Hu Jinbiao closed at 72.5 points on Friday, up 1.4%.
Hu Jinbiao disclosed after the market closed on Friday (May 30) that the contract will last for 72 months, starting from May 27 and expected to end on May 26, 2031.
OKP Holdings received a contract worth approximately RMB 258.3 million from the Land Transportation Administration (LTA) to build new bike lanes in 11 municipalities and towns in the eastern region.
As of now, the group's net construction order volume has reached RMB 735.8 million, a record high.
Under the latest contract, Or Kim Peow Contractors, a wholly-owned subsidiary of the Group, will participate in the design and construction of the bike lane, as well as other auxiliary works, including the conversion of the existing footpath into a bike lane and the construction of new footpaths.
Hu Tufa, managing director of Hu Jinbiao Holdings, said that the latest contract is the largest contract the group has ever obtained, which will help increase the group's revenue and net profit.
Including the above-mentioned contract of RMB 258.3 million, the wholly-owned subsidiary of the group has obtained a total of four contracts for the construction of bicycle lanes, with a total value of RMB 617.8 million. These contracts include RMB 92.9 million for the construction of a bicycle lane in the western region; RMB 78.3 million for the central, Kallang, Tanah Merah and Bukit Timah; and RMB 188.3 million for the seven municipalities in the eastern region.