【CRESNDO 6718 交流专区】吉星机构

icy97

吉星
上半年销售达标

2016年10月1日

分析：肯纳格投行研究
目标价：1.60令吉

最新进展

投资资产合理价值提高，吉星（CRESNDO，6718，主板产业股）截至7月杪次季净利按年大增13.38倍，至4440万5000令吉，或每股净利15.89仙。

同季营业额受高产业销售激励，按年扬20.36%，录得4921万9000令吉。

累计首6个月，净利暴增294.42%至5086万4000令吉；营业额则写下9751万1000令吉，按年微扬0.91%。

行家建议

吉星首半年核心净利录得1350万令吉，符合预期，占我们全年预测的53%。

每股2仙的股息，也符合我们全年的4.4仙预测。

该公司上半年的销售目标达成1亿7000万令吉，已达到全年的销售目标。

我们维持2017财年的核心净利预测，并将2018财年的核心净利预测，调高8.7%至3160万令吉。

该公司中短期展持续不明亮，因旗下工业产业项目都集中在柔佛，并且对未来推介的项目，也持谨慎态度。



【e南洋】

icy97

产业销售佳
吉星第三季净利飙3.7倍

2016年12月30日
（吉隆坡29日讯）受惠于产业销售极佳，吉星（CRESNDO，6718，主板产业股）截至10月杪第三季报佳音，净利飙涨3.73倍，录得798万3000令吉，或每股净赚2.86仙；上财年同期为168万7000令吉净利。

该公司今天向马交所报备，同期营业额也大增98.27%，从上财年的3653万8000令吉，大涨至7244万5000令吉。

3季净利翻3倍

合计首9个月，净利同样暴增3.05倍至5884万7000令吉；营业额则取得1亿6995万6000令吉，按年扬27.62%。

当季和首9个月的税前盈利，分别按年增95%和10%，达1290万令吉和3170万令吉；产业销售则分别扬2.59倍和81%。

吉星表示，由于全球经济不明朗，银行信贷控制严谨，加上业务成本提升，因此，2017财年将备受挑战。

截至上周五（23日），该公司未入账营业额为1亿7100万令吉，相信能继续保持表现。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Oct 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Oct 2016	31 Oct 2015	31 Oct 2016	31 Oct 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	72,445	36,538	169,956	133,171
2	Profit/(loss) before tax	12,891	6,606	73,134	28,846
3	Profit/(loss) for the period	8,971	3,999	62,014	19,507
4	Profit/(loss) attributable to ordinary equity holders of the parent	7,983	1,687	58,847	14,518
5	Basic earnings/(loss) per share (Subunit)	2.86	0.74	21.06	6.38
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	2.00	2.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.2000		3.0400

icy97

吉星
两年销售预测上修

2016年12月31日

分析：肯纳格研究
目标价：1.68令吉

最新进展

吉星（CRESNDO，6718，主板产业股）截至10月杪第三季报佳音，净利增长3.73倍，录得798万3000令吉，或每股净利2.86仙；上财年同期为168万7000令吉净利。

行家建议

我们认为，吉星短至中期的前景将持续平淡，归咎于在工业房产的曝光率和集中在柔佛的项目。该公司未来将谨慎推出新楼盘。

最新业绩出炉后，我们将2017及2018财年的销售预测，上调至2.35亿和2.21亿令吉。

目前，吉星的未入账销售企于1.71亿令吉，可提供至少一年的净利能见度。

尽管表现稳健，但我们还是维持“跟随大市”，惟将目标价调高至1.68令吉。

这是因为公司有能力定位在可负担房屋发展商，即使市况疲弱，亦得到认真买家的购兴。

然而，该股仍以2018财年本益比10.1倍的水平交易，同行只有6倍本益比。

此外，吉星周息率仅有3.9%，不及同行的5.6%。



【e南洋】

icy97

Type	Announcement
Subject	OTHERS
Description	CRESCENDO CORPORATION BERHADCHANGE OF GROUP STRUCTURE
This announcement is in relation to the change of Group  Structure of Crescendo Corporation Berhad. Further details are set out in the attachment.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5354681

