Real Estate Management and Development
Company Overview of Paramount Corporation Berhad
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
Key Executives for Paramount Corporation Berhad
Chief Executive Officer, Chief Financial Officer and Executive Director
Total Annual Compensation: 1.8M
Chairman and Member of Remuneration Committee
Total Annual Compensation: 2.3M
Compensation as of Fiscal Year 2015.
Paramount Corporation Berhad Key Developments
Paramount Corporation Berhad Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
Feb 10 17
Paramount Corporation Berhad reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported revenue MYR 179,729,000 against MYR 148,059,000 a year ago. Operating profit was MYR 39,348,000 against MYR 22,576,000 a year ago. Profit before tax was MYR 37,802,000 against MYR 22,740,000 a year ago. Profit attributable to ordinary equity holders of the company was MYR 30,255,000 or 6.98 sen per diluted share against MYR 14,901,000 or 3.48 sen per diluted share a year ago. Additions of property, plant and equipment was MYR 4,722,000. Effective tax rate for the current quarter and financial year to date was lower than the statutory income tax rate in Malaysia due to certain income received was subject to lower tax rate and the Group also benefited from certain tax incentive.
For the year, the company reported revenue MYR 573,141,000 against MYR 576,034,000 a year ago. Operating profit was MYR 118,162,000 against MYR 102,495,000 a year ago. Profit before tax was MYR 112,477,000 against MYR 101,694,000 a year ago. Profit attributable to ordinary equity holders of the company was MYR 75,016,000 or 17.32 sen per diluted share against MYR 67,681,000 or 15.82 sen per diluted share a year ago. Net cash generated from operating activities was MYR 9,098,000 against MYR 87,522,000 a year ago. Purchase of property, plant and equipment was MYR 20,251,000 against MYR 39,361,000 a year ago. EBITDA was MYR 140.9 million against MYR 126.6 million a year ago. ROE was 8.4% compared to 7.9% a year ago.
Paramount Corporation Berhad Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
Nov 23 16
Paramount Corporation Berhad announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of MYR 134,777,000 against MYR 147,717,000 a year ago. Operating profit was MYR 24,111,000 against MYR 24,118,000 a year ago. Profit before tax was MYR 21,690,000 against MYR 23,236,000 a year ago. Profit attributable to ordinary equity holders of the company was MYR 11,159,000 or 2.58 sen per diluted share against MYR 15,530,000 a year ago. Purchase of property, plant and equipment was MYR 8,614,000.
For the nine months, the company reported revenue of MYR 393,412,000 against MYR 427,975,000 a year ago. Operating profit was MYR 78,814,000 against MYR 79,919,000 a year ago. Profit before tax was MYR 74,675,000 against MYR 78,954,000 a year ago. Profit attributable to ordinary equity holders of the company was MYR 44,761,000 or 10.33 sen per diluted share against MYR 52,780,000 a year ago. Net cash used in operating activities was MYR 29,323,000 against net cash generated from operating activities of MYR 41,811,000 a year ago. Purchase of property, plant and equipment was MYR 15,529,000 against MYR 20,613,000 a year ago.
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.
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