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.

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Market Mover
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