Crescendo's Q2 net profits more than quadrupled on data centre land sale
KUALA LUMPUR: Crescendo Corporation Bhd recorded RM70.6 million net profits for the second quarter ended July 31, 2026 (Q2 FY27), more than four times the level in the same quarter last year, boosted by the land sales to data centre developers in Kota Tinggi, Johor.
Crescendo Corporation Bhd reported a remarkable increase in net profits for the second quarter of FY27, with profits soaring to RM70.6 million, more than quadrupling from the previous year's Q2. The surge in profits was largely attributed to the sale of land to data centre developers in Kota Tinggi, Johor. Revenue also increased significantly, reaching RM210.43 million in Q2 FY27, up 158% compared to the same period last year, as per Bursa Malaysia filings.
The dividend payout for the quarter was set at two sen per share, payable on November 12. The company's first-half revenue for the period ending July 31, 2026, saw a 263% rise to RM519.3 million due to the land sale. Despite ongoing geopolitical tensions, supply chain volatility, rising construction costs, and other challenges, Crescendo remains optimistic about the property market in Johor.
The improved cross-border connectivity between Johor Bahru and Singapore, coupled with the completion of the Rapid Transit System, is expected to bolster the local market. Favorable low interest rates and government initiatives, along with foreign direct investment inflows, are projected to sustain demand for industrial properties.
Crescendo will closely monitor the market and take necessary measures to mitigate any potential impacts on operations.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
