PIE work site crumple: OKP shares tumble 14% subsequent to exchanging resumes

SINGAPORE – Shares of OKP Holdings – the development firm required in a week ago’s crumple of the uncompleted PIE viaduct – tumbled when exchanging the stock continued on Monday (July 17).

In the wake of sinking about 14 for every penny after the opening chime, the offers were down 4.5 Singapore pennies or 11.4 for each penny to 35 pennies at 9.25am.

The mainboard-recorded organization had required an exchanging stop on Friday morning under six hours after the fall of a structure at its backup’s Upper Changi Road East viaduct extend site, killing one specialist and harming 10 others.

stocks newsThe mischance was the most recent including the association’s entirely claimed backup, Or Kim Peow Contractors, which was discovered liable of a 2015 security rupture, only three days before the PIE structure fallen, in which one specialist kicked the bucket and three others were harmed.

Prior to that occurrence, MOM had additionally hit the firm with 25 negative mark focuses and boycotted it from January to April this year, when it was banished from utilizing remote specialists.

The organization had won the S$94.6 million delicate in November 2015 to build a restricted, two-path viaduct from the Tampines Expressway to the Pan-Island Expressway and Upper Changi Road East. Together with extend advisors CPG Consultants, OKP was relied upon to finish the viaduct and the encompassing street works in mid 2020.

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