The changes in the issued and paid-up share capital of Paramount Corporation Berhad since its incorporation are as follows:
DATE OF ALLOTMENTCONSIDERATIONNO. OF ORDINARY SHARES ALLOTED17 Mar 20Issued RS under the LTIP at an issue price of RM0.991 per share1,107,00017 Mar 20Issued PS under the LTIP at an issue price of RM0.731 per share1,693,20017 Mar 20Issued PS under the LTIP at an issue price of RM0.987 per share3,041,10017 Mar 20Issued RS under the LTIP at an issue price of RM1.277 per share957,40017 Mar 20Issued RS under the LTIP at an issue price of RM1.46 per share962,70025 Jul 19Bonus issue on the basis of two(2) bonus shares for every five(5) existing ordinary shares173,337,84620 Mar 19Issued RS under the LTIP at an issue price of RM1.885 per share690,30020 Mar 19Issued RS under the LTIP at an issue price of RM1.48 per share803,80020 Mar 19Issued PS under the LTIP at an issue price of RM1.087 per share2,841,30020 Mar 19Issued RS under the LTIP at an issue price of RM1.312 per share737,40015 Mar 18Issued RS under the LTIP at an issue price of RM1.33 per share612,30015 Mar 18Issued RS under the LTIP at an issue price of RM1.38 per share750,30015 Mar 18Issued RS under the LTIP at an issue price of RM1.58 per share811,90015 Mar 18Issued performance-based ordinary shares (PS) under the LTIP at an issues price of RM1.09 per share1,801,50020 Mar 17Issued RS under the LTIP at an issue price of RM1.39 per share748,90020 Mar 17Issued RS under the LTIP at an issue price of RM1.43 per share613,60017 Mar 16Issued restricted ordinary shares (RS) of RM0.50 each under the Long Term Incentive Plan of the Company (LTIP)669,1006 Aug 14Rights issue on the basis of every one (1) new ordinary share for every four (4) existing ordinary shares of RM0.50 each held at an issue price of RM1.10 per share84,452,86423 Jun 11Bonus issue on the basis of two (2) new ordinary shares for every five (5) existing shares held48,258,77923 Jun 11Subdivision of entire issued and paid-up capital of 168,905,728 ordinary shares of RM1.00 each into 337,811,456 ordinary shares of RM0.50 each168,905,7284 Jan 10 – 26 Aug 10Issued 10,308,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM3.07 per share10,308,0001 Apr 09 – 1 Dec 09Issued 2,308,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share2,308,0002 Jan 08 – 3 Oct 08Issued 468,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share468,0004 Jan 07 – 3 Dec 07Issued 3,437,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share3,437,00031 Oct 05 – 1 Dec 06Issued 541,000 shares pursuant to exercise of ESOS at a cost of RM2.01 per share574,00015 Dec 98 – 2 Aug 03Issued 5,662,000 share pursuant to exercise of Employee Share Option Scheme (ESOS) at a cost of between RM1.00
@whitebunny RM1.30 / RM1.40 - current share price is 75% from its highs at the point of typing... current price is very attractive as dividend payout is high & at this price there is ample margin of safety
Demand for co-working space is not only seen in the CBDs, but also in the fringes of KL and other smaller cities in the country
by S BIRRUNTHA/ pic by MUHD AMIN NAHARUL
THE co-working space industry is expected to see exponential growth in the coming years as more Malaysians are shifting towards the new-world concept of working in flexible areas.
IWG plc Malaysia, Brunei, and Indonesia country head Vijayakumar Tangarasan said the demand for co-working space is not only seen in the central business districts (CBDs), but also in the fringes of Kuala Lumpur (KL) and other smaller cities in the country.
“We see larger growth opportunities for the shared space industry in Malaysia, with more competitors coming into the market.
“In Malaysia, our growth year-on-year (YoY) stands at 50%, and among the Asian countries, we are leading from this perspective.
