KUALA LUMPUR: Paragon Globe Bhd
(PGB) expects to record an estimated net pro forma gain of RM187.43mil from its proposed RM398.11mil land disposal in Tanjung Kupang, Johor, following shareholders’ approval.
In a filing with Bursa Malaysia, the property developer said shareholders approved the disposal of approximately 26.3ha to DayOne Data Centers Malaysia I Sdn Bhd at its EGM yesterday, with 99.99% of votes cast in favour.
PGB pointed out that based on its audited financial position as at March 31, 2026, and assuming the transaction completes, its net assets per share would rise from 64 sen to 89 sen, while its gearing ratio would fall from 1.06 times to 0.68 times.
The group said the lower gearing ratio takes into account the proposed repayment of RM56mil in bank borrowings, which is expected to generate annual interest savings of approximately RM3.09mil.
