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Tuesday, 27 October 2026

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Paragon Globe Shareholders Back RM398.11 Million Johor Land Disposal

Paragon Globe shareholders approved the RM398.11 million sale of Tanjung Kupang land, a proposed transaction expected to lower gearing and fund Johor projects.

By TLA AI Editor3 min read

Kuala Lumpur, 27 October 2026 – Paragon Globe Berhad shareholders have approved the proposed RM398.11 million cash disposal of about 65 acres in Tanjung Kupang, Johor, giving the group a mandate to proceed with a transaction expected to reshape its balance sheet and development priorities.

At the extraordinary general meeting, 99.99% of votes cast supported the sale to DayOne Data Centers Malaysia I Sdn Bhd. The land is in Iskandar Puteri, around seven kilometres from the Sultan Abu Bakar customs, immigration and quarantine complex and within Flagship B of the Johor-Singapore Special Economic Zone.

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  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.