PETALING JAYA: Johan Holdings Bhd is proposing to acquire one million ordinary shares in Lumut Park Resort Sdn Bhd from Syarikat Majuperak Bhd for a total cash consideration of RM3.25mil, which would make Lumut Park Resort its wholly-owned indirect subsidiary.

In a filing with Bursa Malaysia, Johan said it had, through its wholly-owned subsidiary Diners Club (Malaysia) Sdn Bhd, agreed to buy the shares by exchange of letters with Syarikat Majuperak on Jul 20, 2026.

Upon the completion of the proposed acquisition, which is estimated to be by the end of Aug 2026, Johan will hold a total of five million ordinary shares, representing 100% equity interest in Lumut Park Resort, up from its previous 80%.

The company said full ownership and control of Lumut Park Resort would give greater flexibility in managing its affairs, as well as simply the group’s corporate governance and administrative processes for more efficient management.

The purchase price of RM3.25mil was arrived at on a "willing-buyer, willing-seller" basis, Johan said.

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