CRESNDO (6718): News and Blogs

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.

2 weeks 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.

2 weeks 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/

2 weeks 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

2 weeks ago

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.

2 weeks ago

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.

2 weeks ago

@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.

2 weeks ago

serbatipu

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

2 weeks ago

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

1 week ago

soon9913

Result coming out this month.
Pls be patience

1 week ago

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

1 week ago

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 week ago

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 week ago

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.

1 week ago

Good observation. Think it's a different animal after recent micro and macro development. Relatively low risk stock to buy or hold.

1 week ago

Invest_888

Sold RM790 million in 7 months, Market cap only RM1066 million.
QR will be out next week.
Should worth at least RM5.50 per share.

1 week ago

calvintaneng

THERE IS A LAND CLEANER & GREENER THAN SINGAPORE: AND LAND PRICES AS LOW AS 3 SEN SINGAPORE PER SQ FEET: WHERE TO FIND?

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-06-23-story-h-158783703-THERE_IS_A_LAND_CLEANER_GREENER_THAN_SINGAPORE_AND_LAND_PRICES_AS_LOW_A

1 week ago

hsong

30 more Data Centres in the pipeline in johore n plus highway expending price of land will appreciate more.

1 week ago

Tomorrow Crescendo will breach 4 ringgit.

1 week ago

investor77

Manipulators purposely sell down to create anxiety. If you notice the charts, one day up, next day, shorties will push down price. With very good quarter result going to be announced very, very soon, Good price to buy as it is undervalued. For qtr 1, ending 30/4 /2024 , Annual Report stated they have already received more than 300 million on no of shares of 280 million only !! So price will definitely shoot up when Eps is very high, maybe above RM1, and declares Hefty Dividend as what they did recently giving 18 cents. Many have bought at RM 3.80 and holding for the good News !!! Crescendo has 2,500 over acres being developed as in their Annual Report. !!! Buy and dont sell . TP is above RM 4/.

5 days ago

@investor77

I think so too, just look at yesterday’s closing session bidding, very obvious someone downplaying the market, and IMO recently definitely there is ppl keep buying at underpriced value that is under 3.7, press done and buy.

5 days ago

By Friday, the Q1 result will be out. Last 2 days to buy Crescendo cheap!

3 days ago

Hopefully result will be good. If got dividend will be even better.

3 days ago

Jnlee

making RM1,fly to the moon 🌙

2 days ago

newuser999

NTA shoot to RM 4.36 😂😂😂

2 days ago

ChloeTai

Can someone kindly please let me know what is the one time gain which resulted in this 1st quarter unbelievable high net profit. Is it due to the sales of lands?

2 days ago

Luen07

没有股息，没有分红，难怪股价迟迟不会动！

2 days ago

Q1 result Crescendo made 103 sen per share. Q2 result will be rm 250 million (83 sen per share) to rm 347 million (or 113 sen per share) if land sales to Digital Halo can complete by July. Not to forget still got 48 acres of industrial land in NCIP listed for sale.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3459677

"Barring major geopolitical uncertainties and economic headwinds, the Board is positive and confident of the prospects of the Group's upcoming new property development and anticipates that the Group will be operating at optimum capacity in the coming years. Based on the committed property sales of RM486 million as at 25 June 2024, including land sales at NCIP 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."

2 days ago

No more the same animal it was less than a year ago. Deserves a re rating and much higher valuation.

2 days ago

ChloeTai

If we minus the net profit from the data centre land sales, we still have 289.03 - 80.83 = 208.20 net profit. It should hit limit up tomorrow.

2 days ago

SorosMalaya

Sell on news ? ahaha

2 days ago

hsong

Nta rm 4.6

2 days ago

hsong

Sorry rm4.36

2 days ago

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 .

2 days ago

Goldberg

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

2 days ago

Goldberg

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

2 days 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.

2 days 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

2 days 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

2 days 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.

2 days 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.

2 days 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

2 days 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.

2 days ago

@lionel

Ya true also, let’s see how this plays out, still sometime to go before year end , hope it drop somemore 😂

2 days ago

Invest_888

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.

1 day ago

Really wonderful for serious buyers of the stock. With fundamentals like this, the cheaper the better.

1 day ago

edithcapital

Good news for Crescendians, it closed on support of the trendline
https://www.tradingview.com/x/t6jIyPt0/

1 day ago