Johan Holdings in talks to venture into glove-related business

Johan Holdings in talks to venture into glove-related business
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KUALA LUMPUR (Dec 8): Johan Holdings Bhd said its board is in the midst of discussion on a potential new business venture involving glove-related products. 

However, there are no definitive terms and conditions that are firmed and agreed upon by the company at this juncture, Johan said in a filing with Bursa Malaysia in response to an unusual market activity (UMA) query by the bourse earlier today. 

"Should the terms and conditions and the necessary due diligence be finalised, Johan will make a relevant announcement on Bursa Securities on an immediate basis," the company added. 

Other than that, Johan said the board is not aware of any rumour or report concerning the business and affairs of the company that may have contributed to the trading activity of its shares today. 

In the morning trade session, Johan saw its shares jump 40.63% to a four-month high of 22.5 sen. At market close, the counter was five sen or 31.25% higher at 21 sen, with a market capitalisation of RM163.52 million. 

The counter saw 97.83 million shares exchanging hands today, compared with its 200-day trading average of 1.63 million shares.

S Kanagaraju