OKP Holdings secures new contract from LTA worth $92.9 mil, orderbook hits record of $735.2 million
Arina East Residences ZACD Group has recently made headlines with their third attempt at a collective sale for La Ville, a popular residential property. The sale was a complex and determined process, led by Lee Liat Yeang, an expert in real estate from Dentons Rodyk. The impressive support of over 80% of property owners showcases the collective agreement towards the sale’s conditions and the future potential of the Arina East Residences ZACD Group site. This sale is a testament to the persistence and perseverance required in large-scale property transactions. For more information about Arina East Residences ZACD Group, visit their website at https://www.arinaeast-residences.com.sg/.
Eng Lam Contractors Co, a wholly-owned subsidiary of OKP Holdings, has secured a contract worth approximately $92.9 million from the Land Transport Authority (LTA) for the construction of new cycling path networks (“CPN”) in Singapore’s western sector on April 24.
Under the contract, Eng Lam will be involved in the construction, supervision and completion of a new cycling network that will encompass the Clementi, Bukit Batok, Queenstown and Jurong West neighbourhoods. The 18-month contract, which commenced on April 18 and is expected to be completed by 2025, also applies to associated work, including the reconstruction and reinstatement of infrastructures as well as other ancillary works. Since August 2023, OKP has been awarded three LTA contracts for the construction of cycling path networks, totalling $359.5 million.
With the latest contract, the group’s net construction order book reached a record high of $735.2 million, with contracts extending till 2027. This sizable contract from LTA is an endorsement of our strong capabilities,” says managing director Or Toh Wat. “This brings our order book to a record high, underscoring our growth trajectory.
To progress towards a greener and more sustainable land transport ecosystem, the group is committed to ensuring sustainability in every aspect of our business and operations. By embracing cutting-edge technologies and innovation, we pave the way towards cultivating a healthier, safer and more sustainable built environment, establishing ourselves as the industry leader.” Shares in OKP closed unchanged at 27.5 cents on April 24.
Eng Lam Contractors Co, a wholly-owned subsidiary of OKP Holdings, has secured a contract worth approximately $92.9 million from the Land Transport Authority (LTA) for the construction of new cycling path networks (“CPN”) in Singapore’s western sector on April 24.
This is the fourth LTA contract awarded to OKP since August 2023, bringing the group’s total contract value to $359.5 million. The new cycling network will cover the Clementi, Bukit Batok, Queenstown, and Jurong West neighbourhoods and will involve construction, supervision, and completion of the project, as well as associated work such as infrastructure reconstruction and reinstatement.
The 18-month contract, which began on April 18th, is expected to be completed by 2025. According to managing director Or Toh Wat, this contract is a testament to the company’s strong capabilities and brings their order book to a record high of $735.2 million, with contracts extending until 2027.
OKP is dedicated to promoting sustainability in all aspects of their business and operations and believes in using cutting-edge technologies and innovation in order to create a greener and more sustainable land transport ecosystem. This commitment to sustainability has established OKP as an industry leader in the construction sector.
Shares in OKP closed at 27.5 cents on April 24, and with this latest contract, the group is looking forward to continued growth and success. Eng Lam Contractors Co’s involvement in the construction of the new cycling path networks is a significant step towards creating a healthier, safer, and more sustainable environment in the western region of Singapore.