Updates

Paramount shareholders approve UOW-KDU transaction

KUALA LUMPUR (July 10, 2019): Paramount Corp Bhd has received shareholder approval to dispose of 65% of its tertiary education ops, giving flexibility for the company to further grow its property segment.

Group chief executive officer Jeffrey Chew said he expects revenue contribution from its property segment to increase to 85% in the next five years from around 70% currently. 

“Our focus on the property segment will revolve around initiatives such as landbanking, senior living and co-working spaces,” he told reporters after the company EGM today. 

In spite of the current property market slowdown, Chew said Paramount Corp is maintaining its sales target of RM1bil for this year.

Paramount Corp is selling its K-12 education business for more than half a billion ringgit but will still maintain a minority stake in the three entities it is divesting. K-12 education is for children from kindergarten through the twelfth grade.

The company will receive a cash consideration of RM540.5mil for the sale of its controlling interest in three wholly owned subsidiaries – Paramount Education Sdn Bhd, Paramount Education (Klang) Sdn Bhd and Sri KDU Sdn Bhd – to Two Horses Capital Sdn Bhd.

It plans to use 32.7% of the proceeds or RM177mil – the largest portion of its intended utilisation – as a special cash dividend for its shareholders within six months of the completion of the disposal.

The group also plans to use RM150mil to replenish its land bank and RM133.66mil to repay its borrowings.

There are also options for Paramount Corp to exit the target companies in the financial year 2021, or if Two Horses exercised its rights to buy the remaining equity interests.

Following the completion of the proposed disposal, Paramount Corp will only hold 30.3% in Paramount Education and 20% each in Paramount Education (Klang) and Sri KDU.

It will also hold an effective equity interest of 20% in REAL Education Group Sdn Bhd, of which Paramount Education holds 66%. The remaining 34% is held by Character First Sdn Bhd, all of which will be disposed of entirely to Two Horses.

百乐园集团宴庆50周年 拨1千万充职员子女奖学金

左起为黄成发、黄一思、黄汉平、黄聪华、张昌炯贤伉俪、周胜忠、马骏骢、林汉水和曾国展。

6月30日:百乐园集团(PARAMOUNT CORP BHD)日前举办庆祝该集团创办“50周年纪念”晚宴,董事主席拿督张昌炯在会上表示,为配合该集团创办50周年纪念,该集团决定拨出1千万令吉,充作职员子女的奖学金。这项福利也包括该集团属下子公司职员的子女,学额为50位,他们可在SRI KDU和R.E.A.L学院接受教育。

会上,他也受邀颁发服务奖给服务5年至30年的职员,其中百乐园产业(北马)有限公司首席执行员兼董事黄汉平则服务长达25年。张昌炯说,该集团也与商业伙伴共同捐献63万5500令吉作为5所非盈利机构基金,其中包括国家癌症中心、世界自然基金会和儿童医疗基金等。

他说,该集团在1981年创办百乐园产业(北马)有限公司,首推展双溪大年百大年花园,在1996年拓展斑鸠湾城镇,在2004年荣获最佳发展计划奖项(FIABCI),接着2012年推展首个拥有围篱的菩提岭(BUKIT BANYAN)房屋发展计划。在2014年3月间,在峇都加湾打造“UTROPOLIS”槟城第一个大学城,占地30.7英亩,属于永久地契。

百乐园集团首席执行员周胜忠指出,5年前,百乐园产业营业额介于3亿至4亿令吉,目前将要达到10亿令吉。该集团已在5年至10年内开始涉足核心业务投资,其中之一就是在2017年在UTROPOLIS和GLENMARIE拓展共享办公室(Co-Working Space),并希望通过共享办公室业务(Co-labs)提高品牌知名度,过后也分别在3个据点,即是吉隆坡市中心的NAZA大楼、莎阿南的SEKITAR 26和八打灵再也THE STARLING MALL拓展共享办公室,总面积是9万6000平方尺。

提到百乐园PARAMON(1724主板产业股)时,他说,他们的股票已经超过2令吉,在5年前它的股价是1.40令吉,在过去的2年,股价涨30%,我们有能力给股东约40%至50%的股息,致百乐园荣获2018年营业额少过10亿令吉的“最佳股息奖项”。

百乐园5年大跃进. 产业年销售额破10亿

(槟城6月29日讯)百乐园集团(PARAMON,1724,主要板房产)总执行长周胜忠指出,该公司产业年销售额,从5年前的3亿至4亿令吉,如今已突破10亿令吉。

他週四晚(27日)在槟城国际会展中心,出席该机构创立50週年北马区宴会上致词时,这麽说。

他说,该机构最近也完成脱售旗下教育领域的大部分股权,以便能够更专注房地产领域的投资。

“目前房地产走软,但也是地主愿意合理的价格脱售地皮,或进行联营计划。”

他说,该公司正在为未来5至10年的发展需求和趋势进行播种,其中一个就是以Co-Labs Coworking为品牌的共享办公空间。

“我们于2017年在威南峇都交湾Utropolis开始Co-Labs后,也已经在八打灵再也The Starling,吉隆坡Naza Tower和莎阿南的Sekitar26开设共用办事处,总面积为9万6000平方呎,共有1600张座位。”

百乐园集团董事主席张昌炯则说,该集团决定配合创立50週年,,为集团职员子女提供50份,价值达1000万令吉的Sri KDU和R.E.A.L的奖学金。

他说,该集团配合50週年庆,捐助63万5500令吉给予5个非政府组织,包括儿童尊严基金会、大马临终关怀协会、国家癌症协会、马来西亚世界自然基金会和T.Mori教育信託。

宴上,周胜忠和张昌炯也颁发服务奖给予服务届满5、10、15及25年的职员,当中包括服务届满25年的百乐园产业(北马)有限公司总执行长黄汉平。