 2 ringgit net profit. Where the earth you can find this type of earning? Again we are expecting another round of special dividend to declare when they announce result for Q2.
1 week ago
The beauty of small cap to the delight of small investors. All numbers look fantastic on a per share basis. Big funds cannot buy due to liquidity issue but retail investors can slowly and quietly cherry pick. There are not many times when retailers have advantages over institutions. Grab the opportunity.
1 week ago
Crescendo bought 3.2 acres of land at Jalan Senyum to build 1200 condo units valued at rm 1 billion. Land cost rm 72 million.
Kimlun is in JV with Singapore landowner to develop 1.6 acres of land at Bukit Senyum across the road valued at rm 600 million. Land cost rm 62 million.
Just the land cost itself, Crescendo will make rm 50 million more. What about GDV rm 1 billion vs rm 600 million? Crescendo condo units to have 6 months to a year lead time advantage.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3463796
1 week ago
Extremely undervalued stock, however it’s quite obvious that some bigger player is manipulating the price last Friday, today not sure will they still be around or not to push and dump more, be mindful before making any buying decision this few days , just my 50 cent 😪
1 week ago
Manipulate all they want as long as fundamentals are intact and prospects are perfect. Smart money will collect. This is not a one off land sale story. At the forefront of a perfect storm about to happen in Johor. Let's ride it.
1 week ago
@lionel
Ya agree with u, let’s ride it and maybe dump some appropriate amount , can always buy back later since it’s a long way to go until dividend month
1 week ago
@Davel
Be warned. For deep value small cap stocks with great prospects and upcoming big dividend, it's sell at your own risk. Haha.
1 week ago
@lionel
It’s fine, just profit taking abit, I do believe sometime later it will go down, even if it doesn’t I don’t mind as well, either way it’s a win anyway.
small cap stock with low liquidity is somehow predictable, but not 100%
1 week ago
Maybe the player made enough and left this counter already , 15 tickets only so far.
Well eventually it’s gonna go back to the bottom price of about 3.55-3.65 or close to that
6 days ago
22 tickets for 3 hours + duration is a new low,
The goreng player has left the game probably.
Now both buy and sell queue looks more balanced comparing to yesterday.
Well give it sometime for ppl to cut loss and the price drop to normal again
6 days ago
No problem @Davelnvest. Love to play the waiting game with the weak, ignorant and impatient. But don't wait forever hoping for a certain price level. Like I said earlier, this is a completely different animal already.
6 days ago
@lionel
Well it isn’t very nice to use such harsh words to label them, for some of them, there could be various reason to buy at such price, everyone’s situation is different.
Anyway I will be moving to other counter first, some REIT market looks good especially SG’s
6 days ago
Same effect as 2 for 1 bonus. You will see share price to be above 4 ringgit at the first instance when market open for trading tomorrow!
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=149136&name=EA_GA_ATTACHMENTS
4 hours ago
I have great respect to Crescendo BOD and Senior Management for their integrity. With such major event and there is no leakage of information, no inside trading to prove one thing, Crescendo management is really a class above others.
4 hours ago
Many thanks @ke55 for conveying the fantastic news ie the generous corporate proposal. Cheers!
4 hours ago
Crescendo proposes three-to-one share split
theedgemalaysia.com
22 Jul 2024, 08:35 pm
KUALA LUMPUR (July 22): Crescendo Corp Bhd (KL:CRESNDO) has proposed the subdivision of every one of its shares into three shares to improve the trading liquidity of the property developer's shares.
As of July 3, the issued share capital of Crescendo was 280.46 million including 1.04 million treasury shares, the company bourse filing showed. Upon completion of the share split, the total number of issued shares will be enlarged to 841.39 million, the company said in a bourse filing on Monday.
Based on the last transacted market price of Crescendo share on July 3 of RM3.63, the theoretical adjusted reference share price per subdivided share upon the completion of share split will be RM1.21, the company said.
Crescendo has also proposed the establishment of an executive share option scheme of up to 10% of its share at any point in time within the five-year of its enforcement period.
The two proposals are expected to be completed by the second half of 2024, with UOB Kay Hian appointed as principal adviser.
Shares in Crescendo have gained by as much as RM1.33 or 55.63% since March 15, on the back of land disposals by the company in Pulai, Johor to data centre operators. The stock charted a historical high of RM3.95 on June 12. Year to date, the counter has gained RM1.28 or 52.24%.
At Monday’s close, the counter ended nine sen or 2.36% lower at RM3.73, valuing the company at RM1.04 billion.
Crescendo’s net profit for its first quarter ended April 30, 2024 rose by 22 times year-on-year to a record RM389.03 million, boosted by said land sales in Johor, totalling RM219 million. Revenue rocketed to RM527.28 million from RM58.34 million, driven by its property development and construction division.
3 hours ago
Well it’s a good news, but as usual please be level-headed about this.
1) there is no definite date for the ESOS/share split , only mentioned probably before end of the year , so don’t get too riled up and jump into market when manipulators are trying to take profit with this news and u get stuck, i might be wrong but I don’t think it will happen soon, it might happen when the price of stock is at around its highest point for the split, then only it will make sense, which means maybe it’s probably at maybe September- December.
2) share split altho have no actual value, but it does encourage smaller investor to buy and might also encourage the share price go up due to market sentiment, however ESOS quite often will make the market drop as employee of the company can buy at discounted share price, like what happens to YTL and other stocks previously, it depends on the terms of the ESOS.
3) after share price it might increase the liquidity of the stock, so manipulator might have harder time to control the price, so currently before the split it’s their chance to play with market price, so watch out
So my conclusion is, they announced both share price stimulating(split) and also it’s kryptonite(ESOS) at the same time,
So it’s kinda offset each other? but it depends on the performance next couples of month to see the actual effect, but with better liquidity it should be more stable and harder to manipulate next time. That being said, never underestimate the market, can never 100% predict it, so always 敬畏 market
So please keep head cool before making any decision. Cheers
33 minutes ago
DaveInvest
There are still payments that is yet to go into account as well, so next quarter should be fantastic as well, since no point keeping so much cash, another big dividend is highly possible year end , as per norm.
Tomorrow/next week price should start going up, unless too much ppl take this chance to dump 🙄 then it might dip again like last land sale.
Anyway I’m for medium-long term for this counter, might not find a good chance to buy in again at my old price , so I’m keeping it for now .
3 weeks ago