Crescendo Corp Bhd expects a quantum jump in turnover and profit for the financial year ending Jan 31, 2007, with all its major projects expected to contribute to its bottom line by then.

Managing director Gooi Seong Lim said Crescendo was expecting 10% growth in after-tax profit and 20% boost in turnover for financial years 2005 and 2006.

Crescendo is currently undertaking mixed development projects on a total of 1,040 hectares. This is expected to keep the company busy for at least 20 years.

For the financial year ended Jan 31, 2004, the group recorded a after-tax profit of RM13mil and a revenue of RM60mil.

Gooi said a bulk of its growth for the coming years would be from the 400.4-ha Bandar Cemerlang township currently being developed.

''The township is 80% completed. We have another 20% of undeveloped land bank there,'' he said. ''Another major project is the 136.8-ha Nusa Cemerlang industrial park.

Its estimated total development cost is approximately RM625mil and expected to contribute RM250mil of profit over a period of 10 years,'' Gooi said after the group’s EGM in Petaling Jaya yesterday.

Other projects under the company include the 16-ha Taman Datuk Chalam and 556ha of mixed residential project near Ulu Tiram, which will take off some time this year. A potential 336ha of land bank in Kota Tinggi has been also earmarked for resort and mixed development.

All Crescendo projects are located in Johor Baru.

Gooi said the company would be concentrating on its projects and land bank in Johor for now as it was confident of the outlook for property development in the state.

He said Crescendo was also investing about RM3mil to build a ready mix concrete plant in Bandar Nusajaya by the end of this year.

Gooi said the company’s concrete manufacturing business had also grown in tandem with its development projects and that its products were sold to other developers.

The group is also involved in manufacture of concrete products, property investment and management as well as civil engineering. Property development contributes 60% to its revenue

Source : 7/1/2005