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OKP Holdings secures new contract from LTA worth $92.9 mil, orderbook hits record of $735.2 million

By Bryan Wu,

The Edge Singapore

/ EdgeProp Singapore |

April 24, 2024 10:49 PM SGT

Or:Toh Wat: This sizable contract from LTA is an endorsement of our strong capabilities; It brings our order book to a record high, underscoring our growth trajectory (Photo: Samuel Isaac Chua/EdgeProp Singapore)

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.

Read also: OKP Holdings' wholly-owned subsidiary secures $95.9 mil contract from LTA

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,” he adds.

Shares in OKP closed unchanged at 27.5 cents on April 24.

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