corporate profile - crescendocrescendo.com.my/crescendo.pdfunibase concrete industries sdn bhd...

(359750-D)(359750-D)

Corporate ProfileCorporate Profile

21 November 200921 November 2009

2

Introduction to Crescendo Corporation BerhadIntroduction to Crescendo Corporation Berhad (“CCB”) Group(“CCB”) Group

CCB is listed on the Main Board of Bursa Malaysia Securities Bhd with a market capitalisation and shareholders’ fund of RM169 million and RM398 million respectively.

CCB Group is primarily involved in property development and construction related activities in Johor since 1989.

3

PRINCIPAL ACTIVITIESPRINCIPAL ACTIVITIES

Business Activities

Property Division Construction Division Others

Property Development

Resort Development (future)

Building Construction

Civil Engineering

Concrete Products

Education Property investment & Management Services

4

GROUP STRUCTURE AS AT 31 October 2009GROUP STRUCTURE AS AT 31 October 2009

100%

Unibase Construction

Sdn Bhd (22898-A)

70%

Panoramic Jaya Sdn Bhd

(651964-D)

100%

Crescendo Development

Sdn Bhd (204079-D)

100%

Ambok Resorts

Development Sdn Bhd

(329538-M)

60% Unibase Concrete Industries Sdn Bhd

(380745-A)

100%

Unibase Corporation

Sdn Bhd (343826-P)

70%

Repute Ventures

Sdn Bhd (392908-V)

100%

Unibase Jaya Sdn Bhd

(388414-H)

100%

Unibase Trading Sdn Bhd

(456217-U)

86%

Repute Construction

Sdn Bhd (456224-P)

70%

Crescendo Land

Sdn Bhd (611503-M)

70%

Crescendo Jaya Sdn Bhd

(603468-X)

100%

Crescendo Education

Sdn Bhd (472850-T)

60%

Crescendo International

College Sdn Bhd

(362221-T)

100% Crescendo

Creative Education Sdn Bhd

(687412-V)

Crescendo Corporation Berhad (359750-D)

100% Panoramic Industrial

Development Sdn Bhd

(148382-K)

100%

Repute Corporation

Sdn Bhd (564792-D)

100%Panoramic

Land Sdn Bhd

(626926-T)

100% Crescendo Commercial

Complex Sdn Bhd

(414716-A)

70% Unibase

Pre-Cast Sdn Bhd

(791633-H)

5

Group’s Performance for the Past 3 YearsGroup’s Performance for the Past 3 Years

0.38

7.3%

11.2%

7.8%

3.7

20.3

392,495

155,071

17

22

33,985

44,030

203,020

2009

0.36

2.5%

3.7%

2.6%

N/A

6.65

397,728

155,071

13.90

18.76

11,004

14,844

79,143

*2Q 2010

0.31

6.3%

9.2%

5.4%

8.1

15.0

350,732

155,068

19

26

23,805

32,233

124,707

2008

5.7%Return on Total Assets (Pre-tax)

7.9%Return on Shareholders’ equity (Pre-tax)

0.22

5.8%

7.7

13.4

319,440

143,793

25

34

18,552

25,121

74,089

2007

Earning Per Share (sen)

PE Ratio (times)

Return on Capital Employed

- Profit After Tax (%)

Shareholders’ fund (RM’000)

Gearing (times)

Share Capital (RM’000)

Margin - Profit Before Tax (%)

Profit After Tax (RM’000)

Profit Before Tax (RM’000)

Revenue (RM’000)

Note:

* Based on unaudited 6 months results ended 31 July 2009

6

Dividend Payment Ratio (Times)Dividend Payment Ratio (Times)

**3,4899,6588,0947,554Net Dividend Declared (RM’000)

2.53

0.75

30.8

9.3

7.0

31,317

2009

2.56

0.99

34.0

3.0

3.0

10,264

*2Q 2010

2.26

1.22

35.4

5.7

7.0

22,866

2008

2.22

1.00

41.1

7.0

7.0

18,366

2007

Dividend Pay-out (%)

NTA (RM)

Market Price (RM)

Dividend Yield (%)

Dividend (Sen)

Profit Attributable (RM’000)

•Based on unaudited 6 months results ended 31 July 2009. •** An interim dividend of 3 sen less tax, based on paid up capital as at 31 July 2009.

(Source: For 2007, 2008 & 2009, the market price is based on The Star as at 31 January 2007, 31 January 2008 and 31 January 2009 respectively.)

