KUALA LUMPUR: Paramount Corp Bhd and Star Media Group Bhd (SMG) have jointly applied for a digital banking licence from Bank Negara as part of a five-member consortium with the aim of accelerating their digital growth strategies. “Paramount had earlier mentioned that it was looking at the feasibility of applying for a digital bank licence. “The venture into digital banking is in line with SMG’s digital transformation strategy and is synergistic with our continuous efforts to grow within the digital sphere,” Star Media Group CEO Alex Yeow said in the same statement. It still has 35% and 20% stakes in the tertiary education business and pre-tertiary education businesses that it could monetise from 2022. Paramount also owns the tertiary education campuses in Penang, Shah Alam and Petaling Jaya worth about RM500.4mil.

Source: The Star June 30, 2021 11:34 UTC