Data centre land sale drives twentyfold profit jump at Crescendo; YLI makes property pivot

Data centre land sale at Bandar Cemerlang lifts Crescendo's first-quarter profit, as Johor's industrial land keeps monetising

Crescendo Corp Bhd reported a jump in first-quarter earnings after recognising a data centre land sale at Bandar Cemerlang Industrial Park (BCIP) in Johor, the group said in a Bursa Malaysia filing yesterday. For the quarter ended April 30, 2026 (1QFY2027), group revenue rose to RM317.87 million from RM65.06 million a year earlier, while profit before tax rose to RM182.03 million from RM10.63 million.

Profit attributable to owners climbed to RM135.74 million from RM5.21 million in the corresponding quarter, lifting basic earnings per share to 16.07 sen from 0.62 sen. The property development and construction division remained the main contributor, with revenue of RM290.17 million and operating profit of RM174.62 million. The group did not declare a dividend for the quarter, having paid a special six sen single-tier dividend for FY2026 on February 10.

As at April 30, total assets stood at RM2.13 billion and net assets per share rose to RM1.83 from RM1.67, while the group's landbank, including land under development, totalled about 2,426 acres across Bandar Cemerlang, BCIP, Nusa Cemerlang Industrial Park and other locations in Johor. The board pointed to the Johor–Singapore Special Economic Zone and the RTS Link as demand supports, and plans to launch 167 landed homes, 18 semi-detached factories and 24 RMMJ Type B homes over the next year with a gross development value of about RM252 million. The scale of the one-off gain illustrates how industrial and data centre-related land transactions can materially influence developer earnings in Johor, against the backdrop of infrastructure and economic initiatives such as the Johor–Singapore Special Economic Zone and the RTS Link.

YLI taps asset-light property entry with RM28 mil Puncak Alam joint venture

YLI Holdings Bhd is entering property development for the first time, through a joint development on a 10.963-acre vacant parcel in Bandar Puncak Alam, Selangor, the company said in a Bursa Malaysia filing yesterday. Its wholly owned subsidiary Yew Lean Industries Sdn Bhd has signed a joint development agreement with landowner Puncak Alam Housing Sdn Bhd for the site along Persiaran Puncak Alam 3.

The landowner's entitlement is set at RM28 million, matching an independent market valuation by HASB Consultants, and will be paid in five stages running from RM2.5 million on execution to a final RM9 million by the 36th month or on completion. Beyond that entitlement, the subsidiary is entitled to all proceeds from the development, and YLI will provide a corporate guarantee for the sum. The parcel is held on a 99-year lease and is currently vacant.

The project's name, gross development value and development cost are still to be determined, and completion is expected within about 36 months of the agreement. YLI said the arrangement lets it diversify into property and broaden its earnings without an outright land purchase, while facilitating a strategic shift away from its manufacturing, trading and construction activities. Structuring the entry as a joint development rather than a purchase may reduce upfront capital commitments and provide YLI with an asset-light entry into property development.

Malaysia targets 100,000 year-end housing goal as home loan guarantees top 93,000

A total of 93,555 individuals have benefited from the Housing Credit Guarantee Scheme (SJKP) to date, Housing and Local Government Minister Nga Kor Ming said in Port Dickson yesterday, helping first-time buyers secure financing for their homes.

The government has allocated RM40 billion under the scheme, of which about RM18 billion remains available, with loans approved by 17 financial institutions and guaranteed by the government.

First homes valued at not more than RM500,000 are eligible, and the scheme extends to gig economy workers such as e-hailing drivers and food delivery riders who often lack conventional payslips. Nga said he was confident the scheme would reach its target of 100,000 first-time homebuyers by year-end. He was speaking after an offer letter presentation and unit balloting ceremony for the Ladang Tanah Merah People's Housing Programme, officiated by Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun. The guarantee is aimed at buyers who may face difficulties accessing conventional housing financing, particularly among self-employed and gig-economy segments.

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Crescendo Corp's first-quarter profit jumped more than twentyfold to RM135.74 million on a Bandar Cemerlang data centre land sale, while YLI Holdings made its first move into property development through a RM28 million joint venture in Puncak Alam. The Housing Credit Guarantee Scheme has now helped 93,555 first-time buyers, with a 100,000 year-end target. In brief, Matrix Concepts marked its 30th anniversary with a RM30 million rewards campaign, AFFIN Bank and IKEA signed an MOU on homeowner financing and furnishing, TAFI Industries advanced a RM23.5 million Muar factory disposal, Chin Hin-linked listed entities announced board changes, Juwai IQI said the Johor polls would have limited property impact, and Bina Puri won 75 percent lender backing for its debt restructuring. The window covers yesterday through this morning, July 1.