Kenny Height Developments Sdn Bhd and Duta Equities Sdn Bhd has made an offer to acquire 66.917851% stake in Olympia Industries Berhad (KLSE:OLYMPIA) for MYR 55 million on July 18, 2022. The deal is conditional upon Olympia Industries Berhad (KLSE:OLYMPIA) shareholders acceptance. The offer will close on August 29, 2022. As of August 18, 2022, the independent advice circular was issued and it is recommended by UOB Kay Hian Securities (M) Sdn Bhd which was appointed as independent adviser to reject the offer. As of August 24, 2022, Minimum Tender was achieved and the offer became unconditional.

Kenny Height Developments Sdn Bhd and Duta Equities Sdn Bhd completed the acquisition of 19.77% stake in Olympia Industries Berhad (KLSE:OLYMPIA) for MYR 16.18 million on September 7, 2022.