KUALA LUMPUR: Property developer Paragon Globe Bhd’s (PGB) net profit surged to RM9.1 million for the second quarter (Q2) ending March 31, 2025 (FY25), a 2089.4% increase from the same period last year, driven by strong performance in its property development segment.
Profit before tax also reached a record high of RM12.7 million for the quarter.
PGB recorded a revenue of RM61.1 million in Q2 FY25, representing a year-on-year (YoY) increase of 257.4%.
The property development segment remained the group’s primary revenue driver, contributing over 99% of total revenue.
Key contributors to this strong performance included strategic land sales in Desa Cemerlang, Johor, and robust sales of detached factories and shop offices in Pekan Nenas, Johor.
“These exceptional results reflect our strategic focus on delivering high-value property development projects and effectively navigating market opportunities,” PGB executive chairman Datuk Sri Edwin Tan Pei Seng said.
“Our achievements in Desa Cemerlang and Pekan Nenas demonstrate the effectiveness of our strategy in capturing demand and driving performance,” he said.
For the cumulative six-month period of FY25, PGB’s revenue increased by 220.4% to RM84.1 million, and the group achieved a net profit of RM14.8 million, a turnaround from the net loss recorded in the first half of FY24.
Tan expressed optimism for the future, citing favourable economic conditions and recent strategic milestones as key growth drivers.
The recent signing of development rights agreements (DRA) with Iskandar Capital Sdn Bhd and Tropicana Danga Bay Sdn Bhd will enable the group to accelerate project timelines and leverage synergies with established partners.
Additionally, the upcoming PGB Tech Park in Nusajaya, set to launch in phases beginning Q1 2026, highlights the group’s commitment to sustainability and innovation through its targeted GreenRE Gold Certification and strategic positioning to attract industrial and commercial investments.
The broader momentum in Johor, driven by initiatives such as the Johor-Singapore Special Economic Zone and the Forest City Special Financial Zone, further reinforces PGB’s prospects.
Coupled with the group’s ongoing partnership with United Overseas Bank (Malaysia) Bhd to support green development projects, PGB is well-positioned for continued growth.
“Malaysia’s resilient economic outlook and the continued growth of Johor as a regional hub provide a strong foundation for our future initiatives,” Tan said.
“As we execute our newly secured development rights agreements and advance key projects, we are confident in our ability to deliver sustainable growth and unlock long-term value for our stakeholders.”
Paragon Globe Bhd is well-positioned for continued growth with its ongoing partnership with United Overseas Bank supporting the company’s green development projects.
