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MARC has withdrawn its B+ rating on Olympia Industries Berhad’s outstanding RM5,500.0 Redeemable Unsecured Loan Stock (RULS) following the full settlement of the RULS on April 11, 2013 as confirmed by the issuer. MARC will cease all analytical coverage on the issuer following the withdrawal of the rating. Contacts: Jasmine Kua, +603-2082 2280/ jasmine@marc.com.my; Rajan Paramesran, +603-2082...
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MARC has affirmed the rating of Olympia Industries Berhad’s (Olympia) outstanding RM12,061,406 nominal value Redeemable Unsecured Loan Stocks (RULS) at B+ with a stable outlook. The rating incorporates the slow progress of the group’s sole property project, the 73-acre Kenny Heights Development (KHD) in Sri Hartamas in Kuala Lumpur, its weak financial performance and strained liquidity...
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MARC has downgraded the rating of Olympia Industries Berhad’s (Olympia) outstanding RM49,733,635 nominal value Redeemable Unsecured Loan Stocks (RULS) to B+ from BB- and concurrently revised the rating outlook to stable from negative. The rating action reflects Olympia’s continued weak financial performance, in particular its limited cash flow generation ability arising from its weak b...
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MARC has affirmed the rating of Olympia Industries Berhad’s (Olympia) outstanding RM72,981,306 nominal value Redeemable Unsecured Loan Stocks (RULS) at BB-. The outlook on the rating is maintained at negative. The rating action incorporates continued concern on the group’s weak profitability measures and earnings sustainability for its property and gaming divisions. MARC notes the slow...
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MARC has revised its rating outlook on Olympia Industries Berhad’s (Olympia) outstanding RM85,860,360 nominal value Redeemable Unsecured Loan Stocks (RULS) to negative from stable to reflect increased concerns over the company’s weakened business and financial profiles. Characterised by the continued weak profit margins of its gaming operations, the slow property sales encountered by i...
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MARC has affirmed its BB- rating of Olympia Industries Berhad’s (OIB) RM137,124,246 nominal value Redeemable Unsecured Loan Stocks (RULS). The rating outlook is stable. The affirmed rating incorporates OIB’s improved credit profile following the completion of its debt restructuring exercise. Since MARC’s previous rating action, OIB has regularised its financial position. The comp...
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The rating of BB- accorded to Olympia Industries Berhad’s (“OIB”) RM137,124,246 nominal value of Redeemable Unsecured Loan Stocks (“RULS”) reflects the risks associated with the implementation of the Group’s restructuring scheme. The rating carries a stable outlook.OIB is involved in property investment, construction, stock broking and lotteries/number forecast....
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