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Business Overview

(Extracted from Annual Report 2020)

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 gasrelated infrastructure for petrochemical plants and oil storage terminals.

The Group also undertakes maintenance works for roads and road-related facilities as well as building construction-related works. Over the past years, the Group has expanded its core business to include property developments and investments.

Having celebrated 50 years in business in 2016, wholly-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd was started by founder and Chairman, Mr Or Kim Peow, in 1966 as a soleproprietorship. Since then, the company has grown its competencies and established its track record to become a leading transport infrastructure and civil engineering company today with two core business divisions – construction and maintenance. The Group tenders for both public and private civil engineering and infrastructure 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 Pacific Pte Ltd, and WorleyParsons Pte Ltd.

CORPORATE DEVELOPMENTS

Amidst the economic turmoil due to the Covid-19 pandemic, OKP has embraced changes to prevail and achieve our business goals. Our core strategy is to build our resilience by boosting our strengths in our core competencies and at the same time, growing our presence in other revenue-generating sectors. Our abilities and position 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 allow them to bid for public sector construction projects of unlimited value.

Taking a strategic view, OKP has started several significant initiatives to develop its expertise and widen its experience in the competitive business environment by investing in several joint ventures. In 2014, the company invested in an associated company, United Singapore Builders Pte. Ltd., with four other established construction companies with the aim of participating in complex project tenders.

In addition, the Group regularly explores new opportunities to build its property developments and investment portfolio, through joint ventures as well as on its own. We won a bid 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, was launched in March 2019 with good sales. Another winning bid was Phoenix Residences in Singapore in August 2018, a 74-unit residential condominium, which was launched in December 2020 to warm response.

The company made a major 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, 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 2020, the Group acquired a shophouse at 35 Kreta Ayer Road, Singapore 089000 for $11.3 million for investment. This freehold property comprises a three-storey with attic shophouse and occupies an area of approximately 1,568 sq ft and has a total floor area of approximately 4,240 sq ft. Another investment property at 32 Tagore Lane, Singapore 787485 was purchased in November 2019. This freehold property comprises a twostorey corner light industrial terrace factory, occupying an area of 6,469 sq ft.

Through the decades, OKP has won various accolades 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 publiclylisted 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 $54.6 million (2019: $61.7 million) while net tangible assets amounted to $121.4 million (2019: $119.4 million) as at 31 December 2020.


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