OKP clarifies article in The Edge

The company reacted as there were inaccuracies in the report.

The statement said:

The Board of Directors of OKP Holdings Limited refers to the article entitled “The Chinese developers are coming” published in The Edge on 17 September 2012.

It was stated in the article that, “OKP Holdings’ group financial controller, Ong Wei Wei, says the company is paying $80 million cash for a 20% stake in the Amber Towers project, its maiden foray into property development.”

The Company wishes to clarify that the Group had invested an aggregate of approximately $18.5 million in CS Land Properties Pte. Ltd. (now known as CS Amber Development Pte. Ltd.), the developer of the Amber Towers project, for a 10% stake in the company.

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