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September 05, 2015 1:03 AM ET

Real Estate Management and Development

Company Overview of Paramount Corporation Berhad

Company Overview

Paramount Corporation Berhad, an investment holding company, engages in property development, construction, and education businesses in Malaysia. The company develops residential and commercial properties; constructs buildings; 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 Corporation Berhad in 1980. Paramount Corporation Berhad was incorporated in 1...

Uptown 1

Level 8

1 Jalan SS21/58

Damansara Uptown

Petaling Jaya,  47400

Malaysia

Founded in 1969

Phone:

60 3 7712 3333

Fax:

60 3 7712 3322

Key Executives for Paramount Corporation Berhad

Chairman and Member of Remuneration Committee
Age: 66
Total Annual Compensation: $1.8M
Compensation as of Fiscal Year 2013.

Paramount Corporation Berhad Key Developments

Paramount Corporation Berhad Reports Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015

Paramount Corporation Berhad reported unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company’s revenue was MYR 115.261 million against MYR 133.2 million for same period a year ago. Operating profit was MYR 21.5 million against MYR 23.9 million for same period a year ago. Profit before tax was MYR 22.1 million against MYR 24.8 million for same period a year ago. Profit attributable to owners of the company was MYR 14.1 million against MYR 18.2 million for same period a year ago. Basic EPS attributable to owners of the parent was 3.33 sen against 5.05 sen a year ago. Property, plant and equipment additions were MYR 15.6 million. Group revenue decrease due principally to the Group's cessation of its external construction business. For the six months, the company’s revenue was MYR 280.3 million against MYR 232.0 million for same period a year ago. Operating profit was MYR 54.5 million against MYR 46.8 million for same period a year ago. Profit before tax was MYR 55.7 million against MYR 48.6 million for same period a year ago. Profit attributable to owners of the company was MYR 37.3 million against MYR 37.7 million for same period a year ago. Basic EPS attributable to owners of the parent was 8.82 sen against 10.48 sen a year ago. Net cash used in operating activities was MYR 2.3 million against net cash generated from operating activities of MYR 8.7 million a year ago. Purchase of property, plant and equipment was MYR 17.6 million against MYR 65.7 million a year ago. Purchase of investment properties was MYR 21.7 million against MYR 4.7 million a year ago.

Paramount Corporation Berhad Declares Interim Dividend, Payable on 25 September 2015

Paramount Corporation Berhad declared interim single tier dividend of 2.50 sen per share, payable on 25 September 2015. The entitlement date is 10 September 2015, ex-date is on 08 September 2015.

Paramount Corporation Appoints Chew Sun Teong as Chief Financial Officer

Paramount Corporation has appointed Chew Sun Teong as Chief Financial Officer. The effective date is June 08, 2015. Mr. Chew was appointed as the Group Chief Executive Officer of Paramount Corporation Berhad (Paramount) on 1 July 2014. He has 28 years of experience in the banking and finance industry as well as in accounting and tax/auditing. An accountant by training, he started his career at PricewaterhouseCoopers (PwC) where he served for five years. He left PwC in 1991 to join the banking industry with Citibank Berhad for 12 years and OCBC Bank (Malaysia) Berhad for 11 years. Prior to joining Paramount, Mr. Chew was the Chief Executive Officer (CEO) of OCBC Bank (Malaysia), a position that he has held for six years.

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