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 carries out maintenance works for roads and road-related facilities as well as building construction-related works. Over the past decade, OKP has grown its core business to include property development and investment.
Wholly-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd (OKPC) was started by founder and Chairman, Mr Or Kim Peow, in 1966 as a sole proprietorship and celebrated 50 years in business in 2016. Since then, the Group has grown considerably while strengthening its capabilities and establishing its decades-long track record to realise its vision to be a leading transport infrastructure and civil engineering company in Singapore, the region and beyond. Our organisation has two core business divisions, construction and maintenance, and tenders for public and private civil engineering and infrastructure projects as well as maintenance contracts.
Through the years, OKP has worked assiduously and effectively to achieve its mission to be the first and preferred civil engineering contractor for the various industries. The Group has acquired a strong list of clients from both public and private sectors. 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
With the Covid-19 pandemic behind us, many countries worldwide are moving ahead and accelerating the recovery of their economies. The Group finds itself in a similar position. But we have to be agile in adapting to difficult challenges so as to achieve our business goals. Our strategy is to strengthen our resilience by staying focused on our core competencies and at the same time, building our presence in other revenuegenerating sectors such as property development and investment. Our capabilities and position as a leading player in the public sector have been well recognised, especially in Singapore.
Our wholly-owned subsidiary corporations, OKPC and Eng Lam Contractors Co (Pte) Ltd, are A1 grade civil engineering contractors under the Building and Construction Authority Contractors' Registry, which allow them to tender for public sector construction projects of unlimited value.
Taking a strategic view, OKP has embarked on several key initiatives to develop its expertise and broaden its 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 three other established construction companies with the aim of taking part in complex project tenders.
In addition, the Group regularly explores opportunities to build its property development and investment portfolio, through joint ventures as well as on its own.
Two recent projects in Singapore by the Group are performing well. The condominium, Phoenix Residences at Phoenix Road, was launched in November 2020 and re-launched in July 2021. All 74 units of this project were sold and it is expected to attain its temporary occupation permit (TOP) in July 2024.
The other development, which is OKP's joint venture residential project, The Essence, an 84-unit development, was launched in March 2019 and has attained full sales and obtained its TOP in June 2023.
To strengthen and diversify its business, the Group has invested in several properties locally and overseas. In Singapore, OKP owns a portfolio of investment properties. These include three purchases in 2021 – a freehold three-storey shophouse situated at 35 Kreta Ayer Road, and two freehold two-storey conservation shophouses located at 69 and 71 Kampong Bahru Road. In 2019, one freehold property comprising a two-storey corner light industrial terrace factory at 32 Tagore Lane was acquired.
The Group took a significant strategic step by acquiring its first overseas property, a freehold office complex in Australia in April 2018 with a partner. This property at 6-8 Bennett Street in East Perth, Western Australia is fully occupied by a mix of government and corporate tenants.
Through more than 50 years, OKP has won various awards for its annual reports, corporate governance, safety and environment efforts and investor relations. Since 2006, OKP has won numerous safety awards, green and gracious awards, one construction environment award and one Eco-Office certification.
In 2019, our associated company, Chong Kuo Development Pte Ltd, was recognised with 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 $66.0 million (2022: $47.6 million) while net tangible assets amounted to $167.8 million (2022: $122.0 million) as at 31 December 2023.