OKH Global the acquire the construction business of Chip Eng Seng for S$118.5m.

OKH Global, a property developer, agreed to acquire the construction business of Chip Eng Seng, a multinational conglomerate company, for S$118.5m. “OKH is facing a pivotal moment for the continuity of the business. While our divestment and gearing reduction strategy has been critical for the successful turnaround of OKH Global Ltd., the acquisition will revitalise the business and provide a strong financial footing for us to pursue future growth opportunities. We see robust demand in the building and construction sector and the acquisition will allow OKH to gain access to the Target Group’s suite of credentials and certifications, participate in a wider range of tenders, and be well-positioned to capitalise in the strong momentum of the sector,” Lock Wai Han, OKH Global Executive Director and CEO.