Olympia takes US$4.78M OSK facility, pushing gearing to 53.7%
What's the deal? Olympia Industries Berhad has accepted a credit facility of up to US$4.78M from OSK Capital Sdn Bhd. The Malaysian investment holding company, listed on Bursa MalaysiaDealroom has a profile for this one. Try Dealroom →, confirmed the acceptance on November 11, 2026. The money is earmarked for working capital and other purposes at the lender's discretion.
What's the endgame? Olympia operates across leasing, property development, and gaming, with subsidiaries spanning lotteries and property investment. The facility is secured by a third-party second legal charge over a freehold land parcel in Mukim Batu, Kuala Lumpur, held in trust for Olympia Properties Sdn Bhd.
Why it matters: The borrowing lifts group gearing to 53.7% from 47.1%, a 6.6-percentage-point jump based on audited accounts for the year ended December 31, 2025.
What could go wrong? Olympia remains loss-making. In the six months to June 2026, revenue rose about 14% year on year to US$11.3M, but it posted a net loss of US$1.58M. The company did not disclose the facility's interest rate, tenure, repayment schedule, or covenants, leaving its true cost unclear.
The second charge also signals prior-ranking claims over the same land, limiting OSK Capital's recovery position if things sour.
The other side: Olympia and DutaLand proposed a US$35.9M land disposal in April, which the company said would help pare borrowings. The new facility suggests debt reduction is only part of the picture.
The signal: Adding leverage while still in the red is a financing-risk flag worth watching. The next quarterly report — covering drawdown, interest cost, and updated gearing — will show whether the facility steadies operations or deepens the strain.
Read more: minichart.com.sg, Financial Times
Image credit: Ezry A Rahman
