KUALA LUMPUR – Paramount Corp Bhd chairman and executive director Datuk Teo Chiang Quan has died after a 21-day battle with Covid-19 complications.
The 72-year-old breathed his last at 6.38pm yesterday.
“Over and above being an astute businessman and property developer, Datuk Teo may best be described as a nation-builder,” said the company in a statement.
Teo began his career in what was known as Malaysian Rice Mills in 1976. It was renamed Paramount in 1980.
He became chairman of the Paramount board on June 8, 2015, providing leadership and guidance to its management in the formulation of the group’s long-term strategic plans, particularly in the areas of land banking and communication with stakeholders.
Teo is also recognised as a pioneer in affordable private tertiary education in Malaysia.
Under his leadership, Paramount set up Sri KDU schools, and later, through the acquisition of the REAL Education Group, built the largest K-12 education organisation in the country.
Teo is the second Malaysian property veteran to succumb to the coronavirus.
On May 15, Michael Geh Thuan Peng, president of the FIABCI East Asia multinational chapter and Raine & Horne International Zaki + Partners Sdn Bhd senior partner, died of complications brought on by the disease at Penang General Hospital. – The Vibes, May 25, 2021
