Paramount Corporation Berhad, an investment holding company, is engaged in the property development and investment, construction, and education businesses in Malaysia. It develops residential and commercial properties; constructs buildings; provides project management and engineering services; and is engaged in infrastructure, high-rise, school, and other public works. The company also operates private educational institutions, including college campuses in Damansara Jaya and Penang, which offers a range of degree, academic, professional, and commercial courses; and private schools that provide primary and secondary education services, as well as offers executive education and professional d...
1, Jalan SS21/58
Petaling Jaya, 47400
Founded in 1969
Paramount Corporation Berhad Proposes Single Tier Final Dividend for the Financial Year Ended 31 December 2014
Feb 26 15
The Board of Directors of Paramount Corporation Berhad proposed a single tier final dividend of 5.0 sen per ordinary share of MYR 0.50 each for the financial year ended 31 December 2014. The final dividend is subject to shareholders' approval at the forthcoming 45th Annual General Meeting of PCB, and the date of entitlement and date of payment of the dividend shall be determined by the Board at a later date.
Paramount Corporation Berhad Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 24 15
Paramount Corporation Berhad reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, revenue was MYR 157,656,000 against MYR 135,443,000 a year ago. Operating profit was MYR 14,716,000 against MYR 20,931,000 a year ago. Profit before tax was MYR 16,553,000 against MYR 21,313,000 a year ago. Profit for the period attributable to ordinary equity holders of the company was MYR 10,098,000 against MYR 14,356,000 a year ago. Basic earnings per share attributable to ordinary equity holders of the company were 2.39 sen against 3.99 sen a year ago. Group revenue increased by 16% due to the higher progressive billings registered by the property development segment. Profit before tax decreased by 22% due to lower PBT recorded by both the Property and Education Divisions.
For the full year, revenue was MYR 510,043,000 against MYR 512,073,000 a year ago. Operating profit was MYR 81,228,000 against MYR 73,557,000 a year ago. Profit before tax was MYR 85,756,000 against MYR 75,096,000 a year ago. PBT increased by 14% due to higher PBT recorded by the Property Division. Profit for the period attributable to ordinary equity holders of the company was MYR 62,474,000 against MYR 53,503,000 a year ago. Basic earnings per share attributable to ordinary equity holders of the company were 16.17 sen against 14.83 sen a year ago. Net cash generated from operating activities was MYR 45,616,000 against MYR 78,554,000 a year ago. Purchase of property, plant and equipment was MYR 170,361,000 against MYR 68,674,000 a year ago. Purchase of investment properties was MYR 32,328,000 against MYR 8,921,000 a year ago.
Paramount Plans Divestment Of Properties
Feb 11 15
Paramount Corporation Berhad (KLSE:PARAMON) is exploring the divestment of some of education facilities worth MYR 300 million to MYR 500 million, in line with the group's asset-light strategy for the education business. Chief Executive Officer Jeffrey Chew said "It could be the KDU campus in Glenmarie, or Sri KDU campus." He said Paramount is not looking at divesting the KDU College campus in Damansara Jaya as the group is considering redeveloping the site. "We are not divesting the education business as it is very profitable. We are looking at divesting one or two facilities so that we can focus on the business operation of the university. There are a couple of parties that approached us. We are in discussions exploring the opportunities" he said. Chew said Paramount would divest the said facilities and would then lease them back for the next 10 to 20 years. He added that the group can reinvest the divestment proceeds into its property project in Batu Kawan and for its private school business.