KUALA LUMPUR (Sept 17): Titijaya Land Bhd said its wholly-owned subsidiary Liberty Park Development Sdn Bhd (LPDSB) has received a money lending licence, which will diversify the property developer’s earnings base.

In a filing with the exchange, Titijaya said the licence was granted by the Department of Moneylenders and Pawnbrokers, Ministry of Urban Wellbeing, Housing and Local Government, under the Moneylenders Act 1951.

“The money lending licence will diversify Titijaya’s earnings base and is expected to contribute positively to Titijaya’s earnings for the financial year ending June 30, 2016, when LPDSB commences its money lending business,” it said.

For its fourth quarter ended June 30, 2015 (4QFY15), the company posted a net profit of RM18.27 million, down 9% from RM20.06 million, while revenue declined 20% to RM66.49 million from RM82.82 million.

For the full year (FY15), Titijaya’s net profit rose 13% on year to RM80.87 million, while revenue jumped 20% to RM340.65 million, from RM283.85 million.

Titijaya fell 8 sen or 4.9% to RM1.54, translating to a market capitalisation of RM582.6 million.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)