MAIN Market-listed Paragon Globe Bhd (PGB) (formerly Goh Ban Huat Bhd) has dished out a 4Q FY3/2026 ended March 31, 2026 financial performance which very much reflected a structural transition from a conventional property developer into an integrated industrial ecosystem platform.
This strategic shift is anchored by the group’s new partnership with GSP Automotive Malaysia Sdn Bhd, a subsidiary of the Shanghai-listed GSP Automotive Group.
Under the strategic partnership collaboration agreement, Paragon Globe will act as the master developer and ecosystem integrator for an automotive-focused industrial cluster known as “PGB-GSP AutoPark” in Iskandar Puteri, Johor.
The platform will leverage GSP’s global supply chain network with selected manufacturing units targeted for GreenRE certification to capture the growing regional demand for sustainable industrial infrastructure.
“FY3/2025 was a high-water mark on the back of the RM337.30 mil Johor land disposal to Bridge Data Centres Malaysia (Land A and Land E disposal),” commented Paragon Globe’s executive chairman Datuk Seri Edwin Tan Pei Seng.
‘But FY3/2026 is a different kind of year as we’re building the next phase. The landbank has grown, the investment property base has grown and we’ve started laying the foundation for our industrial ecosystem with GSP. The numbers will follow.”
‘Gross profit margin held steady’
Financially, the group saw its full-year revenue halved to RM154.85 mil year-on-year (yoy) (FY3/2025: RM306.26 mil) as top-line figures normalised following the completion of major historical land-sale recognitions in Desa Cemerlang (a township in Ulu Tiram, Johor Bahru).
Despite the lower top line, gross profit margin held steady at 49.6%. The group’s full-year pre-tax profit stood at RM88.70 mil (FY3/2025: RM140.15 mil) while its net profit came in at RM69.44 mil (FY3/2025: RM105.62 mil).
The group’s quality of earnings was particularly evident in its 4Q FY3/2026. While its 4Q revenue moderated to RM12.63 mil due to the high-base effect of land sales in the prior year’s corresponding quarter, pre-tax profit rose 187.1% sequentially to RM35.94 mil against that of 3Q FY3/2026.
This quarter-on-quarter (qoq) expansion was driven by the Investment segment which turned around from a loss-making position in FY3/2025 to record a pre-tax profit of RM28.13 mil in FY2026 during the final quarter.
More broadly, Paragon Globe’s balance sheet metrics strengthened significantly over the period. Total assets expanded 45.9% to RM1.14 bil.
The group’s investment property base increased 67.9% to RM365.38 mil, reflecting active capital expenditure deployment and valuation gains.
Furthermore, total inventories increased to RM663.12 mil following a substantial build-up of land and development assets slated for monetisation and execution starting in FY3/2027. Net asset per share increased to 63 sen.
Demonstrating disciplined capital recycling, the group also confirmed that the RM98.98 mil in gross cash proceeds from the Land E disposal which was completed on Jan 20 this year has been fully utilised.
The funds were strategically deployed across land acquisitions (RM55.22 mil), core development costs (RM24.18 mil), general working capital requirements (RM19.46 mil) and transaction expenses (RM110,000).
At the close of today’s (May 26) market trading, Paragon Globe was up 2.5 sen or 2.98% to 86.5 sen with 536,400 shares traded, thus valuing the company at RM646 mil. – May 26, 2026
