Paramount Posts Profitable 3Q As Property Sales Rebound And Construction Works Resume
KUALA LUMPUR (Nov 27): Paramount Corp Bhd returned to the black with a net profit of RM19.82 million in its third quarter ended Sept 30, 2020 (3QFY20), after the the property developer slipped into a net loss of RM3.7 million in the preceding quarter ended June 30. The improved earnings come as quarterly revenue tripled […]
After a Loss in Q2, is the Worst Over for Paramount?
Even though property is a favoured asset in Malaysia, it was not spared by the pandemic. The property market declined in the first half of 2020, with the number of transactions falling 28% as value of those transactions fell 32% on-year to RM47 billion. In line with that, property player Paramount Corp’s saw earnings swing […]
It’s Flat Seri Kedah’s turn now for a facelift
The same motif of colour blocks and patterns from PPR Lembah Subang 1 and PPR Seri Cempaka is applied in Seri Kedah. (Photos by Low Yen Yeing/EdgeProp.my) The refurbishment continues! On a slightly overcast Saturday morning on Sept 5, some 12 community volunteers from Perumahan Awam Seri Kedah or Flat Seri Kedah public housing scheme […]
Paramount bullish on property market’s prospects in low interest rate environment
KUALA LUMPUR (Sep 2): Paramount Corp Bhd remains bullish on the prospects of the property market as interest rates remain low, saying it will help regain demand that was affected during the Movement Control Order period. As a result of the restricted movement policy, Paramount’s property sales for the cumulative six months ended June 30, […]
Paramount remains upbeat on property sector
KUALA LUMPUR: Paramount Corp Bhd remains bullish on the property sector’s prospects in emerging markets, especially in Malaysia, for the second half of the year, despite the uncertainties caused by the Covid-19 crisis. Group chief executive officer Jeffrey Chew Sun Teong said the property take-up rate is expected to recover in later this year due […]
Paramount acquires prime ‘Embassy Row’ land in Ampang for RM243.8 million
PETALING JAYA, 16 July 2020: Paramount Corporation Berhad (Paramount) is acquiring for redevelopment 4.54 acres of prime freehold land with buildings at Jalan Ampang Hilir, Kuala Lumpur, in the vicinity of what is popularly known as the Embassy Row. A 20-storey building with service suites and 132 units of low-rise condominiums are situated on the land. […]
Paramount expands Bukit Banyan township in Kedah
Paramount Corp Bhd’s Bukit Banyan township in Sungai Petani, Kedah is set to add more properties in the coming years as it acquires land to expand the development by some 25 per cent. The group’s subsidiary Paramount Property (Utara) Sdn Bhd had planned to build a total of 4,480 properties in the 208ha township over […]
Paramount buys 137 acres to expand best-selling Bukit Banyan
PETALING JAYA, 7 July 2020: Paramount Corporation Berhad (Paramount) is expanding its Bukit Banyan township in Sungai Petani by 26% with the purchase of 137.1 acres of freehold agriculture land, contiguous to its existing 520 acres. Paramount Group CEO Jeffrey Chew said its subsidiary Paramount Property (Utara) Sdn Bhd had entered into a sale and […]
Divestment gain of RM460m gives strong boost to Paramount’s 1Q net profit
KUALA LUMPUR (May 29): The divestment gain of RM460.6 million from the disposal of Pre-Tertiary Education Group helped to lift Paramount Corp Bhd’s net profit for the first quarter ended March 31, 2020 (1QFY20) to RM466.95 million, from RM6.17 million a year ago. In its quarterly result release, the group noted that the divestment of […]
