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Sungai Petani Kedah township and Negeri Sembilan township both launching. New township launches typically see strong initial sales velocity (pent-up demand in those secondary markets), and the revenue recognition kicks in progressively over 24-36 months of construction. So we're looking at sustained earnings growth runway.
as of 31 December 2025, the unbilled sales of the company reached a record high of RM1.6 billion, so this should provide a strong earnings for upcoming quarter
BNM cut OPR from 3.00% to 2.75% in July 2025 and held since. Lower OPR = lower mortgage rates = higher mortgage approval rates for first-time buyers. Affordable housing buyers in Lagenda's price segment (RM200k-RM350k) are MOST sensitive to financing accessibility. The cut directly improves their ability to buy. Plus targeted government subsidies and stamp duty waivers stack additional support. Best policy backdrop for affordable housing in years.
discounted to peers, growing earnings, dividend yield, structural demand backdrop. Not a momentum play, more of a buy-and-hold position for those constructing a property basket.
if you look at the operating performance objectively, fundamentals have kept improving, governance has tightened, dividend track record continues. Trust rebuilding takes time, but each quarter of clean execution narrows the trust discount. Patient capital benefits from buying during the rebuild phase.
Macro defensive angle worth highlighting. Even if Malaysia's economy slows toward 4.0% GDP growth (the low end of MoF range), affordable housing demand stays resilient. Why? Because the B40/M40 demographic LAGENDA serves still need shelter regardless of economic cycle.
FY26 catalyst is the launch of two new affordable housing townships, Sungai Petani Kedah and Negeri Sembilan. New township launches typically generate strong initial sales (pent-up demand from area's first-time homebuyers), and the revenue recognition kicks in progressively over construction. So you get both volume growth and extended revenue runway
Stock trading at only 6x forward PE, a steep discount to sector average of 13x. CGS International target price RM2.03 (highest in consensus), significant upside potential.
