Lagenda Properties Berhad
Fri, 26-Jan-2024 07:55 am
by Research Team • Apex Research

Counter

LAGENDA (7179)

Target Price (RM)

1.430

Recommendation

Hold

• Establish Seed Homes, a 50:50 joint venture between Sime Darby Property Bhd and Lagenda Properties Bhd aiming to deliver innovative solutions in the affordable homes segment.

• Proposed collaboration allows Lagenda to leverage onto Sime Darby’s position as one of the largest property players in Malaysia, while Lagenda will offer their expertise in affordable housing township development.

• Downgrade LAGENDA to HOLD with an unchanged target price of RM1.43, pending further details in coming quarter’s results briefing.

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.452920 4.487673
EUR 4.698373 4.707035
CNY 0.612094 0.612693
HKD 0.572113 0.576600
SGD 3.311112 3.337265