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Paramount buys 49% stake in Thai property developer

KUALA LUMPUR: Paramount Corp Bhd has purchased a 49% equity interest in a Bangkok-based property development company for 60 million baht (approximately RM8.44mil), marking its entry into Thai property development.

Paramount Group chief executive officer Jeffrey Chew said the company had on Jan 22 signed a share purchase agreement with Navarang Asset Company Ltd (Navarang Asset) to acquire a 49% equity stake in Navarang Charoennakorn Company Ltd (Navarang Charoennakorn). — Bernama

Source: TheStar