Attachments CCB - Change of Group Structure.pdf

icy97

吉星机构末季净利飙涨 归功于产业销售企高
By Syahirah Syed Jaafar / theedgemarkets.com   | March 30, 2017 : 7:25 PM MYT

（吉隆坡30日讯）吉星机构（Crescendo Corporation Bhd）2017财政年末季净利大涨逾三倍至1146万令吉，相比同期仅净赚317万令吉，归功于较高的产业销售。

2017财年末季（截至2017年1月31日止）的营业额按年增长38%至8440万令吉，同期报6140万令吉。

综合2017财年的业绩表现，吉星机构净利几乎翻了两番至7031万令吉，2016财年净赚1770万令吉；营业额也从2016财年的1亿9457万令吉，增长31%至2亿5436万令吉。

吉星机构今日通过大马交易所发布文告指出，鉴于经济环境艰巨，该集团在推出计划时也小心谨慎，避免持有太多存货。

无论如何，该集团仍预计，今年的表现令人满意。

吉星机构补充：“截至2017年3月24日止，产业发展业务手持的销售和未入账营业额达1亿5800万令吉。董事部预估，我们在截至2018年1月31日止的财年，也能维持令人满意的业绩表现。”

（编译：倪嫣鴽）

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jan 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jan 2017	31 Jan 2016	31 Jan 2017	31 Jan 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	84,403	61,399	254,359	194,570
2	Profit/(loss) before tax	8,080	7,524	81,214	36,370
3	Profit/(loss) for the period	12,227	4,455	74,241	23,962
4	Profit/(loss) attributable to ordinary equity holders of the parent	11,459	3,173	70,306	17,690
5	Basic earnings/(loss) per share (Subunit)	4.10	1.39	25.16	7.78
6	Proposed/Declared dividend per share (Subunit)	3.00	3.00	5.00	5.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.2600		3.0400

icy97

EX-date	09 Aug 2017
Entitlement date	11 Aug 2017
Entitlement time	04:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final single tier dividend of 3 sen per share in respect of the year ended 31 January 2017
Period of interest payment	to
Financial Year End	31 Jan 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Bursa Malaysia Depository Sdn Bhd2nd Floor,Exchange Square,Bukit Kewangan,50200 Kuala LumpurTel:603-20347751Fax:603-20263712
Payment date	29 Aug 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	11 Aug 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03
Par Value	Malaysian Ringgit (MYR) 0.000

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Apr 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Apr 2017	30 Apr 2016	30 Apr 2017	30 Apr 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	47,851	48,292	47,851	48,292
2	Profit/(loss) before tax	6,628	10,274	6,628	10,274
3	Profit/(loss) for the period	5,447	7,974	5,447	7,974
4	Profit/(loss) attributable to ordinary equity holders of the parent	4,362	6,459	4,362	6,459
5	Basic earnings/(loss) per share (Subunit)	1.56	2.31	1.56	2.31
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.2700		3.2600

icy97

吉星首季净利逊预期

2017年7月1日

分析：肯纳格投行
目标价：1.70令吉

最新进展：

由于低赚幅的住宅项目比重较高，吉星（CRESNDO，6718，主板产业股）截至4月杪首季，净利按年跌32%至436万2000令吉或，每股1.56仙。

同期营业额，则按年微减1%至4785万1000令吉。

行家建议：

吉星净利表现低于预期，仅占我们全年预测的13%。

虽然管理层没有透露首季销售额，但预计约5400万令吉，估计可达到2亿2100万令吉的全年目标。

该公司计划在Bandar Cemerlang、Tanjung Senibong和Taman Dato’ Chellam，推出881单位可负担房屋，还会在Bandar Cemerlang推介268单位中级有地住宅和36单位店面，发展总值为3亿令吉。

