SINGAPORE (July 26): Construction and road maintenance company OKP Holdings says its wholly-owned subsidiary, Or Kim Peow Contractors, has agreed to purchase a building at 7 Woodlands Industrial Park E2 from Advance-Tec Engineering for $2.2 million for investment purposes.

The property, which is to be sold on vacant possession upon the transaction’s expected completion on July 28, comprises a three-storey terrace factory with a workshop, office and dormitory, and occupies a lot area of about 680 sq m.

It has a leasehold tenure of 60 years which commenced from Sept 25, 2006.

OKP does not expect the purchase to have a material impact on its earnings for FY17.

The story, written by Michelle Zhu, first appeared on The Edge Singapore.