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RESILIENT POISED for GROWTH Annual Report 2020 Paramount Values Sustainability As Part of Its Business Philosophy

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RESILIENT POISED for GROWTH Annual Report 2020 Paramount Values Sustainability As Part of Its Business Philosophy RESILIENT POISED FOR GROWTH Annual Report 2020 Paramount values sustainability as part of its business philosophy. This Annual Report is printed on environmentally friendly paper. THE COMPANY 02 - 20 03 How We Create Value 04 Corporate Structure IN THIS 05 Corporate Profile 17 Corporate Information REPORT 18 Other Information THE STORY 21 - 59 22 Message from the Chairman 22-24 25 Management Discussion & Analysis Message from 36 Five-year Group Financial the Chairman Highlights 38 Sustainability Statement HOW WE ARE GOVERNED 60 - 88 61 Board of Directors’ Profile 70 Key Senior Management Profile 71 Corporate Governance Overview Statement 78 Internal Policies, Frameworks & 03 Guidelines How We 80 Audit Committee Report Create Value 83 Statement on Risk Management and Internal Control 05 - 16 THE FINANCIALS 89 - 217 Corporate 90 Directors’ Report Profile 96 Statement by Directors 96 Statutory Declaration 97 Independent Auditors’ Report 101 Consolidated Income Statement 102 Consolidated Statement of Comprehensive Income 103 Consolidated Statement of Financial Position 105 Consolidated Statement of Changes in Equity 107 Consolidated Statement of Cash Flows 110 Income Statement 111 Statement of Financial Position 113 Statement of Changes in Equity 115 Statement of Cash Flows 117 Notes to the Financial Statements OTHER INFORMATION 218 - 236 219 Analysis of Shareholdings 222 Analysis of Warrant Holdings 224 List of Top 10 Properties 225 Statement of Directors’ 25 - 35 Responsibility Management 226 Notice of Fifty-First Discussion & Analysis Annual General Meeting 231 Administrative Guide • Proxy Form THE 02 - 20 COMPANY 03 How We Create Value 04 Corporate Structure 05 Corporate Profile 17 Corporate Information 18 Other Information Annual Report 2020 03 THE COMPANY HOW WE CREATE VALUE Our Vision Our Core Values Changing RUST TWe will strive to strengthen the faith that our shareholders, customers and Lives And the community have placed upon us to deliver sustainable returns. Enriching ESPECT RWe respect people as individuals, care for their well-being, and welcome Communities diversity in capability and background. We encourage positive teamwork and expect everyone to be open, candid and constructive in their comments For A Better and suggestions and always seek to help our colleagues inside and outside World Paramount. NTEGRITY IWe expect to do what is right, not only what is allowed. We believe in Our Mission absolute honesty and strong principles of uncompromising ethical and moral behaviour from everyone – our employees as well as those who do business We deliver superior products and with us. Integrity must not only be heard but must also be seen in action at all services that benefit society, and times. shape future generations of leaders and thinkers. RAVERY We care for the safety and health We must have the courage to stand up for what we believe in and be bold of our people, and we believe in B enough to venture into new areas and businesses. developing their talents through empowerment and enabling them to maximise their potential. NERGY We grow our businesses to deliver EWe embrace the future with vitality and vigour, exhibiting innovativeness sustainable and responsible and entrepreneurship in the true spirit upon which the company was founded. shareholder returns while ensuring that we continue to protect our environment. We must be bold in technological innovations to be market leaders in our core businesses. We will leverage on the synergies within our business ecosystem to create unique product offerings. T.R.I.B.E 04 Paramount Corporation Berhad THE COMPANY CORPORATE STRUCTURE PROPERTY COWORKING 100% 100% 100% Aneka Sepakat Sdn Bhd Paramount Property Construction Sdn Bhd Paramount Coworking Sdn Bhd 100% 100% 70% Berkeley Sdn Bhd Paramount Property Development Sdn Bhd Gardens of Hope Sdn Bhd 100% 100% Berkeley Maju Sdn Bhd Paramount Property (Glenmarie) Sdn Bhd 100% 100% Broad Projects Sdn Bhd Paramount Property (PG) Sdn Bhd 100% 100% Carp Legacy Sdn Bhd Paramount Property (PW) Sdn Bhd 100% 100% Kelab Bandar Laguna Merbok Sdn Bhd Paramount Property (Sekitar 26 100% Enterprise) Sdn Bhd Paramount Construction Sdn Bhd 100% 100% Paramount Property (Sepang) Sdn Bhd Paramount Construction (PG) Sdn Bhd 100% 100% Paramount Property (Utara) Sdn Bhd Paramount Engineering & Construction 100% Sdn Bhd (In members' voluntary liquidation) Paramount Utropolis Retail Sdn Bhd 100% 100% Paramount Property (Cityview) Sdn Bhd Seleksi Megah Sdn Bhd 100% (In members' voluntary liquidation) Paramount Property (Cjaya) Sdn Bhd 99% Paramount Property (Lakeside) Sdn Bhd INVESTMENT AND