Although there are some Tagalog adjectives that begin with “ka”, it is more common for adjectives to start with “ma”. The adjective forms of the words you mentioned above are “maganda” (beautiful) and “masaya” (happy), not “kaganda” and “kasaya”. The use of “ka” there stand for “as” and the root words, “ganda” and “saya”, serve as the adjectives, i.e., “kaganda” = as beautiful, “kasaya” = as happy. That’s the reason why such words are usually preceded by the demonstrative pronouns, “ganito” (this), “ganyan” (that), or “ganoon” (that yonder) because these pronouns fill in for the “as this” or “as that” part of the phrase – as beautiful as this/that; as happy as this/that.
Malamang = most likely
hindi siya = he is not/not him
ganun na/ganung/ganoon na/ganoong = (as) that, which is
kagandang/kaganda na lalaki = as handsome (beautiful man)
Malamang hindi siya ganung kagandang lalaki. = Most likely he is not as handsome as that. –
The meaning of “that” (the definition of handsomeness) will depend on whatever the speaker is alluding to, e.g., maybe he is being compared to Brad Pitt. However, if the speaker was referring to handsomeness in its general sense, then the sentence would mean simply, “Most likely he is not that handsome”.