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OKP sees hit from lower construction demand

It will be prudent in share buybacks; plans to launch a second project, Phoenix Heights, in the second half of 2020, 'depending on prevailing market conditions'

Annabeth Leow

Published Sun, Apr 26, 2020 · 09:50 PM

okp holdings

Singapore

CONSTRUCTION group OKP Holdings will "exercise prudence" when it comes to share buybacks, while warning that it expects to take a hit from an industry shutdown amid the novel coronavirus outbreak in Singapore.

The board confirmed, in a reply to investor queries on Saturday, that projects will be delayed on the back of Singapore's "circuit-breaker" measures, supply-chain disruptions to materials, and the spread of the deadly disease in foreign workers' quarters.