“So, this flexible space industry will continue to grow. The traditional office will not go away totally, but it is going to be minimised,” he said after a panel discussion organised by co-working space provider, Spaces, in KL yesterday.
He added that the globalisation process, as well as digital growth, has driven more Malaysians, especially the millennials demanding flexible working culture.
“People are embracing the flexible working culture because they are trying to be in a community-based place. They also want to work closer to home,” he said.
Vijayakumar also said in foreign countries like the Netherlands, flexible working is ingrained in their culture that it has become a part of their legislation.
According to JLL Asia-Pacific Research, flexible workspace supply grew by 36%, making KL the fastest-growing key city in the Asia-Pacific region.
Meanwhile, Spaces hosted a panel discussion with several industry leaders to share their insights on the benefits and effects of flexible working.
JLL Malaysia office and retail leasing team leader James Short said businesses are adapting to flexible working models to stay relevant and meet the needs of a new generation of workers.
“It is essential for flexible workspace providers to be able to cater to companies who look to provide their employees with a good working environment which fosters creativity and a sense of community,” he said during the panel discussion.
The discussion also highlighted that businesses are compelled to adopt flexible working models to avoid facing the risk of lagging behind in an ever-changing working world.
It was also noted that utilising remote work and flexible schedules help engage and retain talents, while improving employee productivity and ultimately can lead to business growth.
IWG, which owns the operating brands of Spaces and Regus, is expected to establish more working spaces in the country this year.
The company said it is looking into areas like Cyberjaya and Penang for its expansion plans, as there are a lot of enquiries from the small and medium enterprises, as well as start-ups.
Currently, in Malaysia, IWG has 32 branches of co-working space under Regus and four branches of co-working space under Spaces.
It recently launched its newest branch, Spaces Menara Prestige, located near the KL City Centre.
The centre boasts an office space that spans three floors across 4,989 sq m and furnished with meeting rooms and business lounges, as well as an on-site café.
Paramount will do well in this sector. In 2017, Paramount Corp Bhd decided to enter the fray by establishing Co-labs Coworking, which today operates 85,500 sq ft of space in four locations — Paramount Utropolis in Glenmarie, Starling Mall in Petaling Jaya, Naza Tower in Kuala Lumpur and Sekitar26 in Shah Alam.
Of the four, the workspace in Sekitar26 Enterprise — a component of Sekitar26 by Paramount Property Development Sdn Bhd — is the latest. Meanwhile, the group plans to extend the space in Starling Mall by 15,000 sq ft in the near future.
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In July, the developer moved its headquarters from Kota Kemuning to Co-labs Coworking in Sekitar26, taking up 15,000 sq ft of the total 35,000 sq ft.
“I think we are the first property developer to make this move … not only the first developer but also the first company of this size to move into a coworking space,” says Beh Chun Chong, CEO of Paramount Property.
Its new headquarters has a sports concept, which is in line with the “Happy Healthy You” campaign that the developer started last year, he adds. City & Country was recently given a tour of the office, which is tucked away in a private section within the coworking space.
Other than promoting good health, the concept is meant to remind the group’s staff of the importance of teamwork and hard work, explains Beh. “The key to succeeding in sport is teamwork and training hard enough.”
According to him, one of the reasons the developer decided to relocate was to future-proof itself. “The current workforce [in the country] is made up of more millennials. This (coworking) is the trend seen around the world … the new office style. So, we decided to take this bold step to move our business to the next level.”
Co-labs Coworking has an open concept and this helps to shorten the business and decision-making processes. Flattening a company’s hierarchy would also help speed up these processes. “It is our group CEO Jeffrey Chew’s intention to collapse the levels to a minimum of four. Everyone would be able to give us their opinions and feedback, and if they have any ideas, they would be able to share them with us,” says Beh.
