Paragon Globe completes RM64.47 mil Johor land disposal

PETALING JAYA (July 4): Paragon Globe Bhd has completed the disposal of a freehold land parcel in Tanjung Kupang, Johor Bahru, to GSP Automotive Malaysia Sdn Bhd for a cash consideration of RM64.47 million.

In a Bursa Malaysia filing yesterday, the group said its wholly owned subsidiary, PGB Landmark Sdn Bhd, completed the disposal of the land held under HS(D) 306837 PTD 3003 in the Mukim of Tanjung Kupang, measuring approximately 5.4451 hectares, pursuant to the terms of the sale and purchase agreement.

The proposed disposal was first announced on Dec 4, 2025, as a non-related party transaction under Chapter 10 of Bursa Malaysia's Main Market Listing Requirements.

Paragon Globe did not provide additional details in the latest announcement beyond confirming completion of the transaction.

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