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 […]
Paramount gives RM500k to The Edge COVID-19 fund; Chairman gives another RM250k
Paramount Corporation Berhad (Paramount) has pledged RM500,000 to The Edge COVID-19 Health Care Workers Support Fund in aid of our health care workers who are serving tirelessly in hospitals day and night. Paramount Chairman Dato’ Teo and his family are donating another RM250,000. Dato’ Teo said, “My colleagues, family members and I have a huge […]
Paramount mulls venture into property management, proptech segment amidst margin erosion
KUALA LUMPUR (March 3): Paramount Corporation Bhd is mulling to establish footprint in the property management and property technology (proptech) segment with the proceeds from the divestment of its education operations. The sale of its controlling equity interest in its pre-tertiary education business to Prestigion Education Sdn Bhd is expected to yield net cash of […]
Paramount to launch projects worth RM1.2b in 2020, targets RM1b sales
KUALA LUMPUR (March 3): Paramount Corporation Bhd is planning to launch some RM1.2 billion worth of property projects in 2020 while maintaining its sales target at RM1 billion. Speaking at a media briefing today, Paramount Corporation CEO Jeffrey Chew said that this year’s sales is expected to be driven by demand from the formation of […]