7

Analysis by SegmentsAnalysis by Segments

14,844

(1,764)

(905)

146

(54)

3,518

583

13,320

(RM’000)

*2Q 2010

44,030

(1,562)

(2,315)

(764)

(3,147)

6,794

6,638

38,386

(RM’000)

2009

PROFIT MarginREVENUE

22

52

9

18

%

2009

18

62

2

24

%

*2Q 2010

79,143

(6,743)

5,647

24,349

55,890

(RM’000)

*2Q 2010

Finance cost

203,020

(98,321)

13,003

72,944

215,394

(RM’000)

2009

Less: Inter-segment eliminations

Unallocated income/ (loss)

Unallocated expenses

Management services & others

TOTAL

Manufacturing & trading

Property Development & Construction

Note:

* Based on unaudited 6 months results ended 31 July 2009

8

Results by Segment (FY2009)Results by Segment (FY2009)

Property Development &

Construction72%

Management services and

others4%

Manufacture of concrete products

24%

REVENUE

9

Results by Segment (FY2009)Results by Segment (FY2009)

Property Development

& Construction74%

Management services and

others13%Manufacture of

concrete products

13%

PROFIT (EBIT)

10

Development LandbankDevelopment Landbank

(i) Final conversion and subdivision approval(ii) Out of which 165 acres were acquired and the balance with development right with option to purchase. (iii) Development right through the Privatisation Agreement.* Land within the boundary of Iskandar Malaysia (formerly known as Iskandar Development Region) is approximately 1,773 acres.

Project /Taman Distance Status Type of Developmentfrom JB Development Land

(Acres)* Taman Perindustrian 16km Approved Industrial/ 156

Cemerlang Comm ercial

* Desa Cemerlang 16km Approved Res idential/ 127 Comm ercial

Bandar Cem erlang 20km* - Tebrau, Johor Bahru Approved (i) Mixed 864 - Kota Tinggi Approved (i) Mixed 526

* Taman Tiram Jaya 20km Approved Res idential 10

Ambok 67km Pending finalisation Resorts / 794 of layout plan Mixed

* Taman Dato Chellam 18km Approved Res idential/ 42 Comm ercial

* Nusa Cemerlang 30km Approved (ii) Industrial 352 Industrial Park

* CLSB Land 18km Approved (iii) Mixed 222

Total development land as at 31 July 2009 3,093

11

PROPERTY DEVELOPMENTPROPERTY DEVELOPMENT

12

Location of LandbankLocation of Landbank

CLSB Land

13

Location of LandbankLocation of Landbank

CLSB Land

14

Nusa Cemerlang Industrial Park (NCIP)Nusa Cemerlang Industrial Park (NCIP)

527 acres of gross industrial development land forming part of Bandar Nusajaya has been approved for development of approximately 353 units of factories.

NCIP will be developed into an industrial park. Main infrastructures such as rail, port and major highway are all in place nearby.

The Iskandar Regional Development Authority (“IRDA”) will spearhead massive new development in South-Western Johor into a major commercial, residential and industrial hub.

15

Nusa Cemerlang Industrial Park (NCIP) (Cont.)Nusa Cemerlang Industrial Park (NCIP) (Cont.)

To date 99 units of detached and semi-detached factories with Gross Development Value of RM231 million have been launched.

63 units of detached and semi-detached factories with Gross Development Value of RM174 million have been sold to date.

16

Competitive Advantages of NCIPCompetitive Advantages of NCIP

Foreign investors and industrialists, especially those from Singapore, will be interested to invest in the cheap freehold medium industrial properties of NCIP in view of its proximity to Singapore which is merely 10 minutes drive from Tuas Singapore through the 2nd Link. Also, compared to light industrial land, medium industrial land at NCIP can accommodate a broader range of manufacturing industries.

Top management of Singaporean industrialists who set up factories at NCIP will also have easier and more efficient control over their manufacturing operations.

17

Competitive Advantages of NCIP (Cont.)Competitive Advantages of NCIP (Cont.)

Skilled and unskilled workers are available from nearby housing estates and the established townships close to NCIP. Liberal immigration policy allows expatriate positions where there is a shortage of trained Malaysians to fill the required posts.

Enhanced security features with only 2 entrances which are guarded and a wide perimeter main drain surrounding NCIP will effectively deter trespassers and provides security.

