ks55Crescendo 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.
02/04/2024 10:09 PM
soon9913likely special div in coming quarters also due to huge gain from disposal of lands to data centre operators
04/04/2024 12:03 PM
ks55Crescendo 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).
ks55Estimated net profit is rm 80.8 million. Still left about 75 acres to be sold.
04/04/2024 7:02 PM
ks55We also expect proceed from land sale to STT GDC rm 117 million to come in by tomorrow.
04/04/2024 7:02 PM
GoldbergProperty 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
05/04/2024 1:47 PM
ks55First TOD by Crescendo going to take place in second half of this year. Land acquisition completed for 72 million.
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.
05/04/2024 2:18 PM
ks55All in all, this TOD is definitely going to be great success for Crescendo.
05/04/2024 2:20 PM
investor77Crescendo, 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.
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...
troy88Big dividend coming while stock is surging! One of the gem property stocks in bursa no doubt.
08/04/2024 10:17 AM
GoldbergCrescendo 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.
08/04/2024 10:39 AM
ConstructionMinionI heard Crescendo got more land to sell to DC. Likely another billion revenue and 50 sen dividend
calvintanengAN INTERESTING DISCOVERY: WHY MR GOOI SEONG GUM (DIRECTOR OF KMLOONG & CRESCENDO) BOUGHT 3 MILLION RSAWIT SHARES IN YEAR 2020, By Calvin Tan
ks55We 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!
09/04/2024 2:01 PM
ks55The earlier you make full payment, the soonest you can start your Data Center. Early bird gets the worm !
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.
newuser999Crescendo 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.
12/04/2024 12:24 PM
newuser999Crescendo said the disposal consideration was negotiated on a "willing-buyer willing-seller" basis, means "buy it or leave it", no bargaining power from buyer.
12/04/2024 12:27 PM
newuser999Both 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
ConstructionMinionCannot be. Paragon and Eco World just got their land cheap
12/04/2024 12:42 PM
ConstructionMinionWhere 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
12/04/2024 12:44 PM
ConstructionMinionMah 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.
12/04/2024 12:54 PM
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. :)
12/04/2024 1:48 PM
ConstructionMinionDon’t think every plot can sell RM120 psf. Annual report also got expected net land so around 50% willl be road and green area.
Also ulu Tiram if can be RM50 psf already very power. See SP Setia land deal RM13 psf
13/04/2024 11:54 AM
soon9913furthermore, pls expect some suppliers might buy land next time datacenter to provide their services and products ya.. RM120/ sqf is fair price
15/04/2024 1:06 PM
ks55Finally rm 117 million received. Land sales to STT GDC completed today.
The Board of Directors of CCB wishes to announce that the Completion Date as defined in the SPA 1, being the date on which the Balance Purchase Price is paid to the Vendor’s Solicitor as stakeholder in full, is 15 April 2024.
ks55Will 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. "
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.
Bullstocks888Really genius deal! Crescendo still have 1,200 acres land at Bandar Cemerlang, Johor. This land is now comparable to YTLP's Kulai land. Its now worth RM6.3 billion, which is 6x the market cap of Crescendo!!
Posted by dragon328 > 6 days ago | Report Abuse
Of note is that Crescendo sold a piece of land of 23 acres in Johor to Microsoft Payments at RM120 pst, what a genius deal for Crescendo management!!
FYI, YTLP bought the 657ha Kulai land at just RM6.00 psf, which means the Kulai land has appreciated in value by 20 times in just 2 years!! It was valued at RM430m then but is now worth RM8.5 billion !!!
ks55You should also peruse Analyst Briefing by Crescendo for better understanding of its Board Of Directors' business strategy, prospect and future direction of the company. And to compare with the AmRearch paper in 2013 (10 years ago) to see how things materialised gradually under able leadership of Crescendo.
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.
ks55Go and read up about AmResearch paper written in 2013 (10 years ago). It was a very well written high quality paper and still good today. Too bad after uploaded it here but was not able to get posted.
Click for the above paper if you are interested to find out more about Crescendo under heading CRESCENDO - I3investor.com dated 8 May 2013.
