• Skip to primary navigation
  • Skip to content
Paramount Corporation Berhad
  • Company
    50th AnniversaryCorporate ProfileCorporate HistoryVision & Mission StatementCorporate StructureBoard of DirectorsSustainabilityCorporate Governance
  • Our Businesses
  • Investor Relations
    Financial HighlightsAnnual ReportsGeneral Meeting (Minutes)CircularsBursa AnnouncementsCorporate PresentationsStock InformationFinancial CalendarDividend HistoryShare Capital HistoryShareholdings AnalysisRegistrar
  • Contact Us
  • Careers
  • News & Events
    EventsNewsroomTRIBE
  1. Home
  2. Newsroom
  3. Paramount purchases land to expand Bukit Banyan township

Paramount purchases land to expand Bukit Banyan township

By Ethel Khoo

Bukit Banyan

An artist’s impression of the Bukit Banyan township’s main entrance. (Photo by Paramount)

PETALING JAYA (July 7): Paramount Corp Bhd purchased 137.1 acres (55.48ha) of freehold agriculture land to expand its existing 520-acre Bukit Banyan township (pictured) in Sungai Petani, Kedah.

Paramount group chief executive officer (CEO) Jeffrey Chew said its subsidiary Paramount Property (Utara) Sdn Bhd had entered into a sales and purchase agreement with BDB Land Sdn Bhd, a subsidiary of Bina Darulaman Bhd, yesterday to buy two parcels of land (62.6 and 74.5 acres respectively) for a total consideration of RM24 million.

The purchase will be funded by proceeds received from the divestment of Paramount’s pre-tertiary education business earlier this year.

As at March 31, Bukit Banyan had 178 acres of undeveloped land and a remaining potential gross development value (GDV) of RM498 million.

As published: EdgeProp

Legal Disclosure

© 2021 Paramount Corporation Berhad
Registration No: 196901000222 (8578-A) . All Rights Reserved.

PARAMOUNT CORPORATION BERHAD
Registration No: 196901000222 (8578-A)
Level 8, Uptown 1, 1 Jalan SS21/58
Damansara Uptown 47400 Petaling Jaya
Selangor Darul Ehsan, Malaysia

T   +603-7712 3333
F   +603-7712 3322