18


NCIP is close to Tanjung Pelepas Port and easily accessible to Pasir Gudang Port, Tanjung Langsat Port and Jurong Port. It is also close to Singapore Changi International Airport and Changi Airport and there is easy access through Second Link to Customs, Immigration and Quarantine Complex (CIQ). It is next to Gelang Patah Interchange that links to all national highways. With good connectivity, a lot of time can be saved in the transportation of raw materials and manufactured products.

19


Water Supply6.2 million liters per day water of WHO standards with a 25 million liters concrete storage reservoir upgradeable to 50 million liters.

Power Supply24-hour electricity supply available from TNB with transmission voltages of 500kV, 275kV, 132kV, 66kV and distribution voltages at 33kV, 22kV, 11kV, 6.6kV, 0.415kV.

20


TelecommunicationNCIP area is serviced by Telekom Malaysia (TM) and Time Dotcom Bhd through a network of fibre optic cables.

Telekom Malaysia (TM) nation-wide network ensures extensive international connectivity bringing the convenience of communication technology to industries.

Waste DisposalNCIP is connected to the existing 50,000 PE central sewerage treatment plant which is upgradeable to 150,000 PE.

21

Location Plan of NCIPLocation Plan of NCIP

22

Layout Plan of NCIPLayout Plan of NCIP

23

Industrialists at NCIPIndustrialists at NCIP

BritainPets food manufacturing

SingaporeElectrical components

MalaysiaBio-tech

USARubber manufacturer

MalaysiaOil & gas equipment manufacturer

SingaporeMachinery

MalaysiaCorrugated packaging

MalaysiaMetal stamping

Malaysia, GermanyMetal plating

Malaysia, Germany Engineering

GermanyPrinting

MalaysiaGypsum board

KoreaCan manufacturer

MalaysiaGarment

MalaysiaConfectionery

SingaporeAir conditioner

SingaporeFood

SingaporeInjection molding

Country of originIndustry*

*Type of Industries operating at NCIP as at 31 July 2009

24

Industrialists at NCIP (Cont.)Industrialists at NCIP (Cont.)

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26


27


28


29


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Design Features of NCIPDesign Features of NCIP

Aluminium Composite Panel & High Reflective Glass to the front facade Upmarket facade - projection of good

corporate image

Eave Height of 9 meters for Detached Factories & 8 meters for Semi-Detached Factories 0.5mm Metal Roofing with Rock wool insulation

NCIP factories are designed and built to meet the high expectation of the buyers. As such, several features are incorporated into the design such as:-

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Design Features of NCIP (Cont.)Design Features of NCIP (Cont.)

Floor Hardener to the production area Detached Factory with built-in TNB Sub-Station

Detached Factory surrounded with Concrete Driveway

Wide access road

32

Bandar Cemerlang (BC) Bandar Cemerlang (BC)

1,390 acres of landbank near Ulu Tiram to be developed into a self-contained new township of residential/commercial development.

We expect to commence construction of infrastructure and earthwork in 4th quarter FY2010. Such earthworks are to be completed in 15 months time.

Phases 1 & 2 to commence in FY2013.

Estimated to generate RM2.5 billion of revenue over 12-15 years.

33

Layout Plan of BCLayout Plan of BC

34

Taman Perindustrian Cemerlang (TPC)Taman Perindustrian Cemerlang (TPC)

16km from Johor Bahru, 30km from Senai Airport and 16km from Singapore.

Among the largest industrial parks in Johor.

A 600 acres industrial park which is expected to house some 900 factories once fully developed.

To date have completed 764 industrial units worth RM733million.

35

Desa Cemerlang (DC)Desa Cemerlang (DC)

Located next to TPC.

Self-contained township containing some 6,900 units of mixed development.

To date, have completed 4,584 units worth RM533 million.

36

Layout Plan of DC & TPCLayout Plan of DC & TPC

37

CLSB LandCLSB Land

A mixed development of residential and commercial premises on 221.58 acres of land.

Main access and reclamation works will commence soon and is expected to complete before the end of FY2011.

Comprises 2,413 units of residential properties, 290 units of shop offices and approximately 50 acres of commercial land.

The land is a water front project located in a prime location within Iskandar Malaysia and very near Johor Bahru.

The new highway from Johor Bahru to Pasir Gudang through CLSB under 9th Malaysian Plan will shorten the traveling time from city centre to CLSB land significantly. The distance of approximately 18km from JB to CLSB Land will take 20 minutes.

