Lagenda Properties Bhd’s wholly owned subsidiary has completed the first issuance of RM475 million in Sukuk Wakalah under its RM1.5 billion Islamic medium-term notes programme.
The issuance, completed on Sept 17, represents Series 1 under the group’s Sukuk Wakalah Programme based on the Shariah principle of Wakalah Bi Al-Istithmar.
Lagenda Properties said proceeds from the issuance will be used for Shariah-compliant inter-company advances to fund acquisitions and working capital requirements for affordable housing developments, among other purposes.
The Series 1 sukuk is secured and unrated.
It will not be listed on Bursa Malaysia Securities Bhd or any other stock exchange.
Alliance Islamic Bank Bhd and AmInvestment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the programme.
Alliance Islamic Bank and AmBank Islamic Bhd are also acting as joint Shariah advisers.
Lagenda Properties had previously announced the establishment of the RM1.5 billion Sukuk Wakalah Programme on July 24, 2026.
