MAIN Market-listed property developer Paragon Globe Bhd (PGB) (formerly Goh Ban Huat Bhd) has unveiled record-breaking financial results for its 2Q FY3/2025 ended Sept 30, 2024 driven by strong performance in its property development segment.
Its net profit surged to RM9.08 mil which a meteoric jump from RM415,000 in the same quarter of last year. The group’s pre-tax profit also hit a record high of RM12.7 mil (2Q FY3/2024: RM1.19 mil).
Its revenue for the period under review came in at RM61.12 mil or a 257.4% year-on-year (yoy) surge from RM17.1 mil previously.
The property development segment remained the group’s primary revenue driver by contributing over 99% of total revenue. Key contributors to this strong performance included strategic land sales in Desa Cemerlang, Johor and robust sales of detached factories and shop offices in Pekan Nenas, Johor.
“These exceptional results reflect our strategic focus on delivering high-value property development projects and effectively navigating market opportunities,” commented PGB’s chairman Datuk Seri Edwin Tan Pei Seng.
“Our achievements in Desa Cemerlang and Pekan Nenas demonstrate the effectiveness of our strategy in capturing demand and driving performance.”
For the cumulative six-month period of its FY3/2025, PGB’s revenue spiked 220.4% yoy to RM84.07 mil with the group having amassed a net profit of RM14.82 mil which is a turnaround from a net loss of RM411 mil in 1H FY3/2024.

Tan expressed optimism for the current financial year, citing favourable economic conditions and recent strategic milestones as key growth drivers.
At a glance, the group’s recent signing of development rights agreements (DRA) with Iskandar Capital Sdn Bhd and Tropicana Danga Bay Sdn Bhd will enable it to accelerate project timelines and leverage synergies with established partners.
Additionally, the upcoming PGB Tech Park in Nusajaya which is set to launch in phases beginning 1Q 2026 will highlight the group’s commitment to sustainability and innovation through its targeted GreenRE Gold Certification and strategic positioning to attract industrial and commercial investments.
The broader momentum in Johor, driven by initiatives such as the Johor-Singapore Special Economic Zone and the Forest City Special Financial Zone, too, will further reinforce PGB s prospects.
Coupled with the group’s on-going partnership with United Overseas Bank (M) Bhd to support green development projects, PGB is well-positioned for continued growth.
“Malaysia’s resilient economic outlook and the continued growth of Johor as a regional hub provide a strong foundation for our future initiatives,” envisages Tan.
“As we execute our newly secured development rights agreements and advance key projects, we are confident in our ability to deliver sustainable growth and unlock long-term value for our stakeholders.”
At the close of today’s (Dec 5) trading, PGB was unchanged at 36.5 sen with 7.79 million shares traded, thus valuing the company at RM273 mil. – Dec 5, 2024