38

Layout Plan of CLSB LandLayout Plan of CLSB Land

39

Taman Dato’ Chellam (TDC)Taman Dato’ Chellam (TDC)

37.6 acres of mixed development land acquired on 12 May 2004.

Located opposite to TPC and DC.

Ready for immediate development which will certainly enhance earning capacity of the Group.

This project is expected to generate about RM120 million in revenue over a period of 5 to 6 years.

34 units of double storey terrace house & shop office with Gross Development Value of RM11.3 million have been sold to date.

40

Layout Plan of TDCLayout Plan of TDC

41

Location Plan of Ambok ResortsLocation Plan of Ambok Resorts

This land has been zoned for mixed development and it is possible to start developing this land in 10 years’ time into a retirement homes cum mixed development project.

42

Concrete ManufacturingConcrete Manufacturing

43

Concrete ManufacturingConcrete Manufacturing

Contributed 24% of group revenue and 13% of EBIT respectively in FY2009. We expect a positive contribution in revenue and profit from this segment for FY2010 in view of the new infrastructure projects in Iskandar Malaysia area.

Operates 2 ready-mixed concrete plants with a total capacity of 140 cubic m/hr. These 2 plants also manufacture ‘u’ drains, concrete pipes/culverts, piles and other precast concrete products for the export market.

Concrete plant and other concrete products cater for both in-house and external needs. Sales to external parties is approximately 91% or RM50.9 million in FY2009.

The contract sum of projects undertaken during this year is about RM10 million. Potential projects under negotiation total about RM32.5 million.

44

CONSTRUCTIONCONSTRUCTION

45

Construction ActivitiesConstruction Activities

Undertaken by Unibase group, which commenced activities in August 1989.

Contributed 30% of group revenue and 9% of group EBIT in FY2009.

Undertakes both in-house and external contracts, with external contracts under Repute Construction Sdn. Bhd.

The contract sum of projects undertaken during this year is about RM20 million. Potential projects under negotiation total about RM18 million.

46

STRENGTHSSTRENGTHS

47

Established brand name We have established our brand name in Johor property market. Good response for our products. Value added features like better landscaping, gated community,

etc. Main developer of integrated industrial park in Johor.

Sufficient and strategically located landbank Total gross development land of approximately 3,093 acres

(inclusive of development rights over 187 acres of gross industrial land) will keep CCB Group busy until the next decade.

StrengthsStrengths

48

Sufficient and strategically located landbank (Cont.) Located in close proximity to Singapore, Johor Bahru, Pasir

Gudang and Senai Airport, the land banks currently under development are within the boundary of Iskandar Malaysia which will benefit from the Government’s proposed development expenditure of RM12.2 billion under the 9th

Malaysia Plan.

Due to the close proximity of NCIP to Tuas in Singapore, it is anticipated that there will be significant relocation of Singapore industrialists to NCIP to take advantage of the lower land cost , lower operating, utilities charges and capital expenditure. Such close proximity to Singapore will also facilitate the management of the operation by the Singapore industrialists after the relocation.

Strengths (Cont.)Strengths (Cont.)

49

Integrated operation The residential, commercial and industrial lots are competitively

priced since the construction is undertaken by in-house construction companies. Consequently there have been repeated sales through introduction of new buyers by existing customers.

Capable Management Top management has almost 30 years’ experience in property

and construction industry and is quick to identify and capitalize on opportunities and trends in the property market as well as identify commercially viable projects for diversification.


50

Financial Strength

Healthy balance sheet: net gearing at only 0.36x.

The strong financial position of CCB Group allows for pre-purchase of building materials and pre-building of properties to mitigate the impact of rising building material prices on development costs. This will result in better profit margins for the Group.


51

COMPETITIVE COMPETITIVE ADVANTAGESADVANTAGES

52

Competitive AdvantagesCompetitive Advantages

Iskandar Malaysia covers 2,217 square kilometers of land in South Johor and is the key engine of growth identified under the 9MP.

Iskandar Malaysia has attracted US$11.96 billion of investments in the last 24 months and has almost achieved its US$13 billion overall foreign direct investment target for the phase ending in 2010. As the government had provided adequate world class infrastructures to woo more foreign investors to invest in the area, we are optimistic of the success of Iskandar Malaysia.

There are large foreign direct investments into this region especially those from Singapore, in view of the spiraling property prices in Singapore and to take advantage of the various Iskandar Malaysia incentives.

53

Competitive Advantages (Cont.)Competitive Advantages (Cont.)