Another reason he cites for the relocation is the flexibility of being able to work in other spaces run by Co-labs Coworking, which has a passport system and affords its members access to its other workspaces.
“One of the issues we had in the past was that our property headquarters in Kota Kemuning was quite far from our group headquarters in Petaling Jaya or even from the offices of some of our consultants, which are in Kuala Lumpur. Logistics-wise, it was a waste of time to travel around to meet people. By moving into a coworking space, we have the flexibility to multiply our office and presence. I call it ‘flexi-venue’,” Beh points out.
Currently, Paramount Property is going through digitisation because flexi-workspaces have fewer storage areas compared with conventional offices.
“This is also to future-proof our business and to make our business processes more efficient and competitive. Moving into this coworking space was the catalyst — it forced us to expedite digitisation, and by being here, everyone can feel the vibe and the benefits,” remarks Beh.
Two months in and he says he can see more interaction and energy among the staff now that everyone is in the same space. “Previously, we occupied a 5-storey building. So each department was on a different level. The first change I have noticed is that I see my colleagues from the other departments more often now as before this, I seldom went to the other levels.”
back to pre-news price KUALA LUMPUR: Paramount Corp Bhd's shares on Bursa Malaysia edged up in early trade Friday after announcing the acquisition of prime land near KLCC.
The property developer rose 2.86%, or 2.5 sen to 90 while Paramount-WA shed 8.33%, or one sen to 11 sen.
Paramount is acquiring 4.54 acres of prime freehold land with buildings at Jalan Ampang Hilir, Kuala Lumpur for RM243.8mil, cash.
It is acquiring the property, which has a 20-storey building with service suites and 132 units of low-rise condominiums situated on it, from the subsidiaries of Singapore-listed Wing Tai Holdings Ltd.
Paramount said the acquisition would be funded by a combination of internally generated funds and bank borrowings.
With its close proximity of about 2.5km to KLCC and its mature as well as prestigious neighbourhood, Paramount said it plans to re-develop both pieces of land into a premium high-rise residential development consisting of about 650 units of condominiums.
“With a projected gross development value (GDV) of RM863mil to be generated from the proposed development over a period of five years, the proposed acquisition will further strengthen the group’s current total expected GDV of RM6.8bil to RM7.7bil and contribute positively to its future earnings,” it said.
wait for paramount to get Digital banking license. Since then, a few more have openly expressed interest, including Sunway Bhd, Green Packet Bhd, gaming firm Razer Inc and Hong Kong-based investment banking firm AMTD Group. Property firm Paramount Corp Bhd and US financial start-up MoneyLion Inc were also reported to be keen.
According to Lee, the companies remain keen on a licence, but the banks are less so. “I haven’t heard of anyone who has dropped out. The interest is still there, I would say. But, for the banks, we gather that they are not so keen on the licences because they feel that the Bank Negara guidelines didn’t give them regulatory arbitrage. So, I think, a lot of the banks feel that it may not be worthwhile to apply for a licence.”
He points out that even if they were to apply for a licence, it may take two to three years for them to actually set up their digital bank. “So, a lot of the incumbent banks are thinking that there is no point to wait so long, when under their current licensing regime, they can actually launch their own version of a digital bank. I think many of the incumbents are planning to do that before the new players come on board.”
CEO paramount Jeffrey, likely to get digital banking license with his proven financial background, etc.
Fundaztic is actually fully owned and managed by Peoplender Sdn Bhd which was established in December 2015. Peoplender was started solely to apply and obtain the peer-to-peer Financing (P2P) operating license given by the Securities Commission (SC) of Malaysia.
In November 2016, Peoplender Sdn Bhd was one of the 6 companies out of over 50 applicants to receive the license to operate P2P Financing in the country registered with SC. Fundaztic eventually went live in July 2017.
Fundaztic P2P Financing is basically a fully online, debt based crowdfunding platform where SMEs can apply for funding for their business without leaving the comforts of their office/home.
