Paramount Corporation Berhad (Paramount) was incorporated on 15 April 1969 as a public limited company under the name of Malaysia Rice Industries Berhad. It was then principally involved in the business of rice milling.
Paramount successfully obtained listing on the Official List of Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Securities Berhad) on 15 July 1971.
In 1978, Paramount was restructured into a property development company following the acquisition of a real estate company.
The Company assumed its present name in 1980 to better reflect its business activities.
In 1982, Paramount acquired four property development companies and started its property development activities in Sungai Petani.
1983 marked Paramount's entry into the education business with the setting up of the first purpose-built campus in Malaysia in Damansara Jaya, Kolej Damansara Utama (KDU).
In 1984, Paramount ceased its rice milling operations.
Spurred by the success of the Damansara Jaya campus, Paramount opened another college in Penang in July 1991 to offer tertiary education.
Having established a reputation as a quality and reliable developer in Sungai Petani, Paramount increased its land bank in this Northern Growth Triangle with the acquisition of 476.98 acres of land in November 1994 for the Bandar Laguna Merbok development.
In October 1996, Paramount acquired a construction company, one of the major contractors for the Group’s property development to reap synergistic benefits.
In October 2001, Paramount expanded its education business by moving downstream to set up a private primary and secondary school, and the establishment of the Sri KDU brand.
In line with Paramount's strategy to expand its land bank in high growth areas, Paramount acquired 524.70336 acres of freehold development land located in the central corridor of Klang Valley in June 2003 for the Klang Valley, Kemuning Utama development.
In December 2006, Paramount added 515 acres of land in Sungai Petani to its land bank for the Bukit Banyan development.
In 2007, Paramount made a strategic decision to venture into commercial and industrial property development, by acquiring a 5.201 acres of industrial land located in Petaling Jaya for the proposed development of office buildings. This was followed by the acquisition of two parcels of industrial land measuring approximately 13.21 acres in January 2008 and the acquisition of another two parcels of industrial land measuring approximately 9.45 acres in February 2008, both located in Kota Damansara for the development of semi-detached showroom cum industrial buildings.
In June 2009, KDU received an invitation from the Ministry of Higher Education to convert its Damansara Jaya campus licence to that of a university college. KDU was upgraded to a university college on 30 August 2010.
In June 2010, the Group added another 50 acres of residential land located in Cyberjaya to its landbank for the Sejati Residences development.
In June 2011, Paramount entered into a 50-50 joint venture with an Australian company to acquire and develop a 54.22-acre land known as Crown Allotments 4A and 4B, Leakes Road, Rockbank, Victoria, Australia.
In response to the growing preference for an international school, Sri KDU expanded its operation to set up an international secondary school in September 2011.
In December 2011, Paramount completed the acquisition of a 29.16-acre commercial land located in the centre of Klang Town for the proposed development of an integrated commercial hub.
In February 2012, Paramount completed the acquisition of 21.7 acres of freehold land comprising 11.7 acres commercial and 10.0 acres institutional in Glenmarie, Shah Alam. Within a year the master plan for this live-and-learn integrated development, Utropolis, a university metropolis was unveiled. Anchored by the 10-acre purpose-built KDU University College campus, this development will comprise serviced apartments, SOHO and retail space. This marks the coming together for the very first time Paramount’s two businesses in one place, a perfect synergies the Company’s two businesses can enjoy.
The Group added another 30 acres of industrial land strategically located in Shah Alam’s Hicom Industrial Park in 2012 to further bolster its land bank.
Over the years, Paramount has been pursuing a vision of value creation for its customers, shareholders, business partners and employees. Today, this vision has shaped Paramount into a progressive and successful group of companies. Paramount now focuses on two core businesses, i.e. property development and education, in order to capitalise on the Group's resources and expertise.
Paramount’s property development arm in Sungai Petani has earned an excellent reputation as a reliable and quality-focused developer – an indisputable fact that has been reaffirmed by its award of the prestigious 12th FIABCI Property Award of Distinction 2004, RESIDENTIAL DEVELOPMENT CATEGORY for its Bandar Laguna Merbok development.
Kemuning Utama, the Group's maiden property development in the Klang Valley, has experienced overwhelming success to its product launches. Paramount achieved another major milestone when for the second consecutive year at the FIABCI-MALAYSIA, MALAYSIA PROPERTY AWARDS 2005, Sekolah Sri KDU was adjudged the winner in the Specialised Project category for its first purpose-built private smart primary and secondary school. Sekolah Sri KDU was also named the first runner-up in the Specialised Category of FIABCI International Prix d’Excellence 2006.
Leveraging on its proven track record, Paramount will continue to grow its land bank in high growth areas in the Klang Valley, Penang and Johor.
Having established the vertical integration of the education division comprising primary and secondary school as well as tertiary and post executive education, Paramount will continue to strengthen its position in the education sector. The division is proud to have had 70,000 students since its inception, some of whom include corporate leaders, entrepreneurs and celebrities around the globe.
With a strict adherence to excellence and a firm commitment to future growth, Paramount will continue to expand its core businesses in order to provide good returns on investment for shareholders and enhance revenue from business operations. Backed by its sound fundamentals of quality management, strong corporate values, business dynamism and strong financial standing, Paramount has a key competitive advantage as it embarks on an exciting journey of adding value to nation-building.