Crescendo Corp. Bhd. · MYX:CRESNDO
Crescendo Corp. Bhd — FY2024 Earnings Presentation
50 slides from Crescendo Corp. Bhd's earnings presentation, May 2024
Slide 1: Corporate Profile
19950 1 0 3 0 5 4 4 CORPORATE PROFILE
Slide 2: Property Development
J F crescendo PROPERTY DEVELOPMENT
Slide 3: Development Landbank
DEVELOPMENT LANDBANK Project /Taman Distance Status Type of Development from JB Development Land (Acres) Bandar Cemerlang 20km * - Tebrau, Johor Bahru Approved (i) Mixed 733 - Kota Tinggi Approved (i) Industrial/ 636 Residential * Taman Perindustrian 16km Approved Industrial/ 31 Cemerlang Commercial
Slide 4: Location of Landbank
LOCATION OF LANDBANK Bandar Cemerlang ( 1500 acres) Taman Dato Chellam ( 38 acres) Desa Cemerlang & Taman Perindustrian Cemerlang CLSB ( 1100 acres) Land Taman Perindustrian Nusa Cemerlang Tanjung Senibong ( 527 acres) ( 222 acres)
Slide 5: Bandar Cemerlang (BC)
BANDAR CEMERLANG (BC) • 1,500 acres of gross development land near Ulu Tiram to develop into a 974 acres of self-contained new township of residential/commercial developments and a 526 acres of industrial park. • Interchange completed in June 2011. It provides easy access to Bandar Cemerlang via the
Slide 6: Bandar Cemerlang (BC) (cont.)
BANDAR CEMERLANG (BC) (CONT.) • To date, about 15% of the township was developed with a total GDV value of RM963 million. This comprised 900 units of medium high cost landed houses with GDV of RM678 million, such as three storey cluster, double storey terrace, cluster and semi-detached houses that a
Slide 7: Layout Plan of BC
crescendo LAYOUT PLAN OF BC BANDAR CEMERLANG TETUAN CRESCENDO DEVELOPMENT SDN. BHD.
Slide 8: Layout Plan of BC (cont.)
crescendo LAYOUT PLAN OF BC (CONT.) PELAN PRASITUNGAN BAGIPERUOHOMAN KELULUSAN KERENARAN HERAHCANG DAN SERAH BALIK KURMIA SEMULA SECARA GERENTA BBACICADANGAN PERTANAN DAN PENBANGUNAN JALAN MASUK DIATASLOT 14, LOT 18 LOT 859, LOT 1176, LOT 1842, LOT 2016 02N LOT 12 LOT BARU i642) 'NUKIM HOTA TING DAE
Slide 9: Nusa Cemerlang Industrial Park (NCIP)
NUSA CEMERLANG INDUSTRIAL PARK (NCIP) • 527 acres of gross development land with 15.98 acres of the land to build commercial and residential properties. • Main infrastructures such as rail, port and major highway are all in place nearby. • To date, 197 units of industrial properties with a total GDV
Slide 10: Nusa Cemerlang Industrial Park (NCIP) (cont.)
NUSA CEMERLANG INDUSTRIAL PARK (NCIP) (CONT.) • To date, the Group has launched about 200 acres of industrial land for sales in NCIP . The first phase of 103 acres was sold through several conditional sale and purchase agreements (“SPAs”) with a total lock-in sales of RM545 million. Three of the SPA
Slide 11: Layout Plan of NCIP
crescendo LAYOUT PLAN OF NCIP (539) PLSB - RENTAL UNITS. (GBM AREA WITH CONDITIONAL SPA (aq PID - UNSOLD UNITS (ET PID - UNIT SOLD.
Slide 12: Panoramic Land Sdn Bhd (PLSB)
PANORAMIC LAND SDN BHD (PLSB) • This is the industrial property investment arm for rental purposes. • Currently, there are 18 plots of land measuring approximately 51 acres located at NCIP. To date, a total of 14 units of factories have been completed with the completion and issuance of CCC. • The 1
Slide 13: Jalan Senyum Project
JALAN SENYUM PROJECT • In line with the Group’s strategy of acquiring landbanks with good development potential, Crescendo Landmark Sdn. Bhd., a wholly-owned subsidiary, had in September 2023 entered into a conditional sale and purchase agreement for acquisition of 2 plots of freehold vacant lands a
Slide 14: Location Plan of Jalan Senyum Project
LOCATION PLAN OF JALAN SENYUM PROJECT
Slide 15: Taman Perindustrian Cemerlang (TPC)
TAMAN PERINDUSTRIAN CEMERLANG (TPC) • TPC, a 600-acre industrial park with close to 980 factories, is fully developed and is one of the largest industrial parks in Johor. • Located approximately 18km from Johor Bahru, 32km from Senai Airport and 19km from Singapore.
Slide 16: Taman Perindustrian Cemerlang (TPC) (cont.)
