Hearts United, Homes Abloom
Paramount Runs for Climate Action and Environmental Protection
Two teams of runners from Paramount Corporation Berhad (Paramount) did a 5-km race around Bukit Kewangan in downtown Kuala Lumpur, on 8 October 2023, alongside some 1,000 others from 100 organisations at the 7th Edition of the Bursa Bull Charge.
The Paramount teams were led by Group CEO Jeffrey Chew and Paramount Property COO Wang Chong Hwa, who both ran the 1.5km CEO Run. Meanwhile, Paramount’s 5-km runners comprised three women (Amanda Lee, Lim Ah Khim and Sukma Soleha) and five men (Ivan Chan, Sean Looi, Adrian Choo, Ikhwan Nordin and Prasanth Vijayan).
To make the Sunday morning outing merrier, 50 Paramount employees from across the organisation, including the Paramount Property CEO Chee Siew Pin, showed up as supporters in jerseys bearing The Ashwood logo to cheer their colleagues and other runners at the start/ finishing line. Some were waving the Paramount Property flags. The Ashwood is an upcoming development by Paramount Property located at the U-Thant area, at Jalan Ampang, Kuala Lumpur, also known as the Embassy Row, targeted to be launched in November 2023.
Chew said, “We had great fun, and as Bursa Malaysia CEO Datuk Muhamad Umar Swift said, by participating in Bursa Bull Charge, we are once again showing that businesses can be a force for good.”
“I would like to congratulate Bursa Malaysia for successfully raising RM1.5 million for eight beneficiaries involved in climate action and environmental protection.
“This year’s focus on climate action is timely, and in line with Paramount’s sustainability aspirations and CSR focus, that are anchored on wellness, education, and the environment. As stewards, we owe it to our future generations to ensure that the planet will be a better place than it is today,” he said.
The eight beneficiaries of the Bursa Bull Charge 2023 were Global Peace Foundation, Impact Malaysia, Marine Research Foundation, Persatuan Kepimpinan, Pemerkasaan & Pembangunan Wanita Sabah, Pertubuhan Perkhidmatan Sosial dan Pembangunan Komuniti Daerah Gombak, Selangor, Reef Check Malaysia, Science of Life Studies 24/7 (SOLS) and WWF-Malaysia.
This year’s event was graced by Minister of Natural Resources, Environment and Climate Change Tuan Nik Nazmi Nik Ahmad.
Since its establishment in 2014, the Bursa Bull Charge had attracted participation from more than 11,300 runners and raised funds of over RM13.3 million for 172 beneficiaries, supporting communities such as the Orang Asli, women (including single mothers), children, and persons with disabilities.
Mid Autumn Festival @ The Atera & Sejati Lakeside 2
Top Development Stars Awarded
KUALA LUMPUR: The Malaysia Developer Awards (MDA) 2023 returned for the second year to recognise the success of established names in the development industry.
The prestigious event was held at M Resort and Hotel and saw 28 recipients being awarded for their achievements through various categories under the Top-of-the-Chart Awards and Special Awards.
The Special Awards comprised the Rising Star Award, Transformation Award and International Award, and a new trophy introduced this year, Joint Development.
EUPE Corporation Bhd, OCR Group Bhd and UMW Development Sdn Bhd took the Rising Star Award. The accolade is to recognise up-and-coming developers for their ability to set themselves apart by displaying great potential, even though they have only just begun to set foot in the industry.
i-Berhad took home the Transformation Award for its project, i-City. The award was to honour developers who have transformation projects from rescuing abandoned projects to rejuvenating old and dilapidated buildings or converting mining, quarry, disused or derelict land into grand developments.
The International Award was bestowed on the Battersea Power Station in London, a project by Battersea Power Station Malaysia Sdn Bhd, a joint venture between Sime Darby Property Bhd, SP Setia Bhd and the Employees Provident Fund (EPF).
IOI Properties Group Bhd also received the International Award for its IOI Palm City project in Xiamen, China.
Bukit Bintang City Centre, a joint venture between UDA Holdings Bhd, EcoWorld Development Group Bhd (EcoWorld) and EPF, was honoured with the Joint Development Award.
Another developer who won the Joint Development Award was Tan & Tan Developments.
