Paragon Globe completes RM11.5 mil Johor land acquisition

PETALING JAYA (July 9): Paragon Globe Bhd has completed the proposed acquisition of three parcels of land in Johor for a total cash consideration of RM11.48 million.

The property developer said in a Bursa Malaysia filing yesterday that its wholly owned subsidiary Paragon Globe Properties Sdn Bhd had completed the acquisition of three parcels held under GM 716 Lot 1428, GM 715 Lot 1430 and GM 718 Lot 1431 in Mukim Rengam, Kluang, Johor, in accordance with the terms of the sale and purchase agreement.

The three parcels measure approximately 3.51 hectares, 3.90 hectares and 4.43 hectares, respectively. The total cash consideration for the acquisition is RM11,475,253.86.

The completion announcement refers to the company’s earlier announcements dated October 13 and October 15, 2025 relating to the proposed acquisition, which was announced under Chapter 10 of Bursa Malaysia’s Main Market Listing Requirements as a related party transaction.

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