KUALA LUMPUR (Dec 30): Johor-based property developer Crescendo Corporation Bhd (KL:CRESNDO) posted a 31% year-on-year drop in net profit for the third quarter, largely due to one-off gains from data-centre-related land sales at Nusa Cemerlang Industrial Park recorded in the previous year.
For the quarter ending Oct 31, 2025 (3QFY2026), Crescendo’s net profit fell to RM70.3 million, or 8.35 sen per share, compared to RM101.3 million, or 12.08 sen per share in the same period last year. Revenue decreased 6% to RM217.4 million from RM231.2 million, according to the company’s bourse filing.
The group also declared a special single-tier dividend of six sen per share, payable on Feb 10, 2026, bringing its year-to-date payout to seven sen, unchanged from last year.
Crescendo’s core property development and construction operations continued to drive results, generating RM201.7 million in revenue and RM85.5 million in operating profit, representing over 78% of total revenue and 81% of operating profit for the quarter.
Over the cumulative nine months ending Oct 31, 2025, the decline was more pronounced. Net profit fell to RM93.7 million from RM523.7 million in the same period last year, while revenue dropped 66% to RM362.8 million from RM1.08 billion.
Despite lower earnings, Crescendo remains optimistic about the Johor property market. This confidence is supported by infrastructure developments such as the Johor Bahru–Singapore Rapid Transit System (RTS) Link and the upcoming Johor–Singapore Special Economic Zone (JS-SEZ). The recent 25-basis-point reduction in Bank Negara Malaysia’s Overnight Policy Rate is also expected to create a favourable environment for property investors and homebuyers.
Moving forward, the company intends to adopt a prudent development strategy, leveraging its strategic land bank of 2,486 acres (including parcels currently under development) to align projects with market demand while managing rising costs from minimum wage adjustments, fuel and subsidy rationalisation, and service tax expansion.
In the next 12 months, Crescendo plans to launch 167 mid- to high-end landed residential units at Bandar Cemerlang and 24 semi-detached factories at Bandar Cemerlang Industrial Park, with a combined gross development value (GDV) of RM289 million. These initiatives highlight opportunities in industrial land in Selangor, factory developments in Puchong, commercial property in KL, office space in Bukit Jalil, and industrial property in Subang area for investors seeking strategic growth.
Malaysia