KUALA LUMPUR, May 25 — Chairman of property developer Paramount Corp Bhd, Datuk Teo Chiang Quan, died yesterday. He was 72.
According to The Edge Markets, the company in a statement confirmed Teo’s death due to complications from an unexpected illness.
“Over and above being an astute businessman and property developer, Datuk Teo may best be described as a nation-builder,” the company said.
Teo began his career in what was known as Malaysian Rice Mills in 1976, which, in 1980, was renamed as Paramount.
He became chairman of the board of Paramount on June 8, 2015 and provided 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 one of the pioneers in affordable private tertiary education in Malaysia.
Under his leadership, Paramount set up Sri KDU schools and later through the acquisition of REAL Education Group, built the largest K-12 education group in Malaysia.
