Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
Lots of land being developed near Bkt Chagar, near to RTS. Industrial land n houses near Desa Cemerlang, JB. Sales of 545 mil + 110 mil coming in. Very small paid up. easy to. go up. Undervalued.
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 Bursa Malaysia property company whose main projects are in Johore. There has been some positive news about the Johore property market. But I am not sure how this is going to translate into the performance of the property developers in the short run.
I bought Crescendo about 9 years ago having valued its EPV then at RM 4.00 per share. The Book Value then was RM 3.25 per share.
The Book Value had not changed very much since then with the 2022 value at RM 3.29 per share. Its share price today is RM 1.38. Is this a value trap?
Over the past 12 years, the Group has generated a positive total gain for the shareholders. This was due to the dividends. The Group has a good dividend track record paying out about 40% of its earnings. I expect this dividend payments to grow in line with the Group’s performance.
Given that my purchased cost is below both the Asset Value and Earnings Power Value, I would continue to hold onto the stocks as I have a positive view of the sector over the long-run.