kuala lumpur: After securing about 337 million from Johor’s 67 across the industrial land, PARAGON GLOBE BHD has set a clear path to use revenue to support growth and strengthen the company’s fiscal status. did.
DATUK SERI EDWIN TAN’s executive chairman said in the short term, RM112.17 million would be used for working on infrastructure and development costs on the DESA CEMERLANG, NUSAJAYA, and Danga Bay projects.
In addition, RM57 million is allocated to reducing debt and saves 3.07 million RM annual interest.
“Our focus is to secure the normal completion of the ongoing projects and explore new opportunities that match strategic goals. These initiatives have made Johor into the regional economic power. Tan can bring sustainable value to shareholders while contributing to transformation, “said Tan. Sunbiz。
Last December, the Paragongrove shareholder approved the disposal of 47.86 acres and 19.759 acres of free -hold industrial land in Johor’s Desacemelran, respectively, at RM238.32 million and RM98.98 million, respectively.
Tan stated that the disposition was completely matched with the Paragong Robe strategy, which optimized Land Bank and focused on high -value high -value development projects again. Specifically, the revenue from land disposal is led to strategic acquisition, borrowing repayment, and fund procurement and development projects.
“This movement is timely. The prospect of Johor’s growth is amplified by initiatives such as Johor Singapoa Economic Area (JS-SEZ), and has positioned the state as an investment in sector, such as digital economy and logistics. Tan says that we will support the state economic vision while optimizing shareholder value by contributing to digital infrastructure through transactions with the BDC.
TAN shares how disposal can improve shareholder value, and almost 337 million inflow of the company strengthens the company’s fiscal status and maintains powerful balance sheets, more effective. Tan stated that it would be possible to do it.
“In the next few years, we will concentrate resources in the total developmental value housing project, including the service apartment projects of Danga Bay and the Johorbal City Center and the land project of Iskandal Plati. Development is strategically positioned in major places that are ready for the economic growth driven by JS-SEZ and the enhanced connection.
“The inflow of talent, corporate, and economic activities through JS-SEZ is expected to increase the demand for high-quality housing properties, and these projects are adjusted to a wider area of regions. These. Tan said that the paragong gloves use the uppercase of Johol to the local economy to further enhance shareholder value, “said Tan.
He added that profits from land processing were clearly assigned to enhancing Paragon Globe’s core protati development portfolio, focusing on the completion of the continuous project.
“Specifically, 38 million RM revenue is used and funded for the construction of PEKAN SENTRAL PHASE 3 and D2 Type D2. Both are in Johor’s Pekan Nenas. These two projects are PGB. Tan is strategically important for growth trajectory, “says Tan.
PEKAN SENTRAL PHASE 3 is composed of 48 units, and the estimated total development costs were RM31.79 million, and construction started this month.
The D2 type D2 is a project of five separated factory, the estimated total development cost is 32.79 million, and the construction is scheduled for April.
“We are aiming to enhance our reliability and establish a powerful foundation that supports long -term growth strategies by guaranteeing that these projects are successfully completed. Paragon Globe has been exploring strategic opportunities in high-growth areas, such as healthcare infrastructure and sector in line with JS-SEZ, diversifying income and increasing shareholder value.
