In a statement to the bourse on Friday April 9, Olympia said the sale of DMRR would enable Olympia to settle debts amounting to approximately RM172.5 million as Menara Olympia and the land are currently charged to secure the loan facility.
This, in turn, translates into interest savings of some RM23.2 million for the seller due to early settlement of the loan.
Net cash proceeds of RM11.37 million from the disposal are intended as working capital for Olympia.
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