TAMAN PERINDUSTRIAN CEMERLANG (TPC) (CONT.) • The current phase of this project comprised 6 units of semi-detached factory and 2 units of detached factory with a total GDV of RM58 million that were launched in October 2022. Total sales to date up to 31 March 2024 is RM42 million.
Slide 17: Desa Cemerlang (DC)
DESA CEMERLANG (DC) • Self contained matured township development next to TPC with 6,900 units of mixed development and to date we have developed about 90% of this land. • The latest development for this project is 5 units of double storey shop office with total GDV of RM7 million which were launche
Slide 18: Layout Plan of DC & TPC
F'crescendo LAYOUT PLAN OF DC & TPC DESA CEMERLANG & TAMAN PERINDUSTRIAN CEMERLANG CRESCENDO GROUP OF COMPANIES |
Slide 19: Tanjung Senibong
TANJUNG SENIBONG • Prime mixed residential and commercial development of 221.58 acres of land. • Comprises 1,854 units of residential properties to be built on 33.05 acres of land and commercial complex on 6 plots of net land measuring 72.68 acres. • A waterfront project located in a prime location
Slide 20: Layout Plan of Tanjung Senibong
LAYOUT PLAN OF TANJUNG SENIBONG
Slide 21: Taman Dato' Chellam (TDC)
TAMAN DATO’ CHELLAM (TDC) • 37.6 acres of mixed development land acquired on 12 May 2004. • Opposite to TPC and DC. • To date we have launched the 258 RMMJ townhouse units with total GDV of RM40 million. Its construction has commenced since August 2023.
Slide 22: Layout Plan of TDC
F'crescendo ‘TAMAN DATO CHELLAM 8) OQ = LL. O = < oll ou — =) O > < oll
Slide 23: Ambok Resorts
AMBOK RESORTS • The completion of Sg Johor Bridge project in tandem with Senai-Desaru Highway has enhanced the accessibility and land value of this 794-acre landbank in Kota Tinggi. • Zoned for mixed development and possible to start developing this land in 6 years’ time. • The Pengerang Integrated
Slide 24: Location Plan of Ambok Resorts
LOCATION PLAN OF AMBOK RESORTS
Slide 25: Construction
CONSTRUCTION • Undertaken by Unibase group, which commenced activities in August 1989. • Undertakes mainly in-house contracts with some external contracts under Repute Construction Sdn. Bhd.
Slide 26: Concrete Product Manufacturing
CONCRETE PRODUCT MANUFACTURING • The main products include jacking pipes, cladding pipes, slab, and other precast products for local and export market. • The products have been supplied to several sewerage and portable water pipeline projects in Singapore. • The export sales of the total sales for p
Slide 27: Concrete Product Manufacturing (cont.)
CONCRETE PRODUCT MANUFACTURING (CONT.) • This operation was awarded with various certifications under Quality Management System ISO9001 : 2015 and Singapore Concrete Institute’s Precaster Accreditation Scheme.
Slide 28: Education
crescendo EDUCATION
Slide 29: Education
EDUCATION • Crescendo International College (“CIC”) caters for Cambridge A-levels, tertiary education and professional qualification. • Crescendo-HELP International School (“CHIS”) offers primary and secondary education based on International General Certificate of Secondary Education (IGCSE) syllab
Slide 30: Near-Term Prospects
NEAR-TERM PROSPECTS • The total committed property sales as at 16 May 2024, including land sales at NCIP of RM677.5 million, is RM828.9 million. • Based on the lock-in sales and all the land sales in NCIP which are expected to be completed in FY2025, the Board expects the Group to have an exceptiona
Slide 31: Near-Term Prospects (cont.)
NEAR-TERM PROSPECTS (CONT.) • Proposed Development for Financial Year 2025 to 2027 Dev elopment Type Unit av ailable / GDV launched Unit RM m Launched Projects up to 31 March 2024 - Industrial and commercial lands (60 acres) - 340 - Three storey shop 5 6 - Double storey house 116 101 - Three storey
Slide 32: Medium-to-Long Term Prospects
MEDIUM-TO-LONG TERM PROSPECTS • We plan to launch the first phase of our industrial park at Bandar Cemerlang for sales within the next three years. • We have submitted application for conversion of the newly acquired land totalling 109.855 acres within the vicinity of Bandar Cemerlang to residential
Slide 33: Strategies
crescendo STRATEGIES
Slide 34: Strategies
STRATEGIES • The Group will continue to focus on landed medium cost and affordable housing development. • Continue to sell substantially built and completed buildings to meet demand from customers preferring to buy substantially built/completed buildings. • Pre-built factories for rent to industrial
Slide 35: Business Outlook
BUSINESS OUTLOOK • The property market is expected to remain good in the next few years but the Group remains cautious on the potential challenges from the fast-changing market environment and fluctuations in building materials costs driven by currency depreciation and inflationary pressures. • The
Slide 36: Business Outlook (cont.)
