Olympia firm to dispose of JB land

Posted on | June 11, 2011

By BUSINESS TIMES

OLYMPIA Industries Bhd’s (OIB) wholly-owned subsidiary MA Realty Sdn Bhd has agreed to sell a 15.3ha freehold land in Johor Baru, Johor, to Adawan Development Sdn Bhd, a wholly-owned subsidiary of OIB, for RM80 million.

The sale is one of several earmarked assets that have been identified under OIB’s restructuring scheme to substantially reduce debts owing to the primary holders of 2007/2013 six-year irredeemable convertible bonds.

- Malaysia Real Estate News

You might also like

Olympia scraps tower sale plan By BUSINESS TIMES OLYMPIA Industries Bhd has scrapped plans to sell Menara Olympia, a property under...

Olympia aborts sale of flagship building By THE STAR Purchaser wants deal called off due to firm’s delay in getting approvals, it says PETALING...

K Residence condo units sold out By BUSINESS TIMESOLYMPIA Industries Bhd, through its wholly owned subsidiary KL Landmark Sdn Bhd has...

Olympia calls off joint development By BUSINESS TIMESOLYMPIA Industries Bhd said its proposed joint venture development through subsidiary...