Olympia Industries Berhad is principally an investment holding company. It also engages in the provision of management services to its subsidiaries. Its subsidiaries are principally involved in property development, stockbroking, gaming, construction, paint spraying, restaurant operations and travel and tours

Olympia to Resume Sabah Lottery Operations on December 16
KUALA LUMPUR, Malaysia (December 8, 2001) -- Olympia Industries Bhd. expects to resume its lottery operations in Malaysia's eastern state of Sabah on December 16, the Edge Daily reports.
Initially, only 30 outlets will start their operations, however, the company expects all 40 of its outlets to be fully operational by January next year.
Olympia managing director Datuk Yap Yong Seong expressed confidence that the gaming operations would be able to do well in the state.
"We were after all the main operator in Sabah before," Yap was quoted as saying by the newspaper after the Mycom Bhd and Olympia's shareholders' meeting. Yap is also managing director of Mycom. On October 2 the Sabah
state government gave Olympia's wholly-owned unit Diriwan Corp. approval to recommence gaming operations in the state. It has been given licences to operate 40 sales outlets.
Olympia was forced to discontinue its lottery business in Sabah in 1996 after local authorities refused to renew its license, citing the presence of too many gaming operations in the state.
The newspaper said Yap declined to forecast the sales figure for the gaming operations. "We have been out of the market for five years. Maybe, we can have some figures within six months," he added.
On whether Olympia would expand its gaming operations beyond Sabah, Yap said the licences only allowed the company to operate its lottery operations in the state.
While he expressed interest in starting gaming operations overseas, he said: "At the moment, we have no plans to operate beyond Sabah."
SOURCE: The Edge Daily.

Lottery Operator Regains Licence
KUALA LUMPUR, Malaysia (September 26, 2001) - Malaysia's Olympia Industries has won a licence from the government of the eastern state of Sabah to resume its lottery operations, the state Bernama news agency said on Wednesday.
Diriwan Corp Sdn Bhd, a unit of Olympia, received approval for the renewal from the federal Ministry of Finance last week but had to wait for a trading licence from the state government.
Having been granted the second licence, Diriwan can restart its lottery operations from October 1. They were previously stopped in 1996 after Diriwan was found to have breached licensing conditions, Bernama said.
Shares of parent Olympia, which is also involved in real estate and financial services, were up three cents at 40 cents at 0831 GMT. The stock was the most actively traded on the Kuala Lumpur Stock Exchange, with 26 million shares changing hands.
SOURCE: Reuters News Service.

State Cabinet to Decide Today if Lotteries Corporation Can Resume Operations
KOTA KINABALU, Malaysia (September 26, 2001) -- According to domestic news sources Sabah's state Cabinet will decide today whether Olympia Industries Bhd will be allowed to resume its gaming business through its subsidiary Diriwan Corporation.
The 'Star' reported that Chief Minister Datuk Chong Kah Kiat said yesterday that the state's Local Government and Housing Ministry was expected to table a paper on the matter at the weekly Cabinet meeting today.
A government source said that local state authorities would have to issue trading licences to agents of Diriwan’s licence holder, Sabah Lotteries Corporation Sdn Bhd, before the company can resume its numbers forecast operations (NFO).
Last week Lottery Insider reported that Olympia had announced that the federal Finance Ministry had renewed its annual NFO licence, held by Diriwan, with effect from October 1.
Diriwan, through Sabah Lotteries, had been operating ‘Lotteries 88’ at 100 outlets in the state since 1988 but its licence was revoked in January 1996 after the company was convicted of operating an illegal lottery the year before.
Its gaming licence has been renewed annually by the Finance Ministry, but successive Barisan Nasional chief ministers had vetoed any move to allow local authorities to issue trading licences for Sabah Lotteries’ agents.
Lottery Insider also reported last week that the Finance Ministry had advised that it intends to reduced the number of Everise Ventures Sdn Bhd lottery outlets in Sabah by 10 from October 1. Everise Ventures Sdn Bhd, a subsidiary of Repco Holdings Bhd, currently operates 50 lottery outlets.
Sports Toto operates 33 lottery outlets in Sabah.
Local sources say that the state's various political and business groups have reacted cautiously to the news that Diriwan could soon renew its lottery operations.
SOURCE: STAR Sdn Bhd.