Lagenda Secures RM475 mil Inaugural Sukuk to Fund Affordable Township Expansion
Lagenda Properties Bhd raised RM475 million through its inaugural RM1.5 billion sukuk wakalah programme, the developer said in a statement on Tuesday.
Source: Lagenda Properties Berhad · August 5, 2026 at 10:58 PM · AI-assisted report
Corroborated
JOHOR, 6 AUGUST 2026 —
Lagenda Properties Bhd raised RM475 million through its inaugural RM1.5 billion sukuk wakalah programme, the developer said in a statement on Tuesday.
Market Impact
The maiden issuance was subscribed by AmBank Group, which committed RM400 million, and Alliance Islamic Bank Bhd, which took the remaining RM75 million, according to the company.
Proceeds will fund Shariah-compliant activities, including land acquisitions, capital expenditure, affordable housing development, working capital and refinancing of existing borrowings, Lagenda said. The issuance was guaranteed by Lagenda Properties and issued via its wholly-owned subsidiary Lagenda Capital Bhd.
Managing director Datuk Jimmy Doh called the transaction a milestone for the group.
"It enhances our financial flexibility by broadening our access to Malaysia's Islamic capital market, enabling us to support our long-term growth through a more diversified and efficient funding platform while maintaining disciplined capital management," he said.
AmInvestment Bank Bhd and Alliance Islamic Bank Bhd acted as joint principal advisers, joint lead arrangers and joint lead managers for the programme. AmInvestment Bank also serves as facility agent, while Alliance Islamic Bank and AmBank Islamic Bhd are joint Shariah advisers.
Founded in 2018 as an affordable township developer, Lagenda has expanded from its Perak base into Selangor, Johor, Kedah and Pahang. The group now holds a 3,988-acre landbank across six states and targets the B40 and M40 segments through community-based projects.
Lagenda has a four-star ESG rating under the FTSE4Good Bursa Malaysia Index, reflecting its environmental, social and governance practices.
Following the RM475 million issuance, the RM1.5 billion programme has about RM1.025 billion of uncommitted capacity for future drawdowns as the group advances its development pipeline.
Related: AmBank · Bursa Malaysia · Johor