Latest news with #ParagonGlobe
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
Paragon Globe, Bridge Data Centres revise terms of two Johor land deals
KUALA LUMPUR: Paragon Globe Bhd 's wholly-owned subsidiary, Paragon Business Hub Sdn Bhd (Paragon Business Hub), has entered into supplemental letters with Bridge Data Centres Malaysia VI Sdn Bhd to amend mutually agreed-upon provisions relating to two land disposals in Johor. Last year, Paragon Business Hub entered into conditional sale and purchase agreements (SPAs) with Bridge Data to dispose of 19.36 hectares of land and 8.00 hectares of land in Johor Bahru for RM238.32 million and RM98.98 million in cash, respectively. In a filing with Bursa Malaysia today, Paragon Globe said Paragon Business Hub has entered into a second supplemental letter with Bridge Data to amend the mutually agreed-upon provisions relating to the 19.36-hectare land and to impose additional obligations on Paragon Business Hub. It said the proposed land SPA variations were mutually agreed upon between Paragon Business Hub and Bridge Data to accommodate changes necessitated by practical considerations, including timeline adjustments and additional conditions. Meanwhile, Paragon Globe said the proposed land SPA variations for the eight-hectare land are intended to address practical challenges related to the original timelines and conditions outlined in the initial agreement. "These revisions reflect the mutual agreement and ongoing developments between Paragon Business Hub and Bridge Data, accommodating adjustments to timelines and conditions that are no longer feasible within the originally stipulated period,' it said. Paragon Global added that the proposed land SPA variations would not affect its issued share capital, the substantial shareholders' shareholding in PGB, the group's net asset per share, gearing, earnings and earnings per share. - Bernama
Independent Singapore
09-05-2025
- Business
- Independent Singapore
Johor businesses urged to tap JS-SEZ for growth and investment opportunities
MALAYSIA: Businesses in Johor have been strongly encouraged to capitalise on the opportunities presented by the Johor-Singapore Special Economic Zone (JS-SEZ). The project is expected to become a key driver of regional economic growth. Mohd Hairi Mad Shah, chairman of the state youth, sports, entrepreneur development and cooperatives committee, underscored the immense potential of the JS-SEZ to elevate local enterprises, particularly small and medium-sized enterprises (SMEs), to new heights. 'This zone is designed as a platform that offers major opportunities to expand networks, increase investments, and leverage attractive incentives that will be provided by the government,' Mr Mohd Hairi said during the opening of Paragon Globe Bhd's (PGB) sales gallery in Johor Bahru, as quoted by The Star. JS-SEZ benefiting Johor's SMEs Mr Mohd Hairi noted that JS-SEZ will offer new opportunities for companies to grow their market and be more competitive. It is expected to offer government-backed incentives, improved infrastructure, and enhanced cross-border market access, making the JS-SEZ an attractive for businesses seeking expansion. For SMEs, the JS-SEZ offers chances to form new partnerships, get funding, and receive support—all of which play important roles to help grow their businesses. By joining the JS-SEZ's vision, local companies can reach regional and global markets while strengthening their place in Johor's economy. A milestone for Johor's business ecosystem The opening of PGB's new sales gallery, where Mr Mohd Hairi made his remarks, was described as a significant milestone for both the company and the state. Located along Jalan Seladang in Taman Century, the two-storey gallery was completed in just six months, representing a RM10 million investment. PGB executive chairman Edwin Tan and Johor Bahru mayor Datuk Mohd Haffiz Ahmad also attended the opening event. Public sentiments shown in social media The announcement of the JS-SEZ has garnered positive reactions from the public. Many express optimism about the potential for business expansion and increased investments. 'Big opportunity! Businesses expanding, investments flowing,' one user stated. 'Let's be clear, Singapore's economic strength comes from our SMEs, who are our biggest tax revenue contributors. Good news for them,' shared one user on social media. This emphasises the vital role SMEs play to ensure the success of this project. However, some users were concerned about how this will be an advantage for ordinary citizens and small local businesses. One comment questioned, 'How will this benefit a regular citizen and small businesses? Between Malaysia and Singapore, who will really gain anything?'. Such questions show the importance of communication from authorities to ensure the benefits of the JS-SEZ are shared equitably. Ensuring JS-SEZ's success for the future Johor's community is urged to explore the incentives and infrastructure improvements offered as JS-SEZ begins to take shape. The zone is set to improve trade, manufacturing, and services, reinforcing Johor's position as a leading economic hub in the region. By taking advantage of the JS-SEZ's potential, Johor's businesses have the opportunity to grow, increase investment inflows, and play a big role in driving the state's long-term success. Read also: Singapore SMEs eye JS-SEZ for growth amid rising costs and global trade tensions
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.
