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Increase In Authorised And Paid-Up Capital Of Or Kim Peow Contractors (Private) Limited

BackAug 30, 2002

The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the authorised share capital of its wholly-owned subsidiary, Or Kim Peow Contractors (Private) Limited ("OKPC") was increased from S$8,000,000.00 to S$15,000,000.00 by the creation of an additional 70,000 ordinary shares of S$100.00 each.

The Company has also increased its investment in OKPC from S$6,800,000.00 to S$8,300,000.00. The increase in the issued and paid up capital of OKPC was made by way of subscription of 15,000 ordinary shares of S$100.00 each.

OKPC was incorporated in Singapore on 26 August 1977 and its principal activities are road construction and road maintenance.

The net tangible assets and earnings per share of the Company for the financial year ending 31 December 2002 is not expected to be materially affected by this increase in share capital of OKPC.

None of the Directors of the Company has any interest, direct or indirect, in the increase in investment. The Directors are not aware of any substantial shareholder having any interest, direct or indirect, in the increase in investment and have not received any notification of any interest in this transaction from any substantial shareholder.


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