The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the tender Contract No. ER116 - Widening of Loyang Avenue from Loyang Way to Changi Village ("the Contract") by its wholly-owned subsidiary, Eng Lam Contractors Co. (Pte) Ltd, has been accepted by the Land Transport Authority.
The amount of the tender is SGD8,476,000 and the commencement date for the Contract is 7 August 2003. The Contract is expected to be completed by 6 November 2004.
The Contract is expected to contribute positively to, but has no material impact on, the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current financial year ending 31 December 2003.