This article first appeared in The Edge Malaysia Weekly on August 17, 2026 - August 23, 2026

Johor-based PROPERTY developer Crescendo Corp Bhd (KL:CRESNDO) swept two awards at The Edge Malaysia Centurion Club Corporate Awards 2026, driven by aggressive land monetisation down south amid the regional data centre boom. The wins build on Crescendo’s back-to-back triumphs for Highest Returns to Shareholders Over Three Years across both the Centurion Club and The Edge Billion Ringgit Club platforms.

The two accolades it won this year were for Highest Growth In Profit After Tax Over Three Years and Highest Return on Equity Over Three Years, as the land deals sent its net profit to a record high of RM526.3 million in the financial year ended Jan 31, 2025 — more than nine times the RM56.7 million it recorded in FY2024, when its land monetisation drive began in earnest.

The massive earnings surge came from the completion of five land transactions involving 128.41 acres at Nusa Cemerlang Industrial Park in Gelang Patah for RM677.43 million. Net earnings stood at RM24.5 million in FY2023 and RM21.5 million in FY2022.

Crescendo’s earnings trajectory over this three-year period produced an outstanding compound annual growth rate (CAGR) of 190.2%, based on the Centurion Club awards methodology — far outpacing its peers — enabling it to win the profit after tax (PAT) growth award.

While FY2026 net profit normalised to RM92.3 million with the absence of large land sales, its earnings rebounded sharply in the first quarter of FY2027 to RM135.74 million from RM5.2 million a year earlier, driven by the disposal of another parcel of data centre-related land in Bandar Cemerlang Industrial Park (BCIP) in Johor.

As at June 23, 2026, the group still had four pending land disposals worth RM930.5 million, with the largest being the sale of a 49.72-acre land parcel in Kota Tinggi to Digital Edge Data Centers (Malaysia) Sdn Bhd for RM346.53 million, which is expected to yield an estimated gain of RM184.03 million.

The earnings surge during FY2023 to FY2025 from the high-margin land sales also caused a spike in Crescendo’s return on equity. Its ROE jumped to 44.1% in FY2025, from 5.94% in FY2024 and 2.66% in FY2023, lifting its three-year weighted ROE to 24.3%, based on the awards methodology.

During the period, Crescendo delivered a three-year shareholder return CAGR of 21.04%, as its share price (adjusted) rose to RM1.13 on March 31, 2026 — the cut-off date for this year’s awards — from 31.8 sen on March 31, 2023. The group undertook a three-for-one share split in September 2024.

After the record FY2025 earnings, the group paid a dividend per share of 10 sen for FY2025, followed by seven sen in FY2026 — comprising an interim dividend of one sen and a special dividend of six sen. The group said this was a balanced approach after taking into account its earnings profile and the need to preserve capital for ongoing and future development initiatives.

Crescendo remains bullish on Johor’s property market, citing the Johor-Singapore Special Economic Zone as a key catalyst for fresh investments and economic growth in the southern region. It also expects key infrastructure developments such as the Johor Bahru-Singapore Rapid Transit System Link to significantly enhance cross-border connectivity and commuter mobility.

With a substantial land bank of 2,426 acres left in Johor as at April 30, 2026, the group plans to further realise its land value. “With growing demand for digital infrastructure driven by cloud computing and connectivity needs, the group continues to pursue opportunities to strategically unlock value of its land bank,” management said in its 2026 annual report released in June.

It is also planning to launch landed properties in the southern state with a combined gross development value of RM252 million in the next year. These comprise 167 mid- to high-end residential units in Bandar Cemerlang, 18 semi-detached factories at BCIP and 24 affordable housing units in Taman Dato’ Chellam in Ulu Tiram.

Crescendo is led by chairman and managing director Gooi Seong Lim. The Gooi family, through Sharikat Kim Loong Sdn Bhd, holds a controlling 68.18% stake in Crescendo. The family also owns a 63.42% stake in plantation firm Kim Loong Resources Bhd (KL:KMLOONG).

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