OKP Holdings unit buys $21m property from Crown Beverage

The site is held under a 30-year lease from Jurong Town Corporation.

OKP Holdings Limited’s subsidiary, Or Kim Peow Contractors (Private) Limited, completed the purchase of a $21m property from Crown Beverage Cans Singapore Pte. Ltd. on 8 October.

The property is held under a 30-year lease from Jurong Town Corporation, which began on 1 May 2024.

The purchase was completed through an assignment of the lease from Crown Beverage Cans Singapore, with approximately 27.5 years remaining.

The purchase is not expected to have any material impact on the net tangible assets per share or earnings per share of the company for financial year 2026.

Located at 455 Jalan Ahmad Ibrahim, the property comprises a part single-storey and part two-storey factory development with an approximate land area of 17,160 square metres.

Under the terms of the lease, the property may be used for storing construction materials, machinery and equipment, maintenance and repair of plant and equipment, and fabrication works.

The group has also obtained in-principle approvals to convert part of the property into a workers' dormitory for up to 800 workers.

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