BUSINESS OUTLOOK (CONT.) • Currently there are more than 300,000 Malaysians travelling across the Johor-Singapore Causeway daily. The 4.2 km Johor Bahru-Singapore Rapid Transport System (“RTS”) link will be the second rail link between Malaysia and Singapore upon its targeted completion date by end
Slide 37: Appendix
crescendo APPENDIX
Slide 38: Group's Performance for the Past 3 Years
GROUP’S PERFORMANCE FOR THE PAST 3 YEARS 2021 2022 2023 4Q2024* Revenue (RM’000) 222,898 217,120 215,718 341,345 Profit Before Tax (RM’000) 42,401 33,839 38,409 79,512 Profit After Tax (RM’000) 29,780 23,981 25,875 57,026 Margin - Profit Before Tax (%) 19.02 15.59 17.81 23.29 - Profit After Tax (%)
Slide 39: Analysis by Segments
ANALYSIS BY SEGMENTS REVENUE PROFIT Margin 2023 4Q2024* 2023 4Q2024* 2023 4Q2024* (RM’000) (RM’000) (RM’000) (RM’000) % % Property Development & Construction 137,574 237,694 48,539 81,226 35 34 Manufacturing & trading 52,516 63,640 2,786 2,348 5 4 Property investment 10,232 11,343 6,959 13,297 68 11
Slide 40: Revenue by Segment (FY2024)
REVENUE BY SEGMENT (FY2024) REVENUE Services and Others 12% Property Investment 3% Manufacturing and Trading 17% Property Development and Construction 68%
Slide 41: Results by Segment (FY2024)
RESULTS BY SEGMENT (FY2024) PROFIT (EBIT) Services and Others 1% Property Investment 14% Manufacturing and Trading 2% Property Development and Construction 83%
Slide 42: Dividend Payment Ratio (Times)
DIVIDEND PAYMENT RATIO (TIMES) 2021 2022 2023 4Q2024* Profit Attributable (RM’000) 26,801 21,524 24,525 56,669 Net Dividend Declared (RM’000) 16,765 11,177 13,971 50,295 Dividend (Sen) 6.0 4.0 5.0 18.0 Dividend Yield (%) 5.9 3.3 4.3 6.5 Dividend Pay-out (%) 62.6 51.9 57.0 88.8 Market Price (RM) 1.02
Slide 43: Group's Performance for the Past 5 Years
GROUP’S PERFORMANCE FOR THE PAST 5 YEARS Earnings Per Share 25 20 15 Sen 10 5 0 2020 2021 2022 2023 2024 EPS (Sen) 9 10 8 9 20 Financial Year
Slide 44: Group's Performance for the Past 5 Years (cont.)
GROUP’S PERFORMANCE FOR THE PAST 5 YEARS (CONT.) Revenue 400.00 350.00 300.00 250.00 RM'mil 200.00 150.00 100.00 50.00 0.00 2020 2021 2022 2023 2024 Revenue (RM'mil) 258.25 222.90 217.12 215.72 341.35 Financial Year
Slide 45: Group's Performance for the Past 5 Years (cont.)
GROUP’S PERFORMANCE FOR THE PAST 5 YEARS (CONT.) Profit Before Tax 90.00 80.00 70.00 60.00 RM'mil 50.00 40.00 30.00 20.00 10.00 0.00 2020 2021 2022 2023 2024 PBT (RM'mil) 50.13 42.40 33.84 38.41 79.51 Financial Year
Slide 46: Principal Activities
PRINCIPAL ACTIVITIES Business Activities Development Construction Division Services Division Investment Division Division Property Property Resort Building Concrete Education Management Investment Development Development Construction Products Services (future)
Slide 47: Group Structure as at 31 January 2024
GROUP STRUCTURE AS AT 31 JANUARY 2024
Slide 48: Corporate Fact Sheet
CORPORATE FACT SHEET Listed On: April 8, 1997 (Main Board) Issued Shares: 280.5 mil (31 March 2024) Market Capitalization as of 29 March 2024: RM849.9 mil (@RM3.03) Par Value Per Share: RM1.00 NTA/Share: RM3.51 (31 January 2024) Major Shareholders: Sharikat Kim Loong Sendirian Berhad (68.77%) (25 Ap
Slide 49: Corporate Fact Sheet (cont.)
CORPORATE FACT SHEET (CONT.) Corporate Address: 18th Floor, Public Bank Tower No. 19, Jalan Wong Ah Fook 80000 Johor Bahru Johor, Malaysia Telephone number: +607 224 8316 Fax: +607 223 2562 Website: www.crescendo.com.my
Slide 50: Thank You
crescendo THANK YOU
Crescendo Corporation Berhad — FY2024 Earnings Presentation on 6ix