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Centurion Corp
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ysh2006
Supreme |
31-Aug-2026 15:03
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So far so good got awarded building projects and can have extension of 3 yrs living dormitory period .
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Joelton
Supreme |
28-Aug-2026 14:19
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Centurion Corp nearing acquisition of 26-storey building in Hong Kong&rsquo s North Point Mainboard-listed Centurion Corporation has signed a provisional sales and purchase agreement for the acquisition of Yan Woo Building in North Point, Hong Kong, City & Country has learnt. In an Aug 27 statement, the company says it is currently negotiating the final sales and purchase agreement. The 26-storey building comprises approximately 26,070 sq ft in gross floor area (GFA) of domestic residential accommodation and approximately 8,216 sq ft in GFA of commercial space. Hong Kong media outlets reported on Aug 27 that Centurion had acquired the property for some HK$364 million ($59 million), with plans to convert the asset into student housing or serviced residences that could yield around 5.5%. The company did not confirm the reported figure. In a statement to City & Country, the company says it intends to acquire the property through a joint venture between Centurion Corporation and Centurion Properties, with both parties holding equal stakes. &ldquo The company will make the relevant announcements in due course on the signing of the final sale and purchase agreement,&rdquo reads the statement. Centurion currently operates two purpose-built student accommodation (PBSA) assets in Hong Kong &mdash Dwell Prince Edward and Dwell Ho Man Tin, both in the Kowloon district. Together, the two properties operating under the group&rsquo s own brand offer 114 beds. Driven by higher enrolment caps for foreign students and a supply crunch in student beds, Hong Kong PBSA is among the region' s hottest asset classes today, attracting investors with yields of up to 6%, sources tell City & Country. Shares in Centurion Corporation closed 1 cent lower, or 0.6% down, at $1.58, on Aug 27. |
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Joelton
Supreme |
26-Aug-2026 09:44
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Centurion Corp launches $200 mil worth of five-year sustainability notes Centurion Corporation has launched its inaugural sustainability notes, raising $200 million. The five-year notes, issued under Centurion&rsquo s $750 million multicurrency debt issuance programme and under its sustainability financing framework, will carry a coupon of 4%. They will mature on Sept 1, 2031. This is Centurion&rsquo s largest and longest-dated bond issuance, According to the group, this is the first sustainability notes issuance in Singapore that&rsquo s dedicated to the purpose-built accommodation sector, which includes purpose-built workers&rsquo accommodation (PBWA) and purpose-built students&rsquo accommodation (PBSA). &ldquo Sustainable purpose-built accommodation can enable more efficient use of land and resources while providing better living environments for workers and students,&rdquo says the group in its Aug 25 release. &ldquo Net proceeds will be used to fund, finance or refinance eligible green and social projects across the group&rsquo s specialized accommodation portfolio, including green certified buildings, renewable energy, energy efficiency improvements, climate resilience measures, affordable accommodation and access