OUR CORPORATE PROFILE
OKP Holdings Limited (OKP) and its subsidiary corporations are a leading infrastructure and civil engineering group in Singapore. We specialises in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads, airport infrastructure, and oil and gas-related infrastructure, for petrochemical plants and oil storage terminals.
We also undertakes maintenance works for roads and road-related facilities as well as building construction-related works. Over the past years, we have extended our core business to include property development and investment.
Started by Founder and Chairman, Mr Or Kim Peow, in 1966 as a sole-proprietorship, wholly-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd celebrated 50 years in business in 2016. Since then, OKP has grown in competencies and experience to become a leading infrastructure and civil engineering group today with two core business divisions – Construction and Maintenance. We tender for both public and private civil engineering and infrastructure projects as well as maintenance contracts.
Our various clients include both public and private sector organisations. Public sector clients include the Housing & Development Board, JTC Corporation, Land Transport Authority, National Parks Board, Public Utilities Board and Urban Redevelopment Authority. In the private sector, clients include the Changi Airport Group, ExxonMobil, Foster Wheeler Asia Pacific Pte Ltd, and WorleyParsons Pte Ltd.
Our key strategy is to establish solid foundations in our core competencies and at the same time, boost our presence in other revenue-generating sectors, thus ensuring a sustainable future. Our capabilities and status as a leading player in the public sector have been well acknowledged, particularly in Singapore. Or Kim Peow Contractors (Pte) Ltd and Eng Lam Contractors Co (Pte) Ltd, our wholly-owned subsidiary corporations, are A1 grade civil engineering contractors under the Building and Construction Authority's Contractors' Registry, which allows them to tender for public sector construction projects of unlimited value.
Taking a long-term view, we made several strategic moves to build up our proficiencies and enhance our track record in the competitive environment by investing in several joint ventures. In 2014, OKP invested in an associated company, United Singapore Builders Pte. Ltd., with four other established construction companies with the aim oof participating in complex project tenders and undertaking these projects if successful in tenders.
We also constantly seek new opportunities to build on our property development and investment portfolio, through joint ventures as well as on our own. In February 2018, we won a tender jointly with Lian Soon Holdings Pte. Ltd. for the acquisition of a land parcel at Chong Kuo Road in Singapore. There are plans to develop this land parcel into a residential condominium of 84 units.
Another winning tender was the acquisition of 71-85 Phoenix Avenue, Phoenix Heights, Singapore in August 2018 with plans to redevelop the property.
In February 2018, we acquired our first overseas property, a freehold modern office complex at 6-8 Bennett Street, East Perth in Australia jointly with HSB Holdings Pte. Ltd..
Our past property development projects include a 546-unit executive condominium, LakeLife, at Yuan Ching Road/Tao Ching Road in Singapore and a luxury condominium, Aber Skye, at Amber Road.
Another of our business goals is to contine to extend our presence in the oil and gas industry after entering the sector in 2000. When we won a project related to the $750.0 million Universal Terminal, a massive petroleum storage facility on Jurong Island, Singapore's oil refining and petrochemical hub. Since then, we have won various other projects including civil works relating to ExxonMobil's multi-billion dollar petrochemical project, known as the Second Petrochemical Complex, as well as land reclamation works on Jurong Island.
Through the years, we have won various awards for our reports, corporate governance, safety and environment efforts and investor relations. In August 2010, we made it to Forbes Asia's “Best Under A Billion” list, the magazine's annual ranking of the top 200 firms in the Asia-Pacific region, which were selected from a list of nearly 13,000 publicly-listed top performers with sales under US$1 billion. We have also received “Singapore 1000 Company” Certificates of Achievement from DP Information Group for many years.
Listed on the Singapore Exchange since 26 July 2002, OKP's market capitalisation was $61.7 million (2017: $104.9 million) while net tangible assets amounted to $121.8 million (2017: $120.8 million) as at 31 December 2018.