OLYMPIA - General Announcement
Announcement Type: General Announcement
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DAIRY MAID RESORT & RECREATION SDN BHD TO JELITA TIMUR SDN BHD ("THE TRANSACTION")
Contents: Reference is made to the announcement dated 18 June 2010 on the receipt of a directive from Bursa Malaysia Securities Berhad ("BMSB") by Olympia Industries Berhad ("OIB" or "the Company) to conduct a second valuation on Menara Olympia and the adjoining leased car park (collectively known as "the Properties") by a professional valuer to be appointed by BMSB.
Reference is also made to the announcement dated 15 July 2010, wherein the Company had acknowledged and confirmed the terms and conditions on the appointment of Messrs Rahim & Co. ("Rahim & Co") to conduct the said valuation.
OIB wishes to announce that the Company has today received the valuation report from Rahim & Co dated 23 August 2010 through BMSB.
Based on Rahim & Co's report using the investment and comparison methods, the Properties were valued at RM228.1 million as compared to RM200.0 million according to the valuation report by Messrs Colliers, Jordan Lee & Jaafar dated 25 January 2010.
Jelita Timur Sdn Bhd ("the Purchaser") in its letter dated 25 August 2010 informed of its decision to withdraw from the transaction due to the delay on the Company's part in obtaining the requisite approvals todate, the revaluation of the Properties as required by BMSB and the inability of the Company to complete the sale at this juncture. The Purchaser had also stated that it was not prepared under any circumstances to proceed with the transaction at a higher consideration if there was a revision of the valuation of the Properties.
The Company will refund the deposit of RM3,015,218.70 together with interest thereon within 14 days from the date of the Company's reply to the Purchaser, which shall be by 2 September 2010.
This announcement is dated 27 August 2010
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DAIRY MAID RESORT & RECREATION SDN BHD TO JELITA TIMUR SDN BHD ("THE TRANSACTION")
Contents: Reference is made to the announcement dated 18 June 2010 on the receipt of a directive from Bursa Malaysia Securities Berhad ("BMSB") by Olympia Industries Berhad ("OIB" or "the Company) to conduct a second valuation on Menara Olympia and the adjoining leased car park (collectively known as "the Properties") by a professional valuer to be appointed by BMSB.
Reference is also made to the announcement dated 15 July 2010, wherein the Company had acknowledged and confirmed the terms and conditions on the appointment of Messrs Rahim & Co. ("Rahim & Co") to conduct the said valuation.
OIB wishes to announce that the Company has today received the valuation report from Rahim & Co dated 23 August 2010 through BMSB.
Based on Rahim & Co's report using the investment and comparison methods, the Properties were valued at RM228.1 million as compared to RM200.0 million according to the valuation report by Messrs Colliers, Jordan Lee & Jaafar dated 25 January 2010.
Jelita Timur Sdn Bhd ("the Purchaser") in its letter dated 25 August 2010 informed of its decision to withdraw from the transaction due to the delay on the Company's part in obtaining the requisite approvals todate, the revaluation of the Properties as required by BMSB and the inability of the Company to complete the sale at this juncture. The Purchaser had also stated that it was not prepared under any circumstances to proceed with the transaction at a higher consideration if there was a revision of the valuation of the Properties.
The Company will refund the deposit of RM3,015,218.70 together with interest thereon within 14 days from the date of the Company's reply to the Purchaser, which shall be by 2 September 2010.
This announcement is dated 27 August 2010
OLYMPIA - Quarterly rpt on consolidated results for the financial period ended 30/6/2010
Announcement Type: Financial Results
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Financial Year End: 30/06/2010
Quarter: 4
Quarterly report for the financial period ended: 30/06/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Financial Year End: 30/06/2010
Quarter: 4
Quarterly report for the financial period ended: 30/06/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
OLYMPIA - General Announcement
Announcement Type: General Announcement
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DAIRY MAID RESORT & RECREATION SDN BHD TO JELITA TIMUR SDN BHD ("THE TRANSACTION")
Contents: Reference is made to the announcement dated 18 June 2010 on the receipt of a directive from Bursa Malaysia Securities Berhad ("BMSB") by Olympia Industries Berhad ("OIB" or "the Company) to conduct a second valuation on Menara Olympia and the adjoining leased car park (collectively known as "the Properties") by a professional valuer to be appointed by BMSB.
Reference is also made to the announcement dated 15 July 2010, wherein the Company had acknowledged and confirmed the terms and conditions on the appointment of Messrs Rahim & Co. ("Rahim & Co") to conduct the said valuation.
OIB wishes to announce that the Company has today received the valuation report from Rahim & Co dated 23 August 2010 through BMSB.
Based on Rahim & Co's report using the investment and comparison methods, the Properties were valued at RM228.1 million as compared to RM200.0 million accordingly to the valuation report by Messrs Colliers, Jordan Lee & Jaafar dated 25 January 2010.
Jelita Timur Sdn Bhd ("the Purchaser")in its letter dated 25 August 2010 informed of its decision to withdraw from the transaction due to the delay on the Company's part in obtaining the requisite approvals todate, the revaluation of the Properties as required by BMSB and the inability of the Company to complete the sale at this juncture. The Purchaser had also stated that it was not prepared under any circumstances to proceed with the transaction at a higher consideration if there was a revision of the valuation of the Properties.
The Company will refund the deposit of RM3,015,218.70 together with interest thereon within 14 days from the date of the Company's reply to the Purchaser, which shall be by 2 September 2010.
This announcement is dated 27 August 2010
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 27/08/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DAIRY MAID RESORT & RECREATION SDN BHD TO JELITA TIMUR SDN BHD ("THE TRANSACTION")
Contents: Reference is made to the announcement dated 18 June 2010 on the receipt of a directive from Bursa Malaysia Securities Berhad ("BMSB") by Olympia Industries Berhad ("OIB" or "the Company) to conduct a second valuation on Menara Olympia and the adjoining leased car park (collectively known as "the Properties") by a professional valuer to be appointed by BMSB.
Reference is also made to the announcement dated 15 July 2010, wherein the Company had acknowledged and confirmed the terms and conditions on the appointment of Messrs Rahim & Co. ("Rahim & Co") to conduct the said valuation.
OIB wishes to announce that the Company has today received the valuation report from Rahim & Co dated 23 August 2010 through BMSB.
Based on Rahim & Co's report using the investment and comparison methods, the Properties were valued at RM228.1 million as compared to RM200.0 million accordingly to the valuation report by Messrs Colliers, Jordan Lee & Jaafar dated 25 January 2010.
Jelita Timur Sdn Bhd ("the Purchaser")in its letter dated 25 August 2010 informed of its decision to withdraw from the transaction due to the delay on the Company's part in obtaining the requisite approvals todate, the revaluation of the Properties as required by BMSB and the inability of the Company to complete the sale at this juncture. The Purchaser had also stated that it was not prepared under any circumstances to proceed with the transaction at a higher consideration if there was a revision of the valuation of the Properties.
The Company will refund the deposit of RM3,015,218.70 together with interest thereon within 14 days from the date of the Company's reply to the Purchaser, which shall be by 2 September 2010.
This announcement is dated 27 August 2010
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