BSE suspends Olympia for flouting accounting rules

Mmegi Business has learnt that on the 31 May 2009, Olympia published unaudited preliminary accounts for the year ended 28 February 2009 which showed a profit after tax of P377, 429 but failed to report a loss of approximately P17 million.

The investment company, which is mainly involved in property development and other property-related activities like floor tile manufacturing, recently submitted a draft annual report for the same reporting period.