未入账销售为1亿8000万令吉，可提供一年的盈利。

降低赚幅预测后，我们下修2018及2019财年净利9%，但维持“跟随大市”评级与1.70目标价。

尽管产业市场依然面临挑战，尤其是柔佛州，但吉星的可负担房屋发展商定位，吸引许多买家购买合理价格的有地产业。

吉星的本益比几乎与一些大型发展商一致，因此，该公司必须提高盈利水平，评级才有机会上修。



【e南洋】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jul 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jul 2017	31 Jul 2016	31 Jul 2017	31 Jul 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	86,938	49,219	134,789	97,511
2	Profit/(loss) before tax	24,874	49,969	31,502	60,243
3	Profit/(loss) for the period	18,342	45,069	23,789	53,043
4	Profit/(loss) attributable to ordinary equity holders of the parent	17,957	44,405	22,319	50,864
5	Basic earnings/(loss) per share (Subunit)	6.43	15.89	7.99	18.20
6	Proposed/Declared dividend per share (Subunit)	3.00	2.00	3.00	2.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.3000		3.2600

icy97

EX-date	27 Oct 2017
Entitlement date	31 Oct 2017
Entitlement time	04:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Interim single tier dividend of 3 sen in respect of the year ending 31 January 2018
Period of interest payment	to
Financial Year End	31 Jan 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Bursa Malaysia Depository Sdn Bhd2nd Floor,Exchange Square,Bukit Kewangan,50200 Kuala LumpurTel:603-20347751Fax:603-20263712
Payment date	21 Nov 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	31 Oct 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03

icy97

吉星
赚幅高财测上修

2017年9月30日

分析:肯纳格投行
目标价:1.70令吉

最新进展:

吉星（CRESNDO，6718，主板产业股）截至7月杪次季，净利按年大跌59.6%，报1795万7000令吉或6.43仙，但仍宣布派息每股3仙。

营业额按年大增76.6%，报8693万8000令吉。

累计首半年，净利按年跌56%至2231万9000令吉；营业额达1亿3478万9000令吉，年增38%。

行家建议:

受到工业产业销售赚幅推动，吉星首半年核心净利录得2230万令吉，表现佳于预期，占我们全年预测的73%。

此外，首半年产业销售达1亿2500万令吉，正迈向全年预测2亿2100万令吉的目标。

展望未来，吉星计划在柔佛光辉工业花园、Bandar Cemerlang、Taman Desa Cemerlang和Tanjung Senibong推出项目，发展总值超过3亿令吉，项目涵盖集群工厂、有地住宅、店面，以及可负担房屋。

考量到该公司工业和商业住宅项目的较高混合组合，预计产业发展业务的赚幅走高，上调2018和2019财年核心净利预测，分别扬39%和41%。

因此，我们上调吉星的评级至“超越大市”；根据吉星6.32令吉每股全面稀释重估净资产价值（FD RNAV）折价73%计算，得出1.70令吉的目标价。



【e南洋】

icy97

吉星第三季净利增29%

2017年12月24日
（吉隆坡23日讯）产业发展与建筑，以及教育、管理服务和其他业务营运表现佳，带动吉星（CRESNDO，6718，主板产业股）截至10月31日第三季净利按年增加28.56%。

该集团净赚1026万3000令吉或每股3.67仙，上财年同季则达798万3000令吉或2.86仙；但营业额却按年下跌1.75%，达7117万4000令吉。

合计首九个月，净利按年锐减44.63%，达3258万2000令吉或每股11.66仙，归咎于上财年有一笔调整后投资产业合理价收益入账。

产业销量增加，带动营业额升21.19%，达2亿596万令吉。

截至12月15日，产业发展业务的未入账销售达1亿6840万令吉。董事部预计，集团截至2018年1月31日财年将交出令人满意的表现。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Oct 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Oct 2017	31 Oct 2016	31 Oct 2017	31 Oct 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	71,174	72,445	205,963	169,956
2	Profit/(loss) before tax	14,450	12,891	45,952	73,134
3	Profit/(loss) for the period	10,967	8,971	34,756	62,014
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,263	7,983	32,582	58,847
5	Basic earnings/(loss) per share (Subunit)	3.67	2.86	11.66	21.06
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	3.00	2.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.3100		3.2600

icy97

吉星
拟柔推3亿项目

2017年12月27日

分析:肯纳格投行
目标价：1.55令吉

最新进展

吉星（CRESNDO，6718，主板产业股）截至10月31日第三季，净利年增28.56%至1026万3000令吉或每股3.67仙，归功于产业发展与建筑，以及教育、管理服务和其他业务营运表现佳。

