Latest news with #Lagenda
The Star
02-06-2025
- Business
- The Star
Lagenda rides affordable housing wave into 2025
PETALING JAYA: Lagenda Properties Bhd is expected to see stronger sequential earnings momentum going forward, underpinned by continued steady demand for affordable housing. Phillip Capital Research expects the property developer's sales momentum to continue building sequentially, supported by its RM2.1bil in planned launches for 2025. 'Notably, Lagenda launched its RM4bil Johor Kulai township in April, which we anticipate to be a key sales driver for the group,' it said in a report. For the first quarter ended March 31, 2025 (1Q25), Lagenda's net profit rose to RM44.59mil from RM42.72mil a year ago, while revenue grew to RM264.4mil from RM225.62mi. Lagenda said the earnings reflected the strong market appeal of its well-planned and affordable township developments. In a filing with Bursa Malaysia, the property developer said it had kicked off the current financial year on a strong footing, recording confirmed sales of RM251.9mil in 1Q25. This was driven by robust contributions from Lagenda Aman in Tapah, Perak; La'Indera in Kuantan, Pahang; and Puncak Warisan in Kota Tinggi, Johor. 'As of March 2025, unbilled sales stood at a healthy RM898.9mil, with outstanding bookings of RM268.8mil, offering strong revenue visibility for the coming quarters.' The company said it remains optimistic about its latest developments planned for the current financial year and is confident that upcoming launches will solidify the group's position for a bright future. 'In 1Q25, we also marked our entry into a sixth state through a land acquisition in Senawang, Negri Sembilan. 'These expansions reflect our confidence in the long-term prospects of these regions and the growing demand for affordable, well-designed housing. 'We remain confident that our unique value proposition – combining quality with affordability – will continue to resonate with a broad range of homebuyers.' Going forward, the property developer said it will remain focused on executing its pipeline of launches and maintaining a disciplined landbanking strategy, targeting affordable land in strategic locations. UOB Kay Hian Research noted that Lagenda has revised its launch target from 4,000 to 8,000 units in 2025, driven by continued demand for affordable housing. 'Looking ahead, we expect a 30% year-on-year sales growth in 2025, driven by higher project launches and better construction progress from its new townships.' However, the research house lowered its earnings estimates for 2025 to 2027 by 13% to 15%, citing lower margin assumptions due to higher initial construction costs for township developments. 'We maintain (our) 'buy' call with a lowered target price (TP) by 16% to RM1.78 (from RM2.13), as we factor in a higher revised net asset value (RNAV) discount of 40% (from 30%), due to a more conservative margin environment in 2025 to 2026.' Meanwhile, Philip Capital Research maintained its earnings forecast for Lagenda, given the satisfactory results. It kept its 'buy' call and RNAV-derived TP of RM1.75 per share, based on a 30% RNAV discount. 'We continue to like Lagenda for its niche focus on affordable housing and its attractive 6% dividend yield for 2025.' The research house added that key risks to its 'buy' call include higher building material prices and lower-than-expected property sales.
New Straits Times
28-05-2025
- Business
- New Straits Times
Lagenda doubles FY2025 launch target to 8,000 units on strong demand
KUALA LUMPUR: Lagenda Properties Bhd has doubled its launch target for the financial year ending Dec 31, 2025 (FY2025) to 8,000 units, driven by sustained demand in the affordable housing segment. Managing director Datuk Jimmy Doh said the group recently rolled out the first phase of its new 404.69-hectare township development in Kulai, Johor, which received an encouraging early response from buyers. "The strong initial response underscores the continued demand for affordable landed homes in well-planned, emerging locations," he said in a statement. Lagenda posted a 4.4 per cent year-on-year increase in net profit to RM44.59 million for the first quarter ended March 31, 2025 (Q1 FY2025), up from RM42.72 million in the corresponding period last year, supported by steady progress in its affordable housing developments. Quarterly revenue rose 17.2 per cent to RM264.4 million from RM225.62 million a year earlier, attributed to higher revenue recognition from active development projects such as Darulaman Lagenda in Sungai Petani, Kedah, and Lagenda Ardea in Ulu Bernam, Selangor. In a filing with Bursa Malaysia on Tuesday, the company noted that Q1 FY2025 sales reached RM252 million, driven by continued demand at its La' Indera township in Kuantan, Pahang, and Puncak Warisan in Kota Tinggi, Johor. While earnings from individual segments saw a decline year-on-year, group profitability was buoyed by the recognition of RM4.3 million in pre-tax profit eliminations, compared to a loss of RM6.62 million in the same quarter last year. No dividend was declared for the quarter. As of end-March, unbilled sales stood at RM898.9 million, alongside RM268.8 million in outstanding bookings, providing healthy earnings visibility for the coming quarters. Lagenda's shares have declined 9.85 per cent year-to-date, hovering around RM1.20 currently, which values the company at approximately RM1 billion.
