Posted by erkongseng > 2014-06-01 10:36 | Report Abuse

公司的Net assets per share value是账面价值而不是market value. 而它大部分的资产lands是属于Iskandar特区一带的土地,他的market value最少是他账面价值的60%至100%以上(从它买进年份和现年价值作比较).
简单算;1)特区1663亩--每亩=43560平方英尺,几年前每方尺值10元,则1663*43560*10=7.24 亿
7.24亿/股数(2.2848亿股)=每股值RM 3.16
2)新山地不佬有865亩地,哥打丁宜526亩地,共1391亩,取每方尺5元算,则1391*43560*5=3.02亿
3.02亿/股数(2.2848亿股)=每股值Rm 1.32
因此共值RM 4.48
现在票数=22,8484 張,可转换债券（icls）有5,1978 張,在11-1-2016 到期.假如全部转换则，公司总共股数为22.8484+5.1978=28.0462張。
因此 a)7.24亿/股数(2.8046亿股)=每股值RM 2.58
b)3.02亿/股数(2.8046亿股)=每股值Rm 1.07
a) + b)= Rm 3.65
注--这里己发展掉的土地没有扣除,也沒加入发展后的净利,只是单单计算土地价值(实际上现在土地值己更高.)
个人推算,进出自负.
Company Net assets per share value is the book value instead of market value. While most of its assets lands are lands belonging to Iskandar, DC area, his market value is at least more than 60-100% of his book value (buy from it Year in and aged value for comparison).
Simple calculation; 1) DC 1663 acres - acre = 43,560 square feet, a few years ago the value of 10 yuan per cubic feet, then 1663 * 43 560 * 10 = 724000000
724,000,000 / D (2.2848 million shares) = RM 3.16 per share value
2) The new guy does not have 865 acres of mountain land, 526 acres of land in Kota Tinggi, a total of 1391 acres, take five yuan per count feet, then 1391 * 43 560 * 5 = 302 000 000
302 million / shares (2.2848 million shares) = value Rm 1.32 per share
Thus a total value of RM 4.48
Now the votes = 22,8484 Zhang, convertible bonds (icls) has 5,1978 Zhang, expires at 11-1-2016. Then if fully converted, the company total number of shares 22.8484 +5.1978 = 28.0462.
So a) 7.24 billion / $ number (2.8046 million shares) = value of RM 2.58 per share
b) 3.02 billion / $ number (2.8046 million shares) = value Rm 1.07 per share
a) + b) = Rm 3.65
Note - there has been no development of land swaps, net, did not join after net development, we simply calculate the value of the land (actually now have higher land values​​.)
Personal projection, out of conceit.

Posted by erkongseng > 2014-06-01 11:40 | Report Abuse

券商買進心頭好．可趁勢柔州資本增值 吉星地價遭低估


券商：肯納格證券研究
目標價：3.56令吉

我們給予吉星集團（CRESNDO，6718，主要板房產）“跑贏大市”評級，根據每股重估凈資產值（RNAV）5.08令吉，在折價30%后，我們取得3.56令吉的目標價。

　我們預計該公司將繼續進行重新估價，作為純柔州房產發展商，該公司大規模在大馬依斯干達地區發展，並打著工業用與可負擔房產旗幟，受惠于穩健市場需求。

　吉星集團目前享有處于歷史新低的地庫成本，這提供了彈性以維持房價競爭能力或擴大公司賺幅。我們預計，該公司在2014財年至15財年的盈利可成長31%至34%，淨股息回酬率介于5.9%至7.5%。

　整體而言，該集團在柔佛擁有2983英畝的土地，其中1663英畝位于依斯干達地區。許多在南部大規模發展的發展商，其股價在今年的回報率達20%至90%。我們也看好柔佛的“政府對政府”（G2G）合作措施和提高經濟驅動能力，包括了新加坡中小型企業移居到依斯干達。

　吉星集團的地庫嚴重遭到低估，其平均賬面價格成本為每平方尺3.50令吉，目前未開發的“綠地”價格為每平方尺8令吉至10令吉。

　該公司地價為歷史新低，他們具備彈性趁勢搭上柔州資本增值的列車，或把產品定價得更具競爭力，藉以擴大公司賺幅。值得注意的是，其稅前盈利的賺幅已從2010財年的16%，擴展至本財年的28%。

　根據我們的評估，該公司擁有74億令吉的余下發展總值，具有8至9年的可預見收益，比起其他發展商來得更久。

Posted by brendonyeap > 2014-06-02 09:50 | Report Abuse

I think u r over promoting this stock

Posted by davidkkw79 > 2014-06-02 09:54 | Report Abuse

better run, when it is overly promoting

Posted by stevechan > 2014-06-02 17:55 | Report Abuse

he has lots of shares waiting to ciao? haha...

Posted by lceng > 2014-06-03 09:49 | Report Abuse

good share, but price drop ! why ?

Posted by davidkkw79 > 2014-06-03 17:40 | Report Abuse

because of over promoting

Posted by brendonyeap > 2014-06-10 20:05 | Report Abuse

slowly coming up....good run

Posted by Keith Swl > 2014-06-12 00:19 | Report Abuse

Unbilled sales left 80millions which could only survive equal to one quarter revenue. I wonder how the company will be survive

Posted by Alex Chong > 2014-06-16 16:20 | Report Abuse

Time will be the good evident in share investing. eg, Kseng, 3476 have proven strongly under value before, look at its price now. Crescendo is another germ at Johor.

