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Lagenda actually has very strong earnings visibility with their focus on affordable housing, so the sukuk is just a smart way to fuel more growth. You should look at the bright side because their niche market is always in high demand regardless of the economic cycle.
Sukuk is good for established companies with a strong financial track record, as it provides access to long-term funding and greater financial flexibility.
Lagenda got solid track record so this sukuk move definitely help them secure cheaper long term capital for their growth. They really know how to play the game to keep their cash flow healthy while expanding their reach.
With AmBank locking in that RM400m sukuk, the sentiment is looking solid, but we need a breakout above the immediate resistance at RM1.50 to confirm any bullish momentum. Watch the support at RM1.30 closely