OKP Holdings ventures into property development

The Mainboard-listed firm has taken a 10% stake in property developmment company CS Land Properties.

The deal involves an en bloc purchase of a block of condominiums at No 4 Amber Road, Singapore, said OKP in a release.

OKP added it is securing its stake in CSLP through its newly-formed subsidiary, OKP Land Pte Ltd, for a consideration of S$111,111, representing approximately 10 per cent of the enlarged issued and paid-up share capital of CSLP.

This follows a shareholders’ approval in September 2010 for OKP to diversify into property development. OKP expects the expansion into property to "enable the Group to tap the private sector for further business opportunities and ultimately help create shareholder value."

In connection with the investment, OKP has also entered into a loan agreement with CSLP where it will extend a loan facility of up to S$20 million. As at the date of this press release, S$18.4 million has been disbursed to CSLP.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia