Mainboard-listed OKP Holdings has secured a contract worth $49.6 million from the Public Utilities Board (PUB) on Aug 30.
The contract brings the group’s current net construction order book to $263.7 million, with contracts extending till 2024.
Under the terms of the contract, OKP Holdings will provide works involving the upgrading of Sungei Selarang. This includes the construction of Contiguous Bored Pile (CBP) wall, ground improvement, reinforcement concrete, and ancillary activities. The works will begin on Sept 8 and are expected to be completed by June 7, 2024.
See also: OKP Holdings reverses from losses to earnings of $3.3 mil for FY20
OKP is currently involved in the improvement of West Coast Road Outlet Drain No. 6, another project from PUB.
“We are encouraged to secure this latest contract win from PUB, a new addition to our construction order book. The contract win has further affirmed confidence in our longstanding expertise and competence in infrastructure and civil engineering projects,” says Or Toh Wat, OKP Holdings’ group managing director.
“We will continue to harness our strengths and specialisation in the field to ensure consistent execution and delivery of our projects,” he adds.
Shares in OKP Holdings closed flat at 19 cents on Aug 30.
