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- The 14,000 sq ft space in Johor will mirror the KL Sentral branch, which became profitable within just three months and has reached over 50% occupancy. It has reached operating break-even in terms of profit before interest and depreciation.
KUALA LUMPUR (Sept 26): Paramount Corporation Bhd (KL:PARAMON) plans to launch its ninth Co-labs Coworking location at Mid Valley Southkey in Johor this November—its first expansion outside the Klang Valley.
Deputy chairman Benjamin Teo, at a media briefing after the launch of its KL Sentral branch, highlighted Johor’s fast economic growth, proximity to Singapore, and growing start-up scene as key reasons for the expansion into Johor. The new site will serve Malaysian and Singaporean businesses, benefiting from initiatives like the Johor-Singapore Special Economic Zone.
The 14,000 sq ft space in Johor will mirror the KL Sentral branch, which became profitable within just three months and has reached over 50% occupancy. It has reached operating break-even in terms of profit before interest and depreciation.
Teo attributed the KL Sentral branch’s performance to strategic execution and operational insights gained from years of managing co-working spaces. “The success of Co-labs Coworking lies in the flexibility of our workspaces and the meaningful community engagements we provide,” he said. “Our latest location is a testament to our proven formula, further enhanced by its highly accessible location.”
Co-labs KL Sentral offers 305 seats with flexible workspace options, such as hot desks, private suites and event spaces, alongside community programmes and a “Coworking Passport” for access to all Co-labs locations.
Beyond Coworking, Co-labs also offers enterprise solutions including office setup and management services for growing companies.
The brand has added 70,000 sq ft over two years and aims to reach 300,000 sq ft within two years.
For the first half of 2025, Co-labs reported RM14 million in revenue—up 52% year-on-year—but posted a slight pre-tax loss due to start-up costs.
Paramount shares were up slightly to RM1.07 at the time of writing on Friday, valuing the company at RM666 million, with little change year to date.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
