Johan sells Singapore Diners Club business for RM314mil

“The board of Johan anticipates that the glove business will generate a much higher revenue than that generated by DCS & DPPL, and also expected to largely contribute to Johan Group’s earnings in the future to turnaround the group, ” Johan said.

PETALING JAYA: Johan Holdings Bhd has completed the disposal of its loss-making Diners Club business in Singapore for S$103.59mil (RM313.98mil).

The disposal marked the change in the group’s main business. It is noteworthy that Diners Club made the bulk of its annual revenue of more than 80% in financial year 2020 (FY20) and 60% in FY21.