OKP Holdings

[weijian]

Another win for OKP on this niche high margin project. Based on the 2024 ST article, LTA has tendered out 4 CPN projects since 2023 (inclusive of the current one for the east region AM205) and it seems OKP has won all 4! 

The prior 2023 wins provided a ballast since 2H23 and will be largely completed in 2025. This new one is much larger in size but will be spread out over a longer time (~6years compared to the 3years for the prior projects)

OKP’S WHOLLY-OWNED SUBSIDIARY SECURES RECORD S$258.3 MILLION CONTRACT FROM LTA FOR THE CONSTRUCTION OF NEW CYCLING PATHS FOR EAST REGION

- Sizeable contract encompasses design and construction of Cycling Paths for East Region (AM205)
- 72-month contract commenced in May 2025, and is expected to be completed by May 2031

OKP’s wholly-owned subsidiaries were awarded four LTA contracts for the construction of CPN, totalling S$617.8 million. This comprises the aforementioned S$258.3 million contract for the construction of new CPN in the East Region (AM205), a S$92.9 million contract for the construction of CPN in Western Singapore (AM201), a S$78.3 million contract covering the regions of Central, Kallang, Bukit Merah and Bukit Timah (AM202), and a S$188.3 million contract for works across seven towns in the East Region (AM120)

https://links.sgx.com/FileOpen/LTA%20Con...eID=847571

2024 ST article on CPN tendered out by LTA
https://www.straitstimes.com/singapore/t...st-by-2030

[¯|_(ツ)_/¯]

OKP@94cents

Thanks WJ for sharing the news.

FY24, OKP won 5 tenders and we should expect more announcements.

I find that OKP website and annual reports contains quite a lot of information on it's business.

For those valuebuddies who are busy, hope that you could take some time to visit the 10 questions in SGX website:
(link to SGX)



Enjoy sheltered walkway umbrella free:


Gratitude!

[Big Toe]

I asked ChatGPT for the cost of all the Urban Cycling Path and PCN and this is what I get.
Total Estimated Cost (as of 2025)
Network Component Estimated Cost
Park Connector Network (PCN) S$500M–S$700M
Cycling Path Network (Urban) ~S$2B+
Total Combined Investment ~S$2.5B–S$3B+

Summary:
Each Singapore citizen is effectively “paying” S$700–S$830 for the full national cycling and PCN infrastructure.
This is a one-time cumulative cost over decades, not an annual tax.

To me, 700-800+ sounds reasonable as it is cumulative cost for such an extensive network.

[¯|_(ツ)_/¯]

OKP@104cents

H1 result just released tonight: (link to OKP website)

Rev $104m +41%
GP  $ 32m  +54%
NP  $ 19m  +56%

Company Outlook and Order Book Update
Looking ahead, the Group is cognisant of the headwinds facing the global economy, given heightened trade tensions resulting in disruptions to supply chains and geopolitical risks.

Nevertheless, the Group remains focused in building a sustainable and resilient business to navigate challenges effectively.

Enjoy & compare to new BKK covered walkway



Gratitude!