PETALING JAYA: Lagenda Properties Bhd
has launched its inaugural RM1.5bil sukuk wakalah programme with the issuance of a RM475mil first tranche, marking its debut in Malaysia’s Islamic debt capital market.
The inaugural sukuk was primarily subscribed by AmBank Group, which committed RM400mil.
The programme was established through its wholly-owned subsidiary, Lagenda Capital Bhd, and is guaranteed by the property developer.
The proceeds will be used for syariah- compliant purposes, including financing and refinancing investments, land acquisitions, capital expenditure, affordable housing developments, working capital, general corporate purposes and the refinancing of existing borrowings.
Managing director Datuk Jimmy Doh said the sukuk programme strengthens Lagenda’s capital foundation and broadens its access to Malaysia’s Islamic capital market, providing greater financial flexibility to support its long-term expansion in affordable housing while maintaining disciplined capital management.
AmInvestment Bank Bhd acted as joint principal adviser, joint lead arranger, joint lead manager and facility agent for the programme.
Meanwhile, AmBank Group managing director of business banking Christopher Yap said the bank’s participation as the primary subscriber reflected its confidence in Lagenda’s business fundamentals and long-term growth strategy.
Yap further added that the sukuk programme provides the group with a flexible funding platform to support future expansion.
Lagenda said the RM1.5bil programme forms part of its strategy to optimise its funding structure, strengthen financial resilience and support sustainable growth, while expanding access to affordable homeownership across Malaysia.
