Paramount gets new substantial shareholder

Benjamin Teo Jong Hian

PETALING JAYA: Benjamin Teo Jong Hian, the son of the late Datuk Teo Chiang Quan, the former chairman of Paramount Corp Bhd, has become a substantial shareholder of Paramount effective from yesterday.

In a statement, Paramount said Benjamin has a total interest of 28.9% in the company pursuant to a transmission of shares, which are registered in the name of Paramount Equities Sdn Bhd, Bunga Indah (M) Sdn Bhd and Rockwills Trustee Bhd Teo Chiang Quan.

The late Teo was Paramount’s chairman and executive director when he passed away on May 24, 2021.

Benjamin, 33, is Paramount deputy group CEO and executive director of Paramount. He was appointed to the board of directors on Aug 22, 2019.