Paramount Corporation Berhad (Paramount) announced that it has completed the acquisition of a freehold commercial land parcel located off Jalan Ampang, Kuala Lumpur, following the full settlement of the remaining purchase consideration.
The developer said the balance purchase price amounting to RM232.10 million was fully paid on June 16, 2026, marking the completion of the proposed acquisition on the same day.
The acquisition involves a piece of freehold commercial land identified as Lot 20009, measuring approximately 14,974 square metres, with a total cash consideration of RM257.89 million.
The proposed acquisition was initially announced on March 18, 2026.
Paramount said the completion of the transaction strengthens its asset portfolio and provides the group with a strategic commercial property asset in a prime Kuala Lumpur location.
The company did not disclose further details on the intended development plans for the land but said the acquisition forms part of its ongoing efforts to enhance long-term value creation.
The transaction is classified as a non-related party transaction under Chapter 10 of Bursa Malaysia’s Listing Requirements
