Paramount Corp aims higher recurring income from 'secret weapon' project

SHAH ALAM: Paramount Corporation Bhd aims a higher contribution to the revenue of between 10-15 per cent from its recurring income, from less than five per cent currently, with most of it coming from ‘secret weapon’ project, the co-working space, said group chief executive officer and director Jeffrey Chew Tun Seong.

He said the project is one of the company's strategic investment strategies to further boost its recurring income, on top of malls lease rental/ divestment and KDU campuses lease income.

"We know that we are in the new era of investment hence we are moving partially into new business and co-working space is the solution," he told reporters at the briefing of the company’s first-half 2019 financial results and prospects.