OKP swings into red for Q4, posts net loss of S$1.8m

OKP swings into red for Q4, posts net loss of S$1.8m.

The group expects the cost of construction and other operating costs to continue rising amid a challenging operating environment and the Covid-19 outbreak. It remains cautiously optimistic, given its healthy pipeline of construction projects with an order book of S$283.1 million as at Dec 31, 2019.

Group managing director Or Toh Wat said the company will focus on diversifying its business, improving productivity through technology and upgrading its talent pool in the years ahead. "Heading into a new decade, as we execute our strategy, we will look to widen our presence in more industry sectors and diversify our earnings through property development and other investments, for continuous business growth," he said.

The board has declared a final dividend of 0.7 cent per share, compared to final and special dividends totalling one cent in the corresponding period of the previous year. OKP shares closed down one cent or 5.3 per cent to S$0.18 on Friday before the results were announced.

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