On the other hand, individual or institutional investors who are looking to invest and grow their wealth can now crowdfund into the debt of these SMEs and in return, gain from the interest on the repayments from the SMEs.
It all started thanks to the company’s founder and chairman, Jeffrey Chew who realised that there was a big gap for funding among SMEs in the country, especially for small, micro-enterprises and startups.
“Many of these businesses aren’t being serviced by traditional Financial Institutions (FIs) not due to them not being credit-worthy but mainly due to certain regulations and policies set by the FIs,” said Calvin Foo, Fundaztic’s Outreach and Engagement Lead.
Fundaztic is made up of a core team with over 50 years combined experience in banking and law. The founder and non-executive chairman of Fundaztic, Jeffrey Chew has had a stint in Citibank and was also the Director and CEO of OCBC Bank for six years. He is also currently the Group CEO of Paramount Corporation Bhd.
Kristine Ng is the Director and Founding CEO of Fundaztic. Prior to her role in Fundaztic, Kristine was the Executive Vice President (Business Development) at the Credit Guarantee Corporation (CGC).
Michael Ooi is the co-founder and Director of Fundaztic. Besides his work as a Managing Partner of a law firm, he has been serving as an Independent Non-Executive Director for various Bursa listed companies since 2003.
Gary Tan is another co-founder and Director of Fundaztic. He has over 30 years of experience in both business and risk management with particular emphasis on SME lending. During his tenure with OCBC Bank, he was responsible for developing Malaysia’s first end-to-end SME lending model—the Enterprise Mass Market Model.
Summary from 25/02/2011 to 10/09/2019 Highest Price 3.8900 First Occurred on 25/02/2011 Lowest Price 1.2500 First Occurred on 07/06/2016 Highest Volume 8.000m First Occurred on 12/07/2012
If using 1 year low as your guide...63 cents is your lowest....73 cents is just 10 cents more than 63 cents...it already provided you with a large enough margin of safety....with lots of potential upside
I rather focus on mid-cap stocks that have not recovered like paramount. I do not like excessive risks for those stocks that had risen to sky high level. :)
Stockbroker turning cautious on glove and healthcare stocks CORPORATE NEWS Saturday, 15 Aug 2020
hope the CEO of paramount, able to get the digital banking license with his background. 
New venture: StanChart headquarters in London. Foreign banks that ‘substantially’ exceed the SRFB criteria may be allowed to establish a digital-only bank, according to MAS. — AFP
SINGAPORE: Standard Chartered Plc is planning its second digital-only bank in Asia, teaming up with a unit of Singapore’s biggest labour union, according to sources.
The London-based bank would hold a majority stake in the new venture, with the remainder held by NTUC Enterprise, a division of the National Trades Union Congress that also runs a chain of more than 100 supermarket outlets across Singapore, said the sources.
Alex Twigg, co-founder of Australian startup Judo Bank, has been hired for the business, which has been code-named “Project Phoenix, ” the sources added.
Standard Chartered is accelerating its digital strategy in Singapore to compete with larger local rivals such as DBS Group Holdings Ltd and non-bank challengers including Grab Holdings Inc, which has applied for one of the country’s digital licences.
The Monetary Authority of Singapore (MAS), the financial regulator, will hand out as many as five digital licences to non-banks this year.
Talks on Standard Chartered’s new initiative with NTUC are ongoing and the plan is at an early stage, said the sources.
Standard Chartered and its local partners obtained a digital-only bank licence in Hong Kong last year.
Known as Mox, it’s not fully operational yet, but the bank said in its earnings report late last month that it will be launched “very soon.” It also has several digital banks in Africa.
MAS had said earlier this month it plans to revise rules governing foreign lenders with a substantial local presence that may allow them to set up digital-only banking subsidiaries. It also designated Standard Chartered as the country’s first Significantly Rooted Foreign Bank (SRFB), reflecting the bank’s substantial presence in the city-state.
