Paramount Corp to continue monetising RM750m in non-core assets to boost returns
“There’s a lot of effort going into monetising the three campuses, the hotel and the office.
“There’s a lot of effort going into monetising the three campuses, the hotel and the office.
“But we are now re-studying whether we could do a whole redevelopment.
The company is seeking its shareholders’ approval for the proposed business diversification, as the property development is expected to contribute at least 25% to its net profits and net assets in the future.
The initial property portfolio includes the Bukit Tinggi Shopping Centre, which will be acquired from Gemilang Waras Sdn Bhd, a wholly-owned unit of WCT, for RM680 million, with RM350 million settled in units and RM330 million in cash.
Under the contract, EPB is to provide traffic management plan and control services for sections one and two of the Kuala Lumpur-Karak Highway for four years, starting Monday until March 2, 2029.
Find out the y-o-y median transacted price movements of four of PJ’s most popular locales as of Oct 31, 2024 — based on EdgeProp Research and EPIQ platform.
X Park Bandar Seri Impian will feature a range of extreme sports and leisure activities, including a go-kart track, ATV rides, a golf driving range, badminton and pickleball courts, rock climbing, archery, cafés and pro shops.
The contract, awarded by Eco Sanctuary Sdn Bhd, covers phases one to four of the proposed Seruma Integrated Development at Eco Santuari, according to a bourse filing.
The IPO, priced at 88 sen per share, comprises 132 million new shares and an offer for sale of 59 million existing shares, according to the prospectus released on Friday.
On the property development segment, Kerjaya said development projects have contributed positively to the group's results.