They were awarded for their work on Bukit Bintang City Centre and Stonor 3 KLCC, respectively.
The Joint Development Award is the latest trophy under the Special Award category for developers who have joined forces and expertise to leverage each other’s capabilities to develop at least one property.
IOI Properties Group leads the Top-of-the-Chart Awards under the Top 10 for Market Capitalisation of RM1bil and above. The company is followed by OSK Holdings Bhd, Matrix Concepts Holdings Bhd, Malaysian Resources Corporation Bhd, HCK Capital Group Bhd, Mah Sing Group Bhd, UEM Sunrise Bhd, IJM Corporation Bhd (IJM Land Bhd), Sime Darby Property Bhd, as well as IGB Bhd and Tropicana Corporation Bhd, which both tied for the tenth position.
The newest categories under the Top-of-the-Chart Awards, namely the Best in Quantitative for Market Capitalisation of RM1bil and above and Best in Qualitative for Market Capitalisation of RM1bil and above awards, were awarded to IOI Properties Group Bhd and Sime Darby Property Bhd, respectively.
NCT Alliance Bhd, Paramount Corporation Bhd, Glomac Bhd, LBS Bina Group Bhd and JKG Land Bhd clinched the Top-of-the-Chart Awards under the Top 5 for Market Capitalisation of below RM1bil.
For the Best Quantitative for Market Capitalisation below RM1bil award, NCT Alliance Bhd was named the top company.
This year’s Best Qualitative for Market Capitalisation of below RM1bil award was granted to Paramount Corporation Bhd.
The judging panel was made up of experts and professionals across multiple disciplines in the development industry, providing a fair and just evaluation.
The chief judges were Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar and Klang Municipal Council president Noraini Roslan.
Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir remarked that MDA 2023 has emerged as a platform that recognises emerging companies in the property industry.
“Given the dynamic growth in the industry, I am pleased to hear about the inclusion of the newly added categories, as it truly represents the growth experienced throughout this sector.
“Across the five categories of the MDA, these projects represent the standard of the property industry – to create homes that are more than just well-crafted buildings but also show the priority of strong social and cultural values that we take pride in as Malaysians,” he said.
In his speech, Star Media Group (SMG) group chief executive officer Alex Yeow said the MDA catalysed innovation, inspiring both emerging and established developers to drive progress in the realm of property and development on a global scale.
“The achievements of property developers here are the result of their dedication, vision and unwavering commitment to excellence. They possess the unique ability to envision possibilities where others see limitations,” he said.
FIABCI-Malaysia president Datuk Firdaus Musa said the awards programme creates an environment that promotes healthy competition and elevates the prestige of the local property development industry.
“We hope to set new benchmarks for Malaysian developers, whether local or international standards.
“These awards are a way to honour the developers who have gone above and beyond to deliver projects that contribute to the growth and advancement of the real estate sector in the country,” he said.
Paramount Big Mega Win
Paramount Aims 10% Property Sales Growth for 2023
PETALING JAYA: Paramount Corporation Bhd is targeting 10 per cent year-on-year growth for its property development sales to around RM1.2 billion in 2023 compared with RM1.1 billion last year.
Group chief executive officer and director Jeffrey Chew Sun Teong said the company is optimistic to achieve the target sales this year given its robust performance during the first quarter (1Q) of 2023 on the back of improvement in the property division.
He said although the demand for property sector currently has reverted to normal level as before the pandemic due to various factors, the supply of property development especially in the urban areas has significantly decreased.
“Based on our market study, what happened is the supply of property development in terms of completion of the property has gone down by around 50 per cent in some locations.
“We expect better performance compared to 2022 and our revenue will also grow accordingly as we perform better this year,” he told reporters after the company’s 53rd annual general meeting here today.
He said the company would launch seven new projects involving commercial, industrial and residential properties with a total gross development value of RM1.52 billion for the financial year 2023 as well as grow other divisions such as the coworking segment, hospitality and food and beverages.
“Our biggest launch so far was the Savana high-rise residential project in Batu Kawan, Penang. We launched it last March and as of May, we have a take-up rate of 26 per cent,” he added.
In 1Q 2023, the property developer registered a higher net profit of RM11.58 million from RM5.02 million a year ago while revenue rose to RM194.56 million from RM168.09 million previously. – Bernama
