OKP Holdings Subsidiary Wins S\$22.6 Million JTC Contract at Jurong Innovation District

Key Points for Investors

• Major Contract Secured: OKP Holdings Limited, through its wholly-owned subsidiary Eng Lam Contractors Co (Pte) Ltd, has secured a significant S\$22.6 million contract from JTC Corporation for infrastructure works at CleanTech Loop (Phase 2A), part of the Jurong Innovation District (JID).
• Order Book Strengthened: This is the second contract win for OKP within a year, boosting its net construction order book to a new record high of S\$615.9 million. The Group’s project pipeline now extends to 2031, providing strong earnings visibility.
• Project Timeline: The contract commenced in October 2025 and has a tenure of 22 months, with completion slated for August 2027.
• Scope of Works: The project encompasses construction of a dual-two lane road extension, new sewer and drainage systems, a 750-square metre elevated slab with pedestrian and cycling paths, covered linkway, bicycle parking, earthworks, slope stabilisation, landscaping, and M&E provisions.
• Adoption of NEC4 Contract: The project is among Singapore’s early adopters of the New Engineering Contract 4 (NEC4) Option C Target Cost Contract, encouraging collaborative project delivery and aligning incentives between client and contractor.
• Strategic Importance: The works will enhance connectivity, accessibility, and sustainability in CleanTech Park, supporting JTC’s vision for JID as a next-generation industrial hub.
• Commitment to Sustainability: OKP commits to incorporating sustainable construction methods and materials to minimise environmental impact.
• Recent Wins: This contract follows OKP’s May 2025 win of the Land Transport Authority cycling path network project, underpinning its position as a leading civil engineering partner for public sector agencies.

Details and Implications for Shareholders

The announcement that Eng Lam Contractors has clinched a S\$22.6 million public sector contract from JTC is a significant development for OKP Holdings. Not only does this award reflect the Group’s strong reputation and proven track record in Singapore’s infrastructure sector, it also immediately uplifts the company’s order book to S\$615.9 million—a record high for the Group.

This project is strategically located within JTC’s Jurong Innovation District, a cornerstone development in Singapore’s drive towards advanced manufacturing and sustainable, future-ready industrial estates. The scope of work is comprehensive, ranging from road, sewer, and drainage construction to connectivity enhancements such as an elevated slab for pedestrian and cycling access, covered linkways, and bicycle facilities. These improvements are expected to increase business activity, facilitate investment, and advance long-term growth in the area.

Importantly, the contract will be executed under the NEC4 Option C Target Cost Contract—a collaborative contracting model that marks a shift away from adversarial practices. This pilot initiative introduces transparency in cost management, incentivising both parties to control costs and share any savings or overruns. OKP’s role as contractor for this pilot project could position it as a preferred partner for similar collaborative projects in the future, potentially opening up new opportunities in the public infrastructure space.

OKP’s leadership, including Group Managing Director Mr Or Toh Wat, highlighted the contract as a testament to its expertise and its ongoing commitment to sustainable construction practices. The company’s execution of this project—especially with its emphasis on sustainability and innovation—will be closely watched as Singapore advances its green and smart city ambitions.

The Group’s robust order book, extending to 2031, assures shareholders of recurring revenue streams and underpins future earnings stability. Past projects and a diversified portfolio—including public and private sector infrastructure, property development, and investment properties in Singapore and Australia—further strengthen OKP’s financial position and growth prospects. Both Eng Lam Contractors and Or Kim Peow Contractors are A1-graded by the BCA, enabling them to bid for public sector projects of unlimited value.

Potential Share Price Impact

• This new contract win, raising the order book to a record S\$615.9 million, is a clear positive and could be price sensitive, signalling strong growth momentum and earnings visibility for the Group.
• Participation in the NEC4 pilot project may enhance OKP’s reputation and open new business opportunities, particularly as Singapore’s public sector embraces collaborative contract models.
• Ongoing diversification into property development and investment provides additional revenue streams and financial resilience.

About OKP Holdings Limited

Established in 1966, OKP Holdings Limited is a leading Singapore-based infrastructure and civil engineering specialist, with experience in airport infrastructure, expressways, bridges, oil & gas projects, and property development. The Group’s client base spans major government agencies and global industry players. In addition to construction, OKP has diversified into property development and investment, holding stakes in residential and commercial properties in Singapore and Australia.

Disclaimer

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should perform their own research or consult a professional advisor before making investment decisions. The information herein is based on company announcements and other public sources as of the date of publication and may be subject to change without notice.

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