Latest news with #DatukSri
The Sun
29-05-2025
- Business
- The Sun
Paragon Globe Q4 profit soars to RM71.1m on strong land sales, property uptake
JOHOR BAHRU: Paragon Globe Bhd, a main market-listed property developer on Bursa Malaysia, achieved a substantial increase in revenue to RM151.5 million for the fourth quarter (Q4) ended March 31, 2025 (FY25), compared to RM7.9 million in the same quarter last year. Robust property development activities, significant land disposals, and effective operational management primarily drove the group's impressive performance. Profit before tax surged to RM71.1 million from RM2.0 million, with net profit attributable to the owners of the parent rising to RM53.4 million, a significant increase from RM1.3 million in Q4 FY24. The group's annual financial performance similarly showed exceptional growth. Revenue for FY25 rose significantly to RM306.3 million, an increase of more than 500% compared to RM51.0 million recorded in FY24. Profit before tax for the year increased significantly to RM140.2 million from RM0.8 million in the previous year. Net profit attributable to the owners of the parent reached RM105.6 million, making a remarkable turnaround from the net loss of RM1.2 million in FY24. Commenting on the results, Paragon Globe executive chairman Datuk Sri Edwin Tan Pei Seng said this year's outstanding financial performance underscores the strength of the company's strategic initiatives, prudent land bank optimisation, and diligent execution by the management team. 'The significant increase in our revenue and profitability highlights our successful execution of high-value land sales in Desa Cemerlang and strong market reception for our property developments in Pekan Nenas, Johor,' he said in a statement. The property development segment remained the group's primary revenue contributor, delivering RM151.5 million in Q4 FY25 and RM306.2 million for the full financial year. This impressive growth was primarily driven by strategic land sales and encouraging take-up of detached factories and shop offices. Paragon Globe also made significant progress on its sustainability agenda, signing a memorandum of collaboration with GreenRE Sdn Bhd in April 2025. This strategic collaboration will enable the group to adopt GreenRE's recognised certification standards, reinforcing its commitment to sustainable and responsible development in alignment with national ESG goals. 'We remain optimistic about the prospects ahead, particularly given Johor's accelerating development initiatives such as the Johor-Singapore Rapid Transit System and the Johor-Singapore Special Economic Zone. 'These initiatives are anticipated to stimulate economic activity and the property market, presenting substantial opportunities for our upcoming residential and industrial projects,' Tan said. Paragon Globe is firmly focused on sustaining its growth momentum by leveraging strategic opportunities, upholding disciplined financial management, prioritising sustainability, and delivering high-impact developments. With a solid project pipeline and continued market interest, the group is well-positioned to generate strong financial performance and long-term value for its shareholders and stakeholders.
The Star
16-05-2025
- Business
- The Star
Hextar Capital associate bags RM427.5mil TNB contract
KUALA LUMPUR: An associate company of Hextar Capital Bhd has secured a RM427.5mil contract by Tenaga Nasional Bhd for the establishment of a transmission main intake (PMU) 500/275kV gas insulated substation (GIS) in Gurun East, Kedah. In a press statement, Hextar Capital said Transgrid Ventures Sdn Bhd, a joint venture with CD Electrical Engineering Sdn Bhd, will supply, install and commission the GIS, complete with all primary and secondary systems as well as associated civil works. The contract is scheduled for completion within 730 days from the commencement date. "This project marks another strategic milestone for Transgrid and reinforces its capabilities in delivering large-scale, mission-critical infrastructure projects within the energy sector. "It also reflects the confidence that TNB has in our engineering capabilities and further solidifies our role in supporting the national grid and the country's energy development," said Hextar Capital managing director Johnson Chang. He added that the project is expected to contribute positively to the group's mid-term performance and order book visibility. "This will be the first 500kV GIS project in Malaysia, and Transgrid is proud to be given the opportunity by Tenaga Nasional to design and build this maiden project. "It is a significant milestone that reaffirms our capabilities and track record in high-voltage substation infrastructure," said Transgrid CEO and managing director Datuk Sri Nantha.
The Sun
08-05-2025
- Entertainment
- The Sun
Hard Rock Cafe brings legendary vibe to Genting's Grand Ion Majestic
GENTING HIGHLANDS: Hard Rock Cafe Genting Highlands has officially opened its doors to the public, marking its debut within the iconic Grand Ion Majestic (GIM). The globally recognised brand brings its signature fusion of rock 'n' roll spirit, acclaimed dining experience, and high-energy entertainment to one of Malaysia's leading resort destinations. Beginning April 30, guests will experience Hard Rock's renowned hospitality, savour signature menu items such as the Legendary Burger and hickory-smoked beef ribs, and browse exclusive merchandise at the Rock Shop. With its dynamic atmosphere, live entertainment, and strategic location, the newly launched Hard Rock Cafe is set to become a premier destination for both local patrons and international visitors. Hard Rock Cafe Genting Highlands is poised to become the ultimate entertainment hub, offering a dynamic lineup of featured DJs, live performers, and music events. Guests can anticipate themed nights highlighting a diverse range of genres—from timeless rock classics to modern chart-toppers—delivering a memorable experience every night of the week. Enhancing its appeal, the cafe offers exclusive poolside packages, allowing visitors to unwind at Southeast Asia's highest heated pool while enjoying handcrafted cocktails and panoramic views of Genting Highlands. 'We are thrilled to finally welcome guests to Hard Rock Cafe Genting Highlands, the seventh Hard Rock Cafe in Malaysia,' Hard Rock International vice president of franchise operations Tom Perez said. 'This opening begins an exciting journey, with our first Hard Rock in the clouds. We want to share our signature Hard Rock experience with everyone. Whether you're here for the food, the music, or the unbeatable vibes,' he said. While the grand opening celebration is set to take place in July, guests can now enjoy everything Hard Rock Cafe offers, from its rock-inspired ambience to its unforgettable dining and entertainment experiences. With a calendar full of upcoming events, themed nights, and poolside parties, there's always a reason to rock out at Hard Rock Cafe Genting Highlands. Hard Rock Cafe Genting Highlands is part of a vibrant new chapter by NCT Alliance Bhd at the Grand Ion Majestic (GIM). As GIM elevates Genting Highlands as one of its most enthralling lifestyle destinations, with its blend of distinctive accommodations, dining, and other attractions, Hard Rock Cafe is at the heart of it all, bringing its signature ambience to life 6,000 feet above sea level. NCT Alliance executive chairman and group managing director Datuk Sri Yap Ngan Choy said Hard Rock Cafe Genting Highlands is a milestone in NCT Alliance's ongoing efforts to redefine the guest experience at Genting Highlands. 'We are excited to integrate the world-famous Hard Rock energy and spirit into the GIM. 'This partnership reflects our commitment to strengthening Genting Highlands as a premier tourism destination while creating unforgettable moments for all who walk in through our doors,' he said.
