Crescendo's Q2 net profit more than quadruples on data centre land sale

Crescendo Corporation Bhd reported a staggering increase in its net profit for the second quarter, more than quadrupling to RM70.6 million. This surge in profits was primarily driven by the sale of land to data centre developers in Kota Tinggi, Johor. Revenue for Q2 FY27 grew by 158%, reaching RM210.43 million, up from the previous year's Q2 earnings.

Crescendo plans to distribute a dividend of two sen per share, payable on November 12. The company's first-half revenue for the period from July 31, 2026, saw a 263% increase to RM519.3 million, alongside a nearly tenfold rise in net profit to RM206.3 million. Despite the challenging global environment due to geopolitical tensions, supply chain volatility, and rising construction costs, Crescendo remains optimistic about the property market in Johor.

This optimism stems from the enhanced connectivity between Johor Bahru and Singapore, achieved through the completion of the Rapid Transit System. Favorable low Overnight Policy Rates and government incentives are also expected to bolster demand for industrial properties in the region. Crescendo will closely monitor the market and take necessary actions to mitigate potential impacts on its operations, adopting a prudent approach by leveraging its strategic landbank to develop properties that meet market demands.