Crescendo 2Q net profit jumps to RM70.56m on NCIP data centre land sale

Crescendo Corporation Bhd's second-quarter net profit more than quadrupled to RM70.56 million, driven by a data centre land sale at Nusa Cemerlang Industrial Park. Revenue rose 157.8% to RM201.43 million, and the group declared an interim dividend of two sen per share.

PETALING JAYA (Sept 30): Crescendo Corporation Bhd's net profit attributable to shareholders more than quadrupled to RM70.56 million in the second quarter ended July 31, 2026 (2QFY2027), from RM15.61 million a year earlier. Revenue rose 157.8% to RM201.43 million from RM78.12 million, while basic earnings per share increased to 8.35 sen from 1.85 sen.

In its unaudited quarterly results filed with Bursa Malaysia on Tuesday (Sept 29), Crescendo said the quarter's performance was mainly driven by the recognition of a data centre land sale at Nusa Cemerlang Industrial Park (NCIP). The group declared an interim single-tier dividend of two sen per share, compared with one sen in the corresponding period last year. It will be paid on Nov 12 to shareholders on the register as at Oct 23.

For the first six months of FY2027, net profit surged to RM206.31 million from RM20.82 million, while revenue climbed 262.7% to RM519.30 million from RM143.19 million. Crescendo attributed the stronger first-half performance mainly to data centre land sales at Kota Cemerlang Industrial Park (KCIP), formerly known as Bandar Cemerlang Industrial Park, and NCIP, recognised in the first and second quarters respectively.

Its property development and construction division remained the main contributor, recording first-half segment revenue of RM463.74 million and operating profit of RM272.11 million, compared with RM95.78 million and RM19.38 million respectively a year earlier. On a quarter-on-quarter basis, net profit fell 48% from RM135.74 million, while revenue declined 36.6% from RM317.87 million. Crescendo said the preceding quarter's performance was mainly driven by the recognition of the KCIP data centre land sale.

During the first half, the group launched 167 mid- to high-end landed homes at Bandar Cemerlang and 24 Rumah Mampu Milik Johor Type B units at Taman Dato' Chellam, with a combined gross development value (GDV) of RM167 million. It plans to launch 18 semi-detached factories at KCIP, with a total GDV of RM115 million, within the next year. Its gross landbank, including land under development, stood at 2,419 acres as at July 31.

Crescendo said it remained optimistic about Johor's property market, citing investment attracted by the Johor-Singapore Special Economic Zone and improved cross-border connectivity expected from the Johor Bahru–Singapore Rapid Transit System Link. Government initiatives and steady foreign direct investment inflows were also expected to sustain demand for industrial properties, it said. However, the group expects the operating environment to remain challenging amid geopolitical tensions, volatility in global supply chains and energy markets, and rising construction costs.

Based on locked-in sales and land sales at NCIP and KCIP, the board expects Crescendo to continue performing reasonably well in FY2027.