Latest news with #EdwinTanPeiSeng
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 Sun
28-04-2025
- Business
- The Sun
Paragon Globe launches flagship sales gallery, marking new milestone in Johor Bahru
JOHOR BAHRU: Bursa Malaysia Main Market-listed property developer Paragon Globe Bhd opened its flagship PGB Experience Gallery property showcase today. Strategically located in Johor Bahru city centre, the gallery marks a significant milestone in Paragon Globe's growth journey and underscores the company's commitment to sustainable and innovative property developments. Situated along Taman Century Jalan Seladang, opposite the Grand Paragon Hotel Johor Bahru, the two-storey PGB Experience Gallery occupies 0.55 acres of prime freehold land. Completed within six months at an investment of RM10 million, this contemporary gallery is thoughtfully designed as a versatile and flexible space, ideal for showcasing the diverse range of Paragon Globe's upcoming residential and commercial projects. Paragon Globe executive chairman Datuk Seri Edwin Tan Pei Seng said this Experience Gallery is not just a sales office but a symbol of the company's ongoing dedication to innovation, sustainability, and customer-centric development. 'We created this gallery to give our visitors an immersive experience of our upcoming and future projects and reflect our vision for sustainable urban living in Johor Bahru,' he said in a statement. The ceremony was officiated by Johor state committee for youth, sports, entrepreneur development and cooperatives chairman Mohd Hairi Mad Shah and Johor Bahru Mayor Datuk Mohd Haffiz Ahmad. Also attending the events were Johor state economic and investment adviser Datuk Hasni Mohammad and Consul-General of Singapore in Johor Bahru Ng Kuan Khai. They were accompanied by key representatives from PGB, including group executive director Datuk Seri Godwin Tan Pei Poh and independent non-executive director Datuk Ismail Karim and Datuk Jeffrey Lai Jiun Jye. The gallery features six fully furnished show units representing two major upcoming high-rise residential projects – Calia Residences and The Iconic. Calia Residences marks the first phase of PGB's flagship residential development in the vibrant district of Danga Bay, Johor Bahru. The high-rise development will comprise 1,274 serviced apartment units across two towers, with Tower A's 637 units slated for launch in June 2025 and expected to be completed by the fourth quarter of 2029. Complementing this is The Iconic, an upcoming high-rise residential project strategically in Johor Bahru city centre, just minutes from the Johor Bahru Customs, Immigration, and Quarantine Complex. Designed to redefine modern urban living, The Iconic will feature 1,510 serviced apartment units spread across two elegant towers. 'These developments reflect Paragon Globe's unwavering commitment to sustainable and responsible urban growth,' said Tan. 'Both Calia Residences and The Iconic have been thoughtfully designed with the goal of achieving GreenRE Gold certification, reinforcing our dedication to energy efficiency, water conservation, and environmental protection. 'By aligning with Johor Bahru City Council's sustainable initiative, Pelan Tindakan Pembangunan Mampan Bandaraya Johor Bahru 2035, we proudly contribute to the city's transformation towards a greener, smarter, and more resilient urban centre,' said Tan. Looking ahead, Paragon Globe is optimistic about Johor's economic and infrastructure developments, such as the Rapid Transit System and the Johor-Singapore Economic Zone. These initiatives are expected to stimulate further demand for high-quality residential and commercial spaces.