Malaysian property remains one of the cheapest in the region - The availability of contiguous and sizeable land in Malaysia

gives Malaysia a competitive cost advantage in terms of land prices.

Competitive utilities and manpower cost- The utilities and manpower cost of Malaysia is among the

cheapest in the region.

Proposed tax incentive (Budget 2009)- The employment income of a Malaysian and foreign

knowledge worker residing in Iskandar Malaysia is to be taxed at 15% indefinitely.

54


Potential Appreciation of Land Value - Initiatives by Johor State Government/ Khazanah to attract international property developers, operators and investors to invest in the property in Iskandar Malaysia will lead to a big jump in property values, especially land with international development potential.

- Due to the close proximity of NCIP to Tuas in Singapore, it is anticipated that there will be significant relocation of Singapore

industrialists to NCIP to take advantage of the lower land cost, lower operating cost, utilities charges and capital expenditure.

- Such close proximity to Singapore will also facilitate the management of the operation by the Singaporean industrialists after the

relocation.

55


Synergistic and Integrated Operations In-house construction, civil engineering and building materials division

offers synergistic benefits.

The integrated building and civil construction work ensure that building and construction works are of consistently good quality and completed on time at low costs.

The in-house building materials trading arm ensures timely supply of building materials at competitive prices.

BC, DC and TDC are located close to one another, consequently the overall management overhead will be lower.

56

BUSINESS OUTLOOKBUSINESS OUTLOOK

57

Business OutlookBusiness Outlook

The first half of FY2010 was a relatively challenging period with uncertainty in the global economic environment and credit crunch problems.

However, for the second half of FY2010, the property market is making a strong comeback with renewed buying interest on expectation that the economic downtrend is bottoming out and relative stability of the job market.

The Group expects the industrial and commercial development operations to remain as the main

profit contributors for the Group in FY2010.

58

Business Outlook Business Outlook (Cont.)(Cont.)

The business outlook for Crescendo Group in the medium to long term is expected to be good for the following reasons:

Good rental market- The rental market for industrial properties is expected to be good as it can

cater for industrialists who are not prepared to enter into sales commitment due to the economic slow down.

Malaysian property remains one of the cheapest in the region

- The availability of contiguous and sizeable land in Malaysia gives Malaysia a competitive cost advantage in terms of land prices.- Attracting international property developers, operators and investors to

invest in the Malaysian property sector will lead to increase in property values, especially land with international development potential.

- The Malaysian real estate remains attractive in terms of price stability, value and potential appreciation.

Prime Location- Out of our total landbank of 3,093 acres, 1,773 acres of our converted landbank is

located within the prime Iskandar Malaysia area.

59

Business Outlook Business Outlook (Cont.)(Cont.)

Improvement in residential property market - Although the demand for residential property is currently slow due to oversupply,

we believe this scenario will change in a few years’ time. in view of the scheduled opening of the Integrated Resorts project in Singapore in 2010 as well as the

various developments within Iskandar Malaysia. These developments will create significant employment opportunities for the JB residents and inmigration

workers from other states. This large population of young employed will be ready to purchase their residential homes in the Iskandar Malaysia area where our projects are located.

The Government is currently further liberalising various sectors of the economy as measures to boost it in the face of the global recession. All property transactions including those between foreigners and non-bumiputeras will no longer require the Foreign Investment Committee’s approval.

60

Dividend Policy

Rewarding shareholders with minimum dividend payout of 30% of Net Profit After Tax and Minority Interests.

For FY2010, expected to maintain a gross dividend of at least 7%.

Dividend PolicyDividend Policy

61

Near-Term ProspectsNear-Term Prospects

Total committed sales for FY2010 up to 31 October 2009 is RM94.2 million, out of which new sales committed this year is RM56.4 million. Total revenue recognised up to 31 July 2009 is RM50.8 million.

The Group expects the Group to remain profitable for FY2010.

62

Near-Term Prospects (Cont.)Near-Term Prospects (Cont.) Development for Financial Year 2010, 2011 and 2012 (Period covered: 1 Feb 2009 to 31 Jan 2012)

Unitavailable /

Development Type launched GDVUnit RM m

Launched ProjectsResidential and commercial- Double storey terrace houses 137 35 - Shop office 27 16

Industrial- Detached and semi-detached 46 133

210 184 New Project launches

Residential and commercial- Shop office 70 39

Industrial- Detached and semi-detached 40 88

110 127

63

NCIP will be the main contributor to future Group earnings in the next few years.

