Paramount sells education ops; plans to be property group

In a statement, Paramount group chief executive officer Jeffrey Chew(pic) said its education arm turned in a satisfactory set of results despite the stiff competition in the education industry.

PETALING JAYA: Paramount Corp Bhd is slowly monetising its assets in the education business and entrenching itself in the property sector, in line with its strategic plan of becoming a pure-play property group.

It is selling its K-12 education business for more than half a billion ringgit but will still maintain a minority stake in the three entities it is divesting. K-12 education is for children from kindergarten through the twelfth grade.