KUALA LUMPUR (Sept 17): Lagenda Properties Bhd (KL:LAGENDA) said its wholly-owned subsidiary Lagenda Capital Sdn Bhd has raised RM475 million via its sukuk wakalah programme, to be used for inter-company advances to fund acquisitions and working capital for affordable housing development.
According to its filing with Bursa Malaysia, Lagenda Capital’s first issuance from its RM1.5 billion programme is guaranteed by Lagenda Properties.
The programme has a perpetual tenure, with each sukuk issuance having a minimum tenure of one year. The first issuance is expected within 90 business days from the lodgement date, said Lagenda Properties.
The first issuance is secured, unrated and is not listed on Bursa Malaysia Securities Berhad or any other stock exchange.
For the three months period ended June 30, 2026 (2QFY2026), Lagenda Properties posted a 25% rise in net profit to RM57.76 million compared to RM45.24 million a year earlier. Revenue also increased by 41% to a record RM336.24 million from RM238.89 million.
As at June 30, 2026, the company had RM985.4 million in borrowings but only RM264.1 million in cash, leaving it with net debt of RM721.3 million.
Alliance Islamic Bank Bhd and AmInvestment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the programme.