News about Paramount

A new landmark named The Atera is set to change the skyline of the established commercial and residential hub in Section 14 Petaling Jaya (PJ), Selangor.

“Our earnings recognition and future cash flow will be backed by our unbilled sales of RM1.

For the longest time, purchasing a house or commercial property is seen as a major milestone, a symbol of independence and a pathway to building wealth.

Phase one of The Atera consists of a block with 47 floors of 756 units affordable serviced apartment, four units business lot and six floors podium car park, which Paramount Corp’s unit Aneka Sepakat Sdn Bhd is developing.

Group chief executive director and executive director Jeffrey Chew Sun Teong said the 10% targeted sales growth is “conservative”, considering weaker market sentiment this year compared to last year amid concerns over high inflation and economic prospects.

Teo joined Paramount’s board as an executive director in August 2019, before being appointed as deputy group CEO in September 2021.

Paramount’s property division recorded revenue of RM225.

Paramount, whose core business is in property development, holds 30.

Its group chief executive officer Jeffrey Chew Sun Teong said that although the lingering economic uncertainties due to higher interest rate and inflation have dented buyer sentiment in general, new property launches planned for the rest of the year extend the group a stronger earnings prospect.

Paramount's property division recorded a 57% revenue jump to RM197 million from RM125.