News about crescendo

The Johor-based property developer recorded a net profit of RM536.

Crescendo’s wholly-owned unit Panoramic Industrial Development Sdn Bhd inked a sale and purchase agreement with Microsoft's unit Microsoft Payments (M) Sdn Bhd for the land sale, according to the property developer's bourse filing on Monday.

The Johor-based property developer recorded a net profit of RM103 million for the quarter ended Oct 31, 2024 (3QFY2025), compared to RM18 million a year earlier, according to a bourse filing on Friday.

These plots form part of the Nusa Cemerlang Industrial Park, a light and medium industrial development undertaken by Crescendo, covering a total area of 800,413.

The land provides access to the Second Link to Singapore, Port of Tanjung Pelepas, North-South Expressway, as well as the Senai International Airport, making it ideal for development of industrial properties, Crescendo said.

Crescendo declared an interim dividend of one sen per share, along with a special dividend of five sen per share, totalling six sen per share, to be paid on Nov 13.

Crescendo has also proposed the establishment of an executive share option scheme of up to 10% of its share at any point in time within the five-year of its enforcement period.

Earnings per share ballooned to 103.

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.

Crescendo struck three land deals in November last year.