daren the disposal of jupiter is considered good or bad news to olympia? -------------------------------- good news but wont bring the share price far as current price already factor in ... strong sell now.
daren,joni,pak andak.. we don't have many shovels like nekosan do.. we can't cari ubi kayu like neko always do.. besides our hands will scratch if we hold sholve like neko do.. come withme to huaan.. dinner is sweet & delicuous..
Don't underestimate cili api, Nenek Yap, it's still hot and spicy...wakaka....with strong balance sheet from sales of Jupiter Security, it can ramp up Mont Kiara property- JV with Dutaland going forward
The Board of Directors of Olympia wishes to announce that Olympia Ventures Sdn Bhd (“OVSB” or “Vendor”), a wholly-owned subsidiary of the Company, had on 4 October 2017 entered into a Sale and Purchase Agreement (“SPA”) with Global Mobility Investments Limited (Company Registration No. 10799488), having its registered office at 73 Cornhill, EC3V 3QQ, London, United Kingdom, (“GMIL” or “Purchaser”) for the disposal of 70% of the issued and paid-up share capital consisting of 840,000 ordinary shares in Olympia Travels & Tours (Singapore) Pte Ltd (“OTTS”), for a total cash Consideration of Singapore dollars (“S$”) 840,000.00 (equivalent to RM2,609,796.00 based on 5-day average prevailing foreign exchange rate of 3.1069 prior to the signing of this SPA) (“Proposed Disposal”).
In a filing with Bursa Malaysia today, Olympia said its wholly-owned unit Olympia Ventures Sdn Bhd (OVSB) has inked a sale and purchase agreement with Global Mobility Investments Ltd, which is engaged in travel-related business, for the proposed disposal.
Olympia, a lottery operator which also runs number forecast pools, said it stands to gain about RM2.78 million from the proposed disposal, which is to streamline its operations by disposing of non-core assets and to realise its investment in OTTS.
“The net proceeds from the proposed disposal are expected to be utilised as working capital for the group,” it said.
The proposed disposal is also expected to reduce the group's gearing to 44%, from 44.3%, and raise its earnings per share to 0.5 sen, from 0.2 sen as at Dec 31, 2016.
Olympia expects the disposal to be completed by Jan 1, next year. Its shares closed unchanged at 13.5 sen today, for a market capitalisation of RM138.16 million. Year to date, the stock has gained about 80%.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
nekosan
3,637 posts
Posted by nekosan > 2017-09-11 10:05 | Report Abuse
hope you all run already above 0.16 ... game is officially over ... olvmpia will sink back to 8 cent