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Business Overview

(Extracted from Annual Report 2017)

OUR CORPORATE PROFILE

OKP Holdings Limited (OKP) and its subsidiary corporations are a leading infrastructure and civil engineering group in Singapore. The Group specialises 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.

In addition, OKP undertakes maintenance works for roads and road-related facilities as well as building construction-related works. Over the past decades, 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-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd celebrated 50 years in business in 2016. Since then, the Group has grown in capabilities and experience to become a leading infrastructure and civil engineering group today with two core business divisions – Construction and Maintenance. The Group tenders for both public and private civil engineering and infrastructure construction 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 Pacifi c Pte Ltd, and WorleyParsons Pte Ltd.

CORPORATE DEVELOPMENTS

The Group’s central strategy is to build up strong foundations in our core competencies and at the same time, enhance our presence in other revenue-generating sectors, thus ensuring a sustainable future for the Group. Our expertise and reputation as a leading player in the public sector have been well recognised, especially in Singapore. Or Kim Peow Contractors (Pte) Ltd and Eng Lam Contractors Co (Pte) Ltd, both 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.

Thinking ahead, the Group made several strategic moves to grow its capabilities and boost its reputation 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 goal of taking part in Mass Rapid Transit (MRT) project tenders and take on MRT projects if successful in tenders.

We also constantly seek new 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. In October 2014, LakeLife was successfully launched and almost all its units were sold. The Temporary Occupation Permit was granted on 30 December 2016.

In June 2012, OKP Land Pte. Ltd., took a 10 per cent stake in CS Amber Development Pte. Ltd., a subsidiary corporation of CS Land Pte Ltd., the property arm of CS International (S) Pte. Ltd. Currently, the property developer is developing a luxury condominium project, Amber Skye, at Amber Road, which has been launched for sale.

Earlier in December 2010, whollyowned subsidiary corporation, Or Kim Peow Contractors (Pte) Ltd, entered into a 50-50 joint venture with Soil-Build (Pte) Ltd, a whollyowned 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.

Another of OKP’s business goals is to continue to increase its presence in the oil and gas industry. In 2006, the Group 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, the Group has won numerous other projects including civil works relating to ExxonMobil’s multi-billion dollar petrochemical project, known as the Second Petrochemical Complex. In August 2010, the Group advanced its progress in the sector with the signing of a contract for land reclamation works on Jurong Island.

Through the years, the Group has won various awards for its annual reports, corporate governance and investor relations eff orts. In August 2010, the Company 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 $104.9 million (2016: $89.4 million) while net tangible assets amounted to $120.8 million (2016: $112.7 million] as at 31 December 2017.


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