OUR CORPORATE PROFILE
OKP Holdings Limited (OKP) and its subsidiary corporations are a leading infrastructure and civil engineering group in Singapore. We specialise in the construction of airport runways and taxiways, expressways, fl yovers, 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 constructionrelated works. Over the years, we have expanded our core business to include property development and investment.
Started by Founder and Chairman, Mr Or Kim Peow, in 1966 as a soleproprietorship, wholly-own subsidiary corporation Or Kim Peow Contractors (Pte) Ltd celebrated 50 years in business in 2016. Since then, OKP has grown and exceeded past aspirations 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 construction projects as well as maintenance contracts.
Our 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 Pacifi c Pte Ltd, and WorleyParsons Pte Ltd..
Our key strategy is to establish solid foundations in our core competencies while increasing our presence in other revenue-generating sectors, thus building a strong future for the company. Our expertise and reputation as a leading player in the public sector have been well acknowledged, especially in Singapore. Our wholly-owned subsidiary corporations, Or Kim Peow Contractors (Pte) Ltd and Eng Lam Contractors Co (Pte) Ltd, 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.
In strategic moves to expand its capabilities and boost its competitiveness, OKP has invested in a few joint ventures. In 2014, we invested in an associated company, United Singapore Builders Pte. Ltd., with four other established construction companies with the aim of participating in Mass Rapid Transit (MRT) tenders and undertake MRT projects if awarded.
We also frequently keeps an eye for fresh opportunities to build on our property development and investment portfolio. In September 2013, OKP Land Pte Ltd. formed a joint venture company, Lakehomes Pte. Ltd., with BBR Development Pte. Ltd., Evia Real Estate (5) Pte. Ltd., CNH Investment Pte. Ltd. and Ho Lee Group Pte Ltd to develop a 546-unit executive condominium, LakeLife, at Yuan Ching Road/Tao Ching Road in Singapore. LakeLife was successfully launched in October 2014 and sold almost all its units and the Temporary Occupation Permit had been received on 30 December 2016.
In June 2012, OKP Land Pte. Ltd., took a 10.0 per cent stake in CS Amber Development Pte. Ltd., a subsidiary corporation of China Sonangol Land Ltd., the property arm of China Sonangol International (S) Pte. Ltd. The property developer is currently developing a luxury condominium project, Amber Skye, at Amber Road, which has been launched for sale.
Earlier in December 2010, wholly-owned subsidiary corporation, Or Kim Peow Contractors (Pte) Ltd, entered into a 50- 50 joint venture with Soil-Build (Pte) Ltd, a wholly-owned subsidiary corporation of Soilbuild Construction Group Ltd, which is an established construction company in Singapore. In the same month, the new joint venture company, Forte Builder Pte. Ltd., secured a $83.5 million contract from Angullia Development Pte. Ltd. to undertake the construction of a luxury condominium in Angullia Park, Orchard Road. The development has since been completed.
Continuing to grow its presence in the oil and gas industry is another of our Group's business goal. In 2006, OKP fi rst entered this sector when it won a project related to the $750.0 million Universal Terminal, a massive petroleum storage facility on Jurong Island, Singapore's oil refi ning and petrochemical hub. Since then, OKP has secured numerous other projects including civil works relating to ExxonMobil's multi-billion dollar petrochemical project, known as the Second Petrochemical Complex. In August 2010, OKP made greater progress in the sector with the signing of a contract for land reclamation works on Jurong Island.
Through the decades, OKP has won various awards for its annual reports, corporate governance and investor relations efforts. In August 2010, OKP made the Forbes Asia's “Best Under A Billion” list, the magazine's annual ranking of the top 200 fi rms in the Asia- Pacifi c region, which were selected from a list of nearly 13,000 publicly-listed top performers with sales under US$1 billion. It also received “Singapore 1000 Company” Certifi cates of Achievement from DP Information Group for many years.
Listed on the Singapore Exchange since 26 July 2002, OKP's market capitalisation was $89.4 million (2015: $67.9 million) while net tangible assets amounted to $112.7 million (2015: $102.9 million] as at 31 December 2016.