Paramount shares flat on RM1b project development

26 December, PETALING JAYA – Shares of Paramount Corp Bhd was flat at RM1.77 this morning, despite announcing that it will undertake a residential development with an estimated gross development value (GDV) of RM1 billion in Selangor, together with landowner Kumpulan Hartanah Selangor Bhd.

At 11.14am, the stock stood at RM1.77 with 1,000 shares changing hands, bringing its market capitalisation to RM751 million.

The proposed development will involve the construction of four blocks of high-rise residential buildings consisting of 1,600 units of residential properties, including 20% affordable units.

It is expected to be completed within a period of 10 years commencing from 2018.