Paramount to acquire more land

KUALA LUMPUR (April 17): Paramount Corp Bhd plans to acquire more land in the Klang Valley to expand the property developer's landbank, executive deputy chairman Datuk Teo Chiang Quan said.

Teo said Paramount's proposed land acquisitions will add on to the firm's 779 acres (312ha) of undeveloped tracts.

"We are looking to develop land in Sungai Petani, Bukit Banyan in 2014," Teo said after the company's AGM today.

Paramount's education segment will also improve in anticipation that the new campus will be established by 2015, he said.

"We hope that the shareholders will ride along with the company's success," said Teo.

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