Foreign banks that “substantially” exceed the SRFB criteria may be allowed to establish a digital-only bank, it said.
A representative for Standard Chartered in Singapore declined to comment. NTUC didn’t immediately respond to a request for comment.Standard Chartered has increased its local workforce to 10,000 from 8,000 in the last few years, the bank said in a press release earlier this month.
Some 70% of the local management team is Singaporean, it said.
Judo Bank focuses on lending to small and medium-sized businesses, according to its website.
Twigg also helped found UBank, another online lender which is part of National Australian Bank Ltd, according to his LinkedIn profile.
Twigg left Judo in June, according to co-founder Joseph Healy. Twigg couldn’t be reached for comment. — Bloomberg
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Good123
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Posted by Good123 > 2020-08-04 13:43 | Report Abuse
Share Capital History
The changes in the issued and paid-up share capital of Paramount Corporation Berhad since its incorporation are as follows:
DATE OF ALLOTMENTCONSIDERATIONNO. OF ORDINARY SHARES ALLOTED17 Mar 20Issued RS under the LTIP at an issue price of RM0.991 per share1,107,00017 Mar 20Issued PS under the LTIP at an issue price of RM0.731 per share1,693,20017 Mar 20Issued PS under the LTIP at an issue price of RM0.987 per share3,041,10017 Mar 20Issued RS under the LTIP at an issue price of RM1.277 per share957,40017 Mar 20Issued RS under the LTIP at an issue price of RM1.46 per share962,70025 Jul 19Bonus issue on the basis of two(2) bonus shares for every five(5) existing ordinary shares173,337,84620 Mar 19Issued RS under the LTIP at an issue price of RM1.885 per share690,30020 Mar 19Issued RS under the LTIP at an issue price of RM1.48 per share803,80020 Mar 19Issued PS under the LTIP at an issue price of RM1.087 per share2,841,30020 Mar 19Issued RS under the LTIP at an issue price of RM1.312 per share737,40015 Mar 18Issued RS under the LTIP at an issue price of RM1.33 per share612,30015 Mar 18Issued RS under the LTIP at an issue price of RM1.38 per share750,30015 Mar 18Issued RS under the LTIP at an issue price of RM1.58 per share811,90015 Mar 18Issued performance-based ordinary shares (PS) under the LTIP at an issues price of RM1.09 per share1,801,50020 Mar 17Issued RS under the LTIP at an issue price of RM1.39 per share748,90020 Mar 17Issued RS under the LTIP at an issue price of RM1.43 per share613,60017 Mar 16Issued restricted ordinary shares (RS) of RM0.50 each under the Long Term Incentive Plan of the Company (LTIP)669,1006 Aug 14Rights issue on the basis of every one (1) new ordinary share for every four (4) existing ordinary shares of RM0.50 each held at an issue price of RM1.10 per share84,452,86423 Jun 11Bonus issue on the basis of two (2) new ordinary shares for every five (5) existing shares held48,258,77923 Jun 11Subdivision of entire issued and paid-up capital of 168,905,728 ordinary shares of RM1.00 each into 337,811,456 ordinary shares of RM0.50 each168,905,7284 Jan 10
– 26 Aug 10Issued 10,308,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM3.07 per share10,308,0001 Apr 09
– 1 Dec 09Issued 2,308,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share2,308,0002 Jan 08
– 3 Oct 08Issued 468,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share468,0004 Jan 07
– 3 Dec 07Issued 3,437,000 shares pursuant to exercise of ESOS at a cost of between RM 1.66 and RM2.20 per share3,437,00031 Oct 05
– 1 Dec 06Issued 541,000 shares pursuant to exercise of ESOS at a cost of RM2.01 per share574,00015 Dec 98
– 2 Aug 03Issued 5,662,000 share pursuant to exercise of Employee Share Option Scheme (ESOS) at a cost of between RM1.00