OTHERS 100% 100% 50% Janahasil Sdn Bhd Paramount Greencity Sdn Bhd VIP Paramount Pty Ltd 100% 100% 49% Jasarim Bina Sdn Bhd Paramount Holdings Sdn Bhd Navarang Charoennakhon Company (formerly known as KDU Management Limited 100% Development Centre Sdn Bhd) Magna Intelligent Sdn Bhd 35% 100% UOW Malaysia KDU University College 100% Paramount Investments & Properties Pty Sdn Bhd Paramount Capital Resources Sdn Bhd Ltd 35% 100% 100% UOW Malaysia KDU Penang University Paramount FoodPrint Sdn Bhd Paramount Property Holdings Sdn Bhd College Sdn Bhd 100% 100% 30.3% Paramount Global Sdn Bhd Paramount Property (Seaview) Sdn Bhd Paramount Education Sdn Bhd 100% 100% 20% Paramount Global Investments Pty Ltd Utropolis Sdn Bhd Sri KDU Sdn Bhd 100% 71% 20% Paramount Globalcom Sdn Bhd Super Ace Resources Sdn Bhd Sri KDU Klang Sdn Bhd (formerly known as Paramount Education (Klang) Sdn Bhd) Annual Report 2020 05 THE COMPANY CORPORATE PROFILE Paramount Corporation Berhad (Paramount), listed on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia), is an investment holding company PROPERTY with established interests in • PARAMOUNT PROPERTY property development. – THE PEOPLE’S DEVELOPER Paramount, however, started as a rice miller. It was incorporated as Malaysia Rice Industries Berhad on 15 April 1969. Two years later, on 15 July 1971, the Company listed on the Kuala Lumpur Stock Exchange. In 1978, the Company ventured into property development having acquired real estate company Perumahan Berjaya Sdn Bhd (now known as Paramount Property Holdings Sdn Bhd). It assumed its present name in 1980 to reflect its new business. Paramount is one of the most trusted developers in the COWORKING country today with projects in Kedah, Penang, Selangor • CO-LABS and, soon Kuala Lumpur. It has won many awards for its COWORKING projects and for shareholder returns. • OFFICE SOLUTIONS PROVIDER Over the last 52 years, Paramount had ventured into various businesses but is known for property development and education, its two core businesses until it divested its controlling stakes in the latter recently. Paramount was a pioneer in private tertiary education and private school education in Malaysia, having founded Kolej KDU and Sri KDU school in 1983 and 2003 respectively. INVESTMENT It was also the largest full spectrum education services & OTHERS provider in Malaysia after acquiring REAL Education in • EDUCATION 2017. It maintains a 35% stake in the tertiary education • FOOD & BEVERAGE business and 20%, in the pre-tertiary sector. With a vision of ‘Changing lives and enriching communities for a better world’, Paramount continues to grow its business while contributing to nation-building. 06 Paramount Corporation Berhad THE COMPANY CORPORATE PROFILE PROPERTY BUSINESS Paramount's versatility in property development is evident from Petani. Paramount bought another 137 acres of land in 2020 to the beautiful townships and integrated developments that it has expand the township. created. Its offerings include landed luxury homes, affordable homes (landed and multi-storied), service apartments, schools, In line with Paramount’s strategy to expand into high growth university campuses, as well as shop houses, offices, a hotel and areas, the Company acquired 524.7 acres of freehold land in industrial lots. It developed Bukit Banyan, Kedah's first hill park Shah Alam in June 2003. Still growing, Kemuning Utama was residences and Bandar Laguna Merbok, a riverside township, Paramount’s first township in the Klang Valley, also home to its also in Sungai Petani. Another unique project is Sejati Lakeside first high-rise development. fronting a 45-acre lake in Cyberjaya. Paramount Property has since expanded to other parts of the Paramount Property puts people first in all it does, from building Klang Valley and Penang. design to quality finishing, and customer service. Its reputation continues to strengthen in tandem with its track record of Notable projects in Selangor include Sejati Residences in delivering high-quality properties on time. Paramount has Cyberjaya, a luxury residential development with its iconic incorporated proptech to further enhance its customer service. It clubhouse built with 200-year old Chengal wood; Sejati also recently launched Paramount Circle, a rewards programme Lakeside, a landed residential development fronting a 45-acre for buyers. lake, prompted by the former’s success; ATWATER in Section 13, Petaling Jaya, an integrated development with serviced FROM TOWNSHIPS TO INTEGRATED DEVELOPMENTS apartments and corporate office towers; and Greenwoods Salak Perdana in Sepang, a 237-acre township celebrated for its wide Paramount Property’s first project was Taman Patani Jaya spaces and greenery. in Sungai Petani. Launched in 1981, the project created new benchmarks in township design and planning in Kedah. The Leveraging on the synergy of its two core businesses then i.e.
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