KUALA LUMPUR: Johan Holdings Bhd’s (JHB) subsidiary, Johan Investment Pte Ltd (JIPL), has disposed of its entire stake in Diners Club Singapore Pte Ltd (DCS) and DinersPay Pte Ltd (DPPL) for SG$103.58 million (RM313.98 million).

Following the disposal exercise, which was completed on 9 July 2021, JHB will see an estimated gain of approximately SG$68.30 million, or equivalent to approximately RM210.85 million, will result in estimated net assets per share of 32.25 sen.JHB shares were last traded at 14 sen.With the deconsolidation of DCS and DPPL, JHB is virtually debt-free.The balance sheet is strong and will be further strengthened by completing the rights issue of RM38.93 million on 28 July 2021.

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