We will complete the main access and reclamation works for CLSB Land by FY2011.

Medium-to-Long Term ProspectsMedium-to-Long Term Prospects

64

An interchange providing access to the Bandar Cemerlang development via the Johor Bahru-Kota Tinggi highway is presently under construction and is scheduled for completion together with the Johor Bahru-Kota Tinggi highway by end of 2010. Phase 1 & 2 of Bandar Cemerlang will commence in FY2013 and this project is expected to contribute positively to the revenue and profit of the Group.

The completion of the Sg Johor Bridge project in tandem with the new Senai-Desaru Highway in 2 years time will boost land value of 794-acre landbank in Kota Tinggi. This land has been zoned for mixed development and it is possible to start developing this land in 10 years’ time into a retirement homes cum mixed development project.

Medium-to-Long Term Prospects (Cont.)Medium-to-Long Term Prospects (Cont.)

65

Medium-to-Long Term Prospects (Cont.)Medium-to-Long Term Prospects (Cont.)

Education Proposed construction of a new campus for our college

which is expected to be in operation by FY2011 With the proper campus and hostel facilities, the

college will be able to attract foreign students Total project cost of the new campus is expected to be

approximately RM6 million

66

STRATEGIESSTRATEGIES

67

StrategiesStrategies

For the residential and commercial operations, we have scaled down our launches this year and concentrate on selling our existing stock.

The Group’s focus now is on the development of industrial properties as the demand for residential property is

currently slow due to oversupply and economic slowdown.The demand for the commercial properties is good and the Group will continue to invest in this sector but in smaller phases so as to be conservative.

There will be more emphasis on residential and commercial sector in the medium term when we start to develop

Bandar Cemerlang and CLSB Land.

68

The Group will continue its strategy of selling substantially built and completed buildings as the Group has received strong demand from customers preferring to buy substantially built/completed buildings.

We also have pre-built factories for rent to industrialists. Given the lower cost environment, we are confident of significant demand for rental market at NCIP by foreigners who are currently operating in higher cost areas.

The Group will provide wider array of ready built property choices according to market demand Large detached factories and landed commercial properties to attract

purchasers from Singapore Smaller semi-detached factories for both the local and foreign

purchasers Affordable houses (<RM250,000) Quality & modern design shop offices at populated areas

Strategies (Cont.)Strategies (Cont.)

69

THANK YOUTHANK YOU

Questions & Answers Questions & Answers SessionSession

Telephone number: 07-224 8316 Email address: [email protected]

70

APPENDIXAPPENDIX

71

CORPORATE FACT SHEETCORPORATE FACT SHEET

Listed On: April 8, 1997 (Main Board)April 8, 1997 (Main Board)Issued Shares: 155.071 mil155.071 mil(31 October 2009)Par Value Per Share: RM1.00RM1.00NTA/Share (31 July 2009): RM2.56RM2.56 Estimated Free Float: 25% or 38.8m shares25% or 38.8m sharesMarket Capitalization asof 31 October 2009: RM169 milRM169 milMajor Shareholders: Sharikat Kim Loong SB (64.02%)Sharikat Kim Loong SB (64.02%)(18 June 2009) Public Smallcap Fund (2.57%)Public Smallcap Fund (2.57%) Public Far-East Property & Resorts Fund(2.38%)Public Far-East Property & Resorts Fund(2.38%)Financial Year End: 31 January31 January

72

Corporate Address:

Telephone number:

Fax:

Website:

Lot 18.02, 18Lot 18.02, 18thth Floor, Floor,Public Bank Tower,Public Bank Tower,19, Jalan Wong Ah Fook,19, Jalan Wong Ah Fook,80000 Johor Bahru,80000 Johor Bahru,Johor, MalaysiaJohor, Malaysia

+607 224 8316+607 224 8316

+607 223 2562+607 223 2562

www.crescendo.com.mywww.crescendo.com.my

CORPORATE FACT SHEET (Cont.)CORPORATE FACT SHEET (Cont.)

73

BOARD OF DIRECTORSBOARD OF DIRECTORS

Independent DirectorYeo Jon Tian @ Eeyo Jon Thiam

Independent DirectorTan Ah Lai

Senior Independent DirectorGan Kim Guan

Executive DirectorGooi Seong Gum

Executive DirectorGooi Seong Chneh

Executive DirectorGooi Seong Heen

Chairman & Managing DirectorGooi Seong Lim

PositionName

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