 He upset Armenian GM Sergei Movsesian in the first round before narrowly losing in the tie breaker against Alexey Dreev of Russia in the second round (Paragua drew both his games against Dreev in the regulation)

Paragua become the first Filipino to reach 2600 FIDE after he placed second in the Asian Zonal 3.3 Chess Championships in Kuala Lumpur, Malaysia.Paragua finished the nine-round Swiss system event with 7 points after a draw with Singaporean GM Wu Shaobin.In January 2006 FIDE listed Paragua with a rating of 2618 enough to get him in the top 100, but his rating has since dropped to 2521.