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Business Overview

(Extracted from Annual Report 2019)

OUR CORPORATE PROFILE

OKP Holdings Limited (OKP) and its subsidiary corporations are a leading transport infrastructure and civil engineering group in Singapore. The Group 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 undertake maintenance works for roads and road-related facilities as well as building construction-related works. Over the past decades, OKP has expanded its core business to include property development and investment.

Wholly-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd celebrated 50 years in business in 2016, was started by founder and Chairman, Mr Or Kim Peow, in 1966 as a sole-proprietorship. Since then, the company has grown its capabilities and established its track record to become a leading transport 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.

CORPORATE DEVELOPMENTS

Our key strategy is to fortify our strengths in our core competencies and at the same time, increase our presence in other revenue-generating sectors, thereby enabling a bright and sustainable future. Our abilities and position as a leading player in the public sector have been well recognised, 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 permit them to tender for public sector construction projects of unlimited value.

Taking a strategic view, OKP has embarked on key initiatives to develop its expertise and boost our experience in the competitive business environment by investing in several joint ventures. In 2014, the Group invested in an associated company, United Singapore Builders Pte. Ltd., with four other established construction companies with the goal of taking part in complex project tenders and executing the secured projects.

In addition, OKP constantly explores fresh opportunities to enhance its property developments and investment portfolio, through joint ventures as well as on its own. We won a tender jointly with a joint partner to acquire a land parcel at Chong Kuo Road in Singapore in February 2018. The development of The Essence, a residential condominium comprising 84 units, is underway.

Another winning bid was 71-85 Phoenix Avenue, Phoenix Heights, Singapore in August 2018, which is now being developed into another residential condominium.

The Group took a big step forward in February 2018 by acquiring its first overseas property, a freehold modern office complex at 6-8 Bennett Street, East Perth in Australia. The acquisition was done jointly with a partner.

In the past years, OKP had been involved in property development projects such as a 546-unit executive condominium, LakeLife, at Yuan Ching Road/Tao Ching Road and a luxury condominium, Amber Skye, at Amber Road, both in Singapore.

In November 2019, the Group purchased a property at 32 Tagore Lane, Singapore 787485 for investment. The freehold property comprises a two-storey corner light industrial terrace factory, occupying an area of 6,469 square ft.

Through the decades, the company has won various awards for its annual reports, corporate governance, safety and environment efforts and investor relations.

In 2019, our associated company Chong Kuo Development Pte Ltd was recognised for three awards for The Essence – Boutique Condo Interior Design (Winner), Best Boutique Development High Density (Highly Commended) and Best Boutique Condo Architectural Design (Highly Commended) - at Property Guru Asia Property Awards Singapore 2019.

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. The company has 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 (2018: $61.7 million) while net tangible assets amounted to $119.4 million (2018: $121.8 million) as at 31 December 2019.


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