Johan posts narrower net loss in fourth quarter

PETALING JAYA: Johan Holdings Bhd’s net loss narrowed to RM22.7 million in the fourth quarter ended Jan 31, 2018, from RM23.67 million in the previous corresponding quarter.
Revenue declined 19.24% to RM28.3 million compared with RM35 million in the same period a year ago.
For the full year, its net loss also narrowed to RM22.3 million against RM37.2 million a year ago, while revenue fell 4.8% to RM122.5 million, from RM128.8 million previously.
Johan is the franchise operator of Diners Club charge and credit cards. It is also involved in tour and travel operations, manufacturing and marketing of ceramic tiles, property development, resorts and hotels.
Commenting on prospects, Johan said it will continue to build up its Diners Club card business in Singapore. The group is collaborating with Alipay to expand the acceptance of Diners Club cards there.
“Diners E-Wallet with QR code acceptance is targeted to be launched in the second quarter of the year with our major co-brand partners to further increase revenue and market share for the financial year ending 2019,” it said.
Johan expects the process of conversion of its land in Puchong for property development will be approved during the current financial year. “This will have positive impact on our group’s profitability in the longer term,” it said.
On Bursa Malaysia today, Johan was unchanged at 28.5 sen with 128,000 shares traded.