Crescendo - Potential Beneficiary of Data Center, JB-Singapore RTS (Update)

 Crescendo - Potential Beneficiary of Data Center, JB-Singapore RTS (Update)

Wrote about Crescendo - Potential Beneficiary of Data Center, JB-Singapore RTS on 12 December 2023 when the share price was RM1.98. Share price closed at a recent high of RM3.03 last Friday.

https://bursastocktalk.blogspot.com/2023/12/cresndo-potential-beneficiary-of-data.html

Highlighted the potential special dividend on 14 February 2024. The company declared a special dividend of 13sen on 27 March 2024. Share price gapped up and closed at a recent high of RM3.03 the next day.
https://www.facebook.com/photo?fbid=893958872733568&set=a.391566119639515

Another positive development was shared in the 4QFY24 results announcement.

3QFY24 results note:
"The Group also plans to launch 1,200 units of serviced apartments which are located within the vicinity of the RTS terminal at Bukit Chagar with a total GDV of approximately RM900 million in FY2025."

4QFY24 results note:
The Group also plans to launch 1,200 units of serviced apartments which are located within the vicinity of the RTS terminal at Bukit Chagar with a total GDV of approximately RM1 billion in second half of FY2025.
The estimated GDV for the serviced apartments near RTS terminal has been revised upwards from about RM900m 3 months ago to RM1b.

According to analyst, the selling price psf in JB has surged to at least RM1600. (“新山新推出的项目，可以看到售价走高到至少每平方尺1600令吉，超越大部分吉隆坡和槟城地区。”Translation: "New projects launched in Johor Bahru are seeing selling prices climb to at least RM1600 per square foot, surpassing most areas in Kuala Lumpur and Penang")
https://www.klsescreener.com/v2/news/view/1298399

Will we see higher projected GDV for the project when Crescendo launches it later this year?

Note: The land acquisition has yet to be completed and the conditional period for the land acquisition has been extended to 11 May, 2024.

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http://bursastocktalk.blogspot.com/2024/04/crescendo-potential-beneficiary-of-data.html