Posted by lepeng85 > 2014-06-20 10:57 | Report Abuse

pls refer what keith said before: Unbilled sales left 80millions which could only survive equal to one quarter revenue. I wonder how the company will be survive

Posted by georgemic88 > 2014-06-23 17:29 | Report Abuse

is Cresndo confirm the 9c div exdate in this week ?

Posted by Alex Chong > 2014-06-24 14:30 | Report Abuse

div ex-date yet to announce after the AGM. Crescendo have plenty of prime land bank that can be develop til 2018. The industrial land near by 2nd link highly on demand by foreigners, housing and Crescendo college located nearby hotspot Iskandar. What to worry about? This is not survival game.

Posted by lepeng85 > 2014-06-25 10:58 | Report Abuse

i worry no need to wait until 2018, maybe just sooner within half year then the stock market will be crashed ....

Posted by brendonyeap > 2014-06-26 23:59 | Report Abuse

27thJune Cresendo will be another Prolexus.....

Posted by Alex Chong > 2014-06-27 09:59 | Report Abuse

9% dividen ex 08/08/14

Posted by Sapphire > 2014-07-10 11:17 | Report Abuse

oii dun play 100unit -500unit...waste waterbill only...!

Posted by Sapphire > 2014-07-17 01:00 | Report Abuse

go go go...my white horse...

Posted by Sapphire > 2014-07-22 23:42 | Report Abuse

white horse sleeping dy..

Posted by Sapphire > 2014-07-25 12:22 | Report Abuse

lol...y so many hidden selling...plenitu and ksl dy up....here still.sleeping?

Posted by Bomchacha > 2014-07-27 01:11 | Report Abuse

Undervalued sure fly one

Posted by Sapphire > 2014-07-30 16:26 | Report Abuse

l&g 0.68dy....stilll sleeping...no power dy?

Posted by Superb99 > 2014-08-26 16:31 | Report Abuse

why 1q result was poor?

Posted by gnail > 2014-09-11 15:37 | Report Abuse

cresndo keep buying back its own shares.

Posted by ykgykg > 2014-09-26 12:38 | Report Abuse

Great retain earning and consistently create and enhance shareholders value.

Posted by ykgykg > 2014-09-28 19:28 | Report Abuse

The whopping 389M retain earning can be distributed as single tier dividend which is equivalent to almost RM1.70 per share according to Annual Report. Such a generous company, In fact , the company pass all the financial ratio as the management is very cautious and prudent with high profit margin.

Posted by Alex Chong > 2014-09-30 10:32 | Report Abuse

ykgykg, i noticed the 389M of interest pm ICULS. But doubt that the management did mention about the distribution of RM1.70 on report?

Posted by ykgykg > 2014-10-14 20:06 | Report Abuse

The company still stand strong and unintimidated by the market jittery scenario.

Posted by LCX1992 > 2014-10-24 17:11 | Report Abuse

how to calculate the div of this stock ? this stock good faudamental how come no movement @@

Posted by Brian Loke > 2014-10-27 14:30 | Report Abuse

last call dividend!

Posted by LCX1992 > 2014-10-31 10:05 | Report Abuse

Can somebody explain to me how to calculate the dividend for this stock ?

Posted by me07024 > 2014-11-03 20:55 | Report Abuse

% of dividend /100 x par value x market of stock???

Posted by me07024 > 2014-11-03 20:55 | Report Abuse

*stock price...

Posted by LCX1992 > 2014-11-05 17:40 | Report Abuse

why keep on going down ?

Posted by ykgykg > 2014-12-15 18:43 | Report Abuse

The return on equity is a bit low couple with less earning recently ,The oil effect is quite worrying with some expert expect it to touch US40/barrel soon. Hope it won't happen.

Posted by jupiter > 2014-12-19 17:35 | Report Abuse

real issue in Johor -- not enough employees. most of the hardworking go to spore to work.
that's very very real.... puts off some companies from relocating to Johor.

Posted by Timie > 2014-12-22 10:32 | Report Abuse

This is a hidden jewel... :)

Posted by gohlai > 2014-12-30 18:36 | Report Abuse

hidden jewel??...r u sure??...

http://www.thestar.com.my/Business/Business-News/2014/12/30/Crescendo-net-profit-falls/?style=biz

Posted by tjhldg > 2015-02-04 23:29 | Report Abuse

hhahahahhaa

Posted by xdxd > 2015-04-27 20:45 | Report Abuse

Make RM50 net from you today. Thank you. Will buy back at a lower price later. :)

Posted by Timie > 2015-04-29 16:57 | Report Abuse

Going up soon..

Posted by yfchong > 2015-05-27 12:08 | Report Abuse

looks like.......this plan going to visualise..,

Posted by yfchong > 2015-06-11 12:00 | Report Abuse

get ready life jacket...,to dive along..,

Posted by sell > 2015-07-05 22:00 | Report Abuse

Why so expensive(RM 2.40)? I never buy their product my whole life.

Posted by expensive > 2015-07-06 11:44 | Report Abuse

Why so expensive for a product I never buy? If RM 1.50 may consider.

Posted by expensive > 2015-07-06 11:46 | Report Abuse

RM 1.50 5 lot, RM 1.30 5 lot, RM 1.10 5 lot is OK to buy.

Posted by expensive > 2015-07-06 12:06 | Report Abuse

Buy high drop lower lose money. Why buy?
Wait until lowest safer to buy.

Posted by sell > 2015-07-13 11:21 | Report Abuse

More selling pressure seen for those buying on contra.

Posted by sell > 2015-07-14 09:53 | Report Abuse

Buy and get trap on expensive counter.

Posted by xdxd > 2015-08-12 19:46 | Report Abuse

It has low PE ratio at RM2++. Still cheap but this counter has little volume. Better for long term investment.