Quick take: Johan rises 9% on disposal of Diners Club in Singapore

KUALA LUMPUR: Shares in Johan Holdings Bhd jumped over 9% in early trade on its proposed disposal of loss-making Diners Club business in Singapore.

The counter rose 9.3%, or two sen to 23.5 sen, its highest in over a week with 4.89 million shares traded.

Johan has proposed to divest its entire stake in loss-making Diners Club (Singapore) Private Ltd (DCS) for a disposal consideration of S$103.59mil (RM313.98mil).

Johan said it was expected to realise a gain of S$62.12mil from the proposed disposal of its entire interest in the company that provides charge card and credit card services.

Upon completion of the proposed disposal, Johan said the intention of the group is to carry on with its remaining business segments.

Johan said the company may potentially diversify into a new business venture/ investment, which is in the manufacturing and marketing of gloves and other healthcare-related products, subject to necessary approvals being obtained.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Johan , Diners Club


Next In Business News

MUI Group's PMC to buy 51% stake in A&W Malaysia
Yinson reports third straight quarterly earnings growth
KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks
FBM KLCI broadly higher on bargain-hunting activities
BNM's international reserves at US$116.2bil as at Sept 15
China stocks end higher, Evergrande's assurances lift real estate firms
Maybank, UOB to jointly underwrite RM2bil Islamic facility for Malayan cement
DFIs provide micro-SMEs with financing totalling RM8.1bil
Oil prices rise on tight supply, renewed risk appetite
Citi Malaysia bags multiple banking awards

Stories You'll Enjoy