Distortion of the foliage by puckering or crinkling, especially on new growth, is usually the result of insect damage, typically from sucking insects like aphids. There may well not be insects on the plant right now but they were very likely there just as that new growth was forming......that's like their favorite snack!

There is still time to prune that off if it bothers you.

If the problem persists, I would try releasing beneficial insects like ladybugs, etc. To prevent future infestations, release the ladybugs about 2-4 weeks before the date when the problem started this year (so if the problem started today, release them next year around the middle of April). Once you have a high enough level of these benefiail insects, you will not need to repeat this every year of course. To maintain these guys around, provide them with some water and reduce (or eliminate) the use of insecticides as insecticides will also kill beneficial insects. And if the number of beneficial insects gets too low, that can allow aphids to get out of control in future years.

Thank you for your responses.

Garden gal, do you think if I remove this new growth I can still get flowers this year?

Luis, will definatelle go out and get some ladybugs. Hopefully it will bloom this year. It is such a gorgeous little tree.