Rating action          MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM300 million Islamic Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed the existing MARC-1IS rating on the group’s RM150 million ICP programme which will expire on November 8, 2024. The new progra...

Rating action          MARC Ratings has upgraded Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme short-term rating to MARC-1IS from MARC-2IS. RationaleThe rating upgrade reflects Titijaya’s stronger long-term credit profile, with improved business profile and healthier balance sheet, characterised by lower leverage an...

Rating action          MARC Ratings has affirmed its short-term rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding under the programme stood at RM30.0 million as of November 15, 2022.RationaleThe rating affirmation incorporates Titijaya’s track record in developing projects in and around...

Rating action     MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-September 2021.Rationale     The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas, a...

MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-July 2020.The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas to mitigate demand risk, and its moderate leverage and liquidity posi...

MARC has lowered Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme to MARC-2IS from MARC-1IS. The outstanding notes under the programme stood at RM50.0 million as at end-June 2019. The rating action reflects the increased concerns on Titijaya’s business and credit profile arising from the prevailing weak property market. In particular, pressure on ...

MARC has affirmed its short-term rating of MARC-1IS on Titijaya Land Berhad’s (Titijaya) RM150.0 million Islamic Commercial Papers (ICP) Programme with a stable outlook. The outstanding notes under the programme stood at RM50.0 million as at end-July 2018. The rating incorporates Titijaya’s fairly established property development track record with a primary focus on the more resilient me...

MARC has assigned a short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM150 million Islamic Commercial Papers (ICP) Programme. The outlook on the rating is stable. The rating incorporates Titijaya’s fairly established property development track record, strong profitability margins and moderate financial flexibility. Notwithstanding these factors, the present cha...