PARAMON

0.970

(%)

OTHERS PARAMOUNT CORPORATION BERHAD ("PARAMOUNT" OR "THE COMPANY") PROPOSED JOINT VENTURE BETWEEN PARAMOUNT AND MITSUI FUDOSAN (ASIA) MALAYSIA SDN BHD ("MFAM") THROUGH MERIDIAN KUASA SDN BHD ("MKSB"), A WHOLLY-OWNED SUBSIDIARY OF PARAMOUNT, FOR THE PROPOSED DEVELOPMENT OF LAND OWNED BY MKSB, TO BE IMPLEMENTED THROUGH THE PROPOSED DISPOSAL OF 49.00% EQUITY INTEREST IN MKSB TO MFAM FOR A TOTAL CASH CONSIDERATION OF RM23,055,762.00

PARAMOUNT CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description 
PARAMOUNT CORPORATION BERHAD ("PARAMOUNT" OR "THE COMPANY")

PROPOSED JOINT VENTURE BETWEEN PARAMOUNT AND MITSUI FUDOSAN (ASIA) MALAYSIA SDN BHD ("MFAM") THROUGH MERIDIAN KUASA SDN BHD ("MKSB"), A WHOLLY-OWNED SUBSIDIARY OF PARAMOUNT, FOR THE PROPOSED DEVELOPMENT OF LAND OWNED BY MKSB, TO BE IMPLEMENTED THROUGH THE PROPOSED DISPOSAL OF 49.00% EQUITY INTEREST IN MKSB TO MFAM FOR A TOTAL CASH CONSIDERATION OF RM23,055,762.00

The Board of Directors of Paramount wishes to announce that the Company, had on 4 November 2026, entered into a joint venture arrangement with MFAM pursuant to the following agreements:

 

(i)   a conditional share sale and purchase agreement with MFAM for the proposed disposal of 122,500 ordinary shares in MKSB, representing 49.00% of the issued shares in MKSB, for a total cash consideration of RM23,055,762.00; and

 

(ii) a joint venture agreement with MFAM and MKSB to regulate the respective rights and obligations of Paramount, MFAM and MKSB in relation to MKSB and the operations of MKSB,

 

(collectively referred to as "Proposed Joint Venture"). 

 

Please refer to the attachment for further details. 

 

This announcement is dated 4 November 2026.


Please refer attachment below.

Attachments

Paramount - Announcement dated 4 November 2026.pdf
456.2 kB


Announcement Info

Company Name PARAMOUNT CORPORATION BERHAD
Stock Name PARAMON
Date Announced 04 Nov 2026
Category General Announcement for PLC
Reference Number GA1-02112026-00054


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