JOHAN HOLDINGS plans to launch the "Diners Club" credit card in Malaysia and New Zealand within two years, said chairmanTAN KAY HOCK.

He was reported in THE EDGEONLINE on Jul 25, 2008 saying that the Company would spend between NZD2m (RM4.83 million) and NZD3m for the card management system, which includes the IT hardware andsoftware programmes, in New Zealand.

The Company would be launching the card in Malaysia next year.

Speaking after the Company's AGM on Jul 24, 2008, TAN said the Group, which has had a presence in New Zealand's charge cards market for the past five years, was moving into a more profitable business like credit cards.

He said that given the "borrowing society" in New Zealand, the Company had a tremendous potential for growth in that country, which has a population of over four million.

TAN also said that the Group had closed "two or three"Nature's Farm shops in Singapore, which retail health foods and supplements, due to rising rental cost.

He remained positive about the Group's performance for 2008 despite the economic downturn.(By KLSETRACKER.com)