- OKP Holdings has faced difficulties in the past due to the fatal accident at their project in 2017.
- With respect to the accident, OKP succeeded in the Arbitration against the design consultant and awarded S$43,792,421.96.
- Also with respect to the accident, they were not actively pursuing government tenders from 2017-2020. Unlike majority of Singapore’s construction industry, they avoided executing projects that were badly affected by cost increases arising from the pandemic.
- OKP has regained momentum in new contract wins worth $384.5mil since Nov 2022.
It has been a long time since I covered OKP Holdings (SGX:5CF). In fact, it was 2019 when I
believed that they have the ability to overcome their difficulties. With the dust settled behind them and armed with a huge cash holdings, they are getting back on its feet.
A Recap
In 2017, there was an accident at their project where an uncompleted viaduct along Upper Changi Road collapsed. One worker died and 10 others were injured....
