Skip to content
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
  • MARC Online
  • Subscribe
  • Group

    Group

    The MARC Group of Companies comprises MARC Ratings, MARC Solutions, MARC Data and MARC Learning.

    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning

    MARC Ratings

    • Rating Guide
    • Rating Process
    • Rating Symbols & Definitions
    • Rating Methodologies
    • Regulatory
    • Lead Managers

    MARC Solutions

    MARC Data

    MARC Learning

    • Careers
    • Careers
  • Services

    Services

    MARC's subsidiaries each provide distinct product offerings and services.

    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Analytics Consulting Services
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights

    Insights

    Find the vital information you need and stay up to date with the latest news from MARC.

    • Rating Announcements
    • Research & Analysis
    • Views
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Latest@MARC
    • MARC in the Media
    • Latest@MARC
  • Events & CSR

    Events & CSR

    MARC organises a diverse range of events throughout the year to engage with all stakeholders.

    • MARCares
    • Events
    • MARCares
    • Events
  • Contact Us

    Contact Us

    Let's get the conversation started - Get in touch with us!

    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
MARC Online
Subscribe
Menu
  • Group
  • Services
  • Insights
  • Events & CSR
  • Contact Us
  • Group
  • Services
  • Insights
  • Events & CSR
  • Contact Us
Credit Ratings & Related Assessments
Economic & Fixed-Income Analysis
Sustainability Related
Analytics Consulting Services
Data Analytics
Credit Reporting
Learning Programme

Credit Ratings & Related Assessments

Economic & Fixed-Income Analysis

Sustainability Related

Debt Advisory

Analytics Consulting Services

Data Analytics

Credit Reporting

Learning Programme

  • Insights
  • Rating Announcements
Rating

MARC maintains Talam Transform’s settlement BaIDS’ rating at CIS

9 September 2021

Access the full report here.

View Reports

Contacts

Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my
Umar Abdul Aziz, +603-2717 2962/ umar@marc.com.my

Posted Date: September 9, 2021

MARC has maintained its CIS ratings on property developer Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS) as of June 9, 2021. The rating continues to reflect the substantial risk of default on the Settlement BaIDS, notwithstanding the extension of the maturity date of Talam’s Settlement BaIDS by 18 months to June 28, 2022, from December 28, 2020.

Talam’s business and financial prospects remain challenged by the tough operating environment. It has relied and will continue to rely substantially on proceeds from disposals of land parcels to meet its financial obligations. Timely execution of asset disposals remains a key risk, particularly given the non-prime locations of most of its remaining landbank. Its landbank of 746.0 acres has an estimated unencumbered value of RM317.9 million, according to the company.

Talam recorded revenue of RM36.9 million and pre-tax losses of RM30.1 million in financial year ended March 31, 2021 (FY2021). The losses were mainly due to impairment provisions of RM34.1 million from investment in its subsidiary in China. Cash flow from operations was negative RM51.1 million while cash and bank balances stood at a low RM3.3 million at end-March 2021. The outstanding Settlement BaIDS is partially secured against property units in Taman Puncak Jalil, Bukit Jalil, with an aggregate value of RM9.8 million, providing a low security coverage of 0.25x.

Contacts:

Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my;
Umar Abdul Aziz, +603-2717 2962/ umar@marc.com.my;
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my.

List related news | List related issues | List related reports

Related Report

Read More

Related Issues

Read More

Related News

Read More

You May Also Like To Read

See All
Ratings

MARC Ratings affirms ratings on S P Setia’s issuances

3 July 2025

Ratings

MARC Ratings affirms Gas Malaysia’s AAAIS/MARC-1IS ratings

2 July 2025

Sustainability

MARC Solutions publishes revised Impact Assessment Methodology for sustainable finance instruments and frameworks

1 July 2025

See All

Let’s get started.

Subscribe to our mailing list today.

Subscribe Now
Group
  • About MARC
  • Leadership
  • Investor Relations
  • Notable Issuances
  • Careers
Regulatory
  • Rating Reviews Summary
  • List of Defaults
  • List of Credit Ratings Published
  • List of Entities on Rating Watch
Services
  • Credit Ratings & Related Assessments
  • Sustainability-Related Assessments
  • Economic & Fixed-Income Analysis
  • Sustainability-Related Advisory
  • Subscriptions
  • Analytics Consulting Services
  • Data Analytics
  • Credit Reporting
  • Learning & Customised Programmes
Subsidiaries
  • MARC Ratings
  • MARC Learning
  • MARC Data
  • MARC Solutions
Insights
  • Rating Announcements
  • Research & Analysis
  • Views
  • Latest@MARC
  • MARC in the Media
Events
  • Corporate Events
  • Corporate Social Responsibility (CSR)
  • Advertise with MARC
Contact Us
  • Contact Us
  • Service Level Feedback Form
  • Publication Feedback Form
  • Whistleblowing
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
Terms & Conditions
Privacy Notice
Copyright Notice
Whistleblowing
PDPA Notice
© 2023 Malaysian Rating Corporation Berhad. All rights reserved.
Facebook Twitter Linkedin

Join MARC Mailing List

I would like to subscribe this mailing list. Please tick whichever is applicable
I agree/ do not agree (please tick whichever is applicable) to receive future events, conferences or marketing materials from MARC. *
Privacy Notice *
Declaration *