1. INTRODUCTION

On behalf of Titijaya’s Board of Directors, Kenanga Investment Bank Berhad (“Kenanga IB”) is pleased to announce that the Issuer has established an Islamic Commercial Papers Programme of up to RM150.0 million in nominal value (“ICP Programme”) and made its first issuance of Islamic Commercial Papers (“ICPs”) of RM20.0 million on 10 November 2017.

Titijaya had on 24 October 2017, lodged with the Securities Commission Malaysia, the required information and relevant documents relating to the ICP Programme pursuant to the prevailing Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

Kenanga IB is the Principal Adviser, Lead Arranger and Lead Manager for the ICP Programme.

2. DETAILS OF THE ICP PROGRAMME

The ICP Programme shall have a tenure of up to seven (7) years from the first issuance of the ICPs under the ICP Programme.

The ICPs issued under the ICP Programme are issued under the Shariah principle of Mudharabah (Profit Sharing). The ICPs shall be transferable and tradable.

Malaysian Rating Corporation Berhad has assigned a final short-term rating of MARC-1IS to the ICP Programme.

3. UTILISATION OF THE PROCEEDS

The proceeds from the issuance of the ICPs shall be utilised for, amongst others, the repayment of future borrowings, to finance the investment activities, working capital requirements and/or other general corporate purposes of the Issuer and/or its direct and indirect subsidiaries including the jointly controlled entities and associate companies of Titijaya.

This announcement is dated 10 November 2017.