Monday, August 22, 2011


OKP: Co has sold 15m vendor shares to China Sonangol Intl at $0.66 per share, or a total consideration of $9.9. China Sonangol's parent is an overseas conglomerate engaged in the oil, gas and minerals business as well as national infastructure construction projects.

China Sonangol now holds 14.2% of OKP and has awarded a contract to OKP in the past, a condo dev in Anguilia Park. Most recently, co also won a $4.9m contract for sewer works in Tuas. OKP has current P/E of 8.7x vs hist avg of 15.0x.

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