The Star
27-05-2025
- Business
- The Star
Lagenda Properties kicks off FY25 on strong footing
For 1Q25, Lagenda's net profit rose to RM44.59mil from RM42.72mil in the previous period. PETALING JAYA: Lagenda Properties Bhd will remain focused on executing its pipeline of launches and continuing its disciplined landbanking strategy, targeting affordable land in strategic locations. In a filing with Bursa Malaysia, the property developer said it had kicked off the current financial year on a strong footing, recording confirmed sales of RM251.9mil in the first quarter of financial year ended March 31, 2025 (1Q25), driven by robust contributions from Lagenda Aman in Tapah, Perak, La'Indera in Kuantan, Pahang and Puncak Warisan in Kota Tinggi, Johor. For 1Q25, Lagenda's net profit rose to RM44.59mil from RM42.72mil in the previous period, while revenue grew to RM264.40mil from RM225.62mil a year earlier. Lagenda said the earnings reflected the strong market appeal of its well-planned and affordable township developments. 'As of March 2025, unbilled sales stood at a healthy RM898.9mil, with outstanding bookings of RM268.8mil, offering strong revenue visibility for the coming quarters.' The company said it remains optimistic about the latest developments planned for the current financial year and is confident that its upcoming launches solidify the group's position for a bright future.
The Star
27-05-2025
- Business
- The Star
Lagenda starts FY25 with strong 1Q performance
PETALING JAYA: Lagenda Properties Bhd will remain focused on executing its pipeline of launches and continuing its disciplined landbanking strategy, targeting affordable land in strategic locations. In a filing with Bursa Malaysia, the property developer said it had kicked off the current financial year on a strong footing, recording confirmed sales of RM251.9mil in the first quarter ended March 31, 2025 (1Q25), driven by robust contributions from Lagenda Aman in Tapah, Perak, La'Indera in Kuantan, Pahang and Puncak Warisan in Kota Tinggi, Johor. For 1Q25, Lagenda's net profit rose to RM44.59mil from RM42.72mil in the previous corresponding period,while revenue grew to RM264.40mil from RM225.62mil a year earlier. Lagenda said the earnings reflected the strong market appeal of its well-planned and affordable township developments. 'As of March 2025, unbilled sales stood at a healthy RM898.9mil, with outstanding bookings of RM268.8mil, offering strong revenue visibility for the coming quarters.' The company said it remains optimistic about the latest developments planned for the current financial year and is confident that its upcoming launches will solidify the group's position for a bright future. 'In 1Q25, we also marked our entry into a sixth state through a land acquisition in Senawang, Negeri Sembilan. 'These expansions reflect our confidence in the long-term prospects of these regions and the growing demand for affordable, well-designed housing. We remain confident that our unique value proposition—combining quality with affordability—will continue to resonate with a broad range of homebuyers.'
New Straits Times
27-04-2025
- Business
- New Straits Times
#SHOWBIZ: Idea Live Arena set to boost PJ's entertainment scene
PETALING JAYA: Idea Live Arena, Malaysia's largest indoor arena within a shopping mall and the nation's second largest after Mega Star Arena, officially opened its doors at 3 Damansara here today. The expansive arena, designed to accommodate 5,000 seated guests or 7,000 attendees in seated and standing arrangements, was established with RM40 million worth of investment involving renovations, structural enhancements, and the installation of cutting-edge technical systems. Boasting superior sound, lighting, and visual equipment, the venue is equipped to deliver world-class experiences for concerts, live performances, and large-scale events. Additional features include a spacious reception foyer, fully equipped dressing rooms, and five luxurious VIP boxes, ensuring comfort and exclusivity for performers and high-profile guests alike. The state-of-the-art venue was officiated by Malaysia Convention & Exhibition Bureau (MyCEB) acting chief executive officer Tan Mei Phing today. Also present was National Film Development Corporation of Malaysia (Finas) chief executive officer Datuk Azmir Saifuddin Mutalib. Azmir said that the arena comes at a pivotal moment, as Malaysia seeks to bolster its tourism industry and revitalise urban areas. "Located within the bustling 3 Damansara mall, Idea Live Arena is expected to breathe new life into Petaling Jaya, transforming the surrounding area into a lively destination for residents, visitors, and businesses bringing about economic boost from increased foot traffic and tourism driven by the arena's events," he said. Tan said that Idea Live Arena also aligns with broader national objectives to enhance Malaysia's global reputation as a cultural and tourism destination. "By providing a state-of-the-art venue for international artistes and events, the arena is poised to draw visitors from across the region and beyond, contributing to the goals of Visit Malaysia Year 2026." The opening ceremony featured a performance by popular singer Datuk Sheila Majid, who sang her hit songs Warna, Lagenda and Sinaran. "It's great to have yet another performing arts venue in PJ, with world class facilities, and I'm confident that Idea Live Malaysia will become an important venue for concerts and live events in the country," she said.