但营业额按年下跌1.75%至7117万4000令吉。

合计九个月，净利减44.63%，报3258万2000令吉；营业额升21.19%，达2亿596万令吉。

行家建议

吉星首九个月核心净利录得3260万令吉，符合我们全年预测的77%，

同时，该公司首九个月产业销售额达1亿5440万令吉，也正迈向我们全年2亿2100万令吉的目标。

展望未来，吉星计划在柔佛光辉工业花园、Bandar Cemerlang、Taman Desa Cemerlang和Tanjung Senibong推出项目，发展总值超过3亿令吉，包括推出24单位集群工厂、102单位有地住宅、54单位店铺办公楼，以及426单位可负担房屋。

未入账销售为1亿6840万令吉，足够忙碌至少一年。

考虑到该公司的销售表现杰出、工业产品销售混合良好，以及盈利能力改善，我们维持“超越大市”评级，但稍微调低目标价至1.55令吉。



【e南洋】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jan 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jan 2018	31 Jan 2017	31 Jan 2018	31 Jan 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	71,255	84,403	277,218	254,359
2	Profit/(loss) before tax	5,009	7,997	50,961	81,131
3	Profit/(loss) for the period	2,715	12,230	37,471	74,244
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,365	11,442	34,947	70,289
5	Basic earnings/(loss) per share (Subunit)	0.85	4.09	12.51	25.15
6	Proposed/Declared dividend per share (Subunit)	3.00	3.00	6.00	5.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.3000		3.2600

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EX-date	08 Aug 2018
Entitlement date	10 Aug 2018
Entitlement time	05:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final single tier dividend of 3 sen per share in respect of the year ended 31 January, 2018
Period of interest payment	to
Financial Year End	31 Jan 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Bursa Malaysia Depository Sdn Bhd2nd Floor,Exchange Square,Bukit Kewangan,50200 Kuala LumpurTel:603-20347751Fax:603-20263712
Payment date	29 Aug 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	10 Aug 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03

icy97

Type	Announcement
Subject	OTHERS
Description	CRESCENDO CORPORATION BERHAD ("CCB")REVALUATION OF NON-CURRENT ASSETS OF THE GROUP
Pursuant to Paragraph 9.19 (46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad , the Board of Directors of CCB ("the Board") wishes to announce that the Board had approved the incorporation of the revaluation surplus, net of deferred tax, of approximately RM521,000 in the consolidated financial statements of CCB for the financial year ended 31 January 2018. Further details are set out in the attachment.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5792561

Attachments Announcement re Revaluation of Non-current assets -FY 2018.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Apr 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Apr 2018	30 Apr 2017	30 Apr 2018	30 Apr 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	54,452	47,851	54,452	47,851
2	Profit/(loss) before tax	4,441	5,946	4,441	5,946
3	Profit/(loss) for the period	6,020	4,857	6,020	4,857
4	Profit/(loss) attributable to ordinary equity holders of the parent	3,240	3,772	3,240	3,772
5	Basic earnings/(loss) per share (Subunit)	1.16	1.35	1.16	1.35
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.1400		3.1300

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Jul 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jul 2018	31 Jul 2017	31 Jul 2018	31 Jul 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	94,913	86,938	149,365	134,789
2	Profit/(loss) before tax	16,657	24,192	21,098	30,138
3	Profit/(loss) for the period	11,229	17,752	17,249	22,609
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,991	17,367	14,231	21,139
5	Basic earnings/(loss) per share (Subunit)	3.93	6.22	5.09	7.57
6	Proposed/Declared dividend per share (Subunit)	3.00	3.00	3.00	3.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.1600		3.1300

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EX-date	29 Oct 2018
Entitlement date	31 Oct 2018
Entitlement time	05:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Interim single tier dividend of 3 sen per share in respect of the year ending 31 January 2019
Period of interest payment	to
Financial Year End	31 Jan 2019
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Bursa Malaysia Depository Sdn Bhd2nd Floor,Exchange Square,Bukit Kewangan,50200 Kuala LumpurTel:603-20347751Fax:603-20263712
Payment date	22 Nov 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	31 Oct 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03

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