MAIN Market-listed property developer Paragon Globe Bhd (formerly Goh Ban Huat Bhd) has posted a 102% jump in its 1H FY3/2026 net profit ended Sept 30, 2025 to RM29.94 mil (1H FY3/2025: RM14.82 mil) on the continued strength in its Johor-based property portfolio.
Reflective a similar sentiment, the group’s revenue during the period under review spiked 28.6% year-on-year (yoy) to RM108.11 mil (1H FY3/2025: RM84.07 mil).
For the individual 2Q FY3.2025, Paragon chalked up 54% yoy net profit growth to RM14 mil (2Q FY3/2025: RM9.08 mil) but its revenue dwindled 14% yoy to RM52.46 mil (2Q FY3/2025: RM61.12 mil).
The stronger 2Q FY3/2026 performance was primarily driven by:
- Recognition of land sales in Desa Cemerlang and Tanjung Kupang (in Johor);
- Property sales including detached factories and shop offices at Pekan Nanas (Johor); and
- Recurring rental income contributions.
The group’s gross profit margin strengthened to 56.0% from 31.2% a year ago, supported by the recognition of land sales as well as on-going cost discipline across Paragon’s development and operational activities.
As it is, Johor continues to experience strong industrial demand underpinned by manufacturing expansion, cross-border activity and the momentum surrounding the Johor–Singapore Special Economic Zone (JS-SEZ).
PGB’s industrial assets in Desa Cemerlang and Pekan Nanas remain key earnings contributors, attracting both multinational and domestic buyers.
On the residential side, the group achieved a major milestone with the ground-breaking ceremony of Calia Residences which is Paragon’s first high-rise residential development in Danga Bay.
The project received overwhelming market response by having achieved 90% take-up rate for its Tower A which prompted the opening of Tower B for registration.
Elsewhere, the group is also preparing for upcoming launches of its Kensington Parkview project (Iskandar Puteri) and The Iconic (Johor Bahru City Centre) which are expected to strengthen its sales visibility and earnings sustainability into FY3/2027 and FY3/2028.
“Our first-half performance reflects the strength of our development strategy and the resilience of our diversified portfolio,” commented Paragon’s executive chairman Datuk Seri Edwin Tan Pei Seng.
“The 102.0% yoy jump in net profit underscores our ability to execute and deliver value despite a dynamic operating environment.”
Added Tan: “The encouraging response to Calia Residences by PGB with Tower A reaching 90% take-up rate validates of our positioning in Danga Bay’s evolving residential landscape.
“We will continue to build on this momentum with upcoming launches that contribute to our long-term growth trajectory.”
At 10.21am, Paragon was unchanged at 61 sen with no market trading done as yet, hence giving the counter a market capitalisation of RM455 mil. – Nov 27, 2025
