Paramount Corporation Berhad, an investment holding company, engages in property development, construction, and education businesses in Malaysia. It operates through three segments: Property, Education, and Investment and Others. The company develops and constructs residential and commercial properties; invests in and manages properties; and provides engineering and project management services. It also operates club houses and car parks; and private educational institutions that offer national and international, primary and secondary school curricula, and tertiary and post-graduate programs. The company was formerly known as Malaysia Rice Industries Berhad and changed its name to Paramount C...
1 Jalan SS21/58
Petaling Jaya, 47400
Founded in 1969
60 3 7712 3333
60 3 7712 3322
Lasseters Properties Sdn. Bhd. and Lasseters Management (M) Sdn. Bhd. Enter into Joint Venture Agreement with Paramount Corporation Berhad
Aug 25 16
The board of directors of Lasseters International Holdings Limited announce that its wholly-owned subsidiaries, Lasseters Properties Sdn. Bhd. (LPSB) and Lasseters Management (M) Sdn. Bhd. (“LMSB”) had on 25 August 2016 entered into a joint venture agreement with Paramount Corporation Berhad (“PCB”) for the purpose of jointly developing and/or acquiring, owning and operating a hotel located in Glenmarie, Shah Alam, Malaysia. Pursuant to the joint venture agreement, LPSB and LMSB will collectively hold 55% equity interest in a special purpose vehicle set up for the joint venture whilst PCB will hold the remaining 45% equity interest. The estimated total project cost is approximately MYR 55 million based on 230 keys at an estimated cost of USD 60,000 per key and will be funded by through bank borrowings and internal resources. The joint venture parties will collaborate with an international hotel operator for the operations of the proposed hotel. The joint venture is in line with the core business of the company and will leverage on extensive experience in hospitality. The Board believes that the proposed hotel will create value for the Group and synergise with the Group’s other businesses. It is also an excellent opportunity for the Group to expand its hotel business beyond Australia, into Malaysia, which is in line with objective of delivering long term growth and enhancing future revenue and earnings stream. The Group’s equity participation in the joint venture will be funded through internal resources and/or borrowings and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year.
Paramount Corporation Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 17 16
Paramount Corporation Berhad reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenue of MYR 145,306,000, operating profit of MYR 33,077,000, profit before tax of MYR 32,870,000, net profit of MYR 25,541,000, net profit attributable to ordinary equity holders of MYR 23,912,000 or 5.65 sen per basic share and 5.52 sen per diluted share against revenue of MYR 115,261,000, operating profit of MYR 21,505,000, profit before tax of MYR 22,128,000, net profit of MYR 15,684,000, net profit attributable to ordinary equity holders of MYR 14,063,000 or 3.33 sen per basic share a year ago.
For the six months, the company reported revenue of MYR 258,635,000, operating profit of MYR 52,952,000, profit before tax of MYR 52,985,000, net profit of MYR 40,433,000, net profit attributable to ordinary equity holders of MYR 33,602,000 or 7.95 sen per basic share and 7.76 sen per diluted share against revenue of MYR 280,258,000, operating profit of MYR 54,467,000, profit before tax of MYR 55,718,000, net profit of MYR 40,509,000, net profit attributable to ordinary equity holders of MYR 37,250,000 or 8.82 sen per basic share a year ago. Net cash used in operating activities of MYR 22,932,000 compared to MYR 2,277,000 a year ago. Purchase of property, plant and equipment of MYR 6,915,000 compared to MYR 17,607,000 a year ago.
Paramount Corporation Berhad Declares Interim Dividend for the Year Ending December 31, 2016, Payable on September 28, 2016
Aug 17 16
Paramount Corporation Berhad declared an single tier interim dividend of 2.50 sen per share for the year ending December 31, 2016, payable on September 28, 2016. EX-date is September 07, 2016 and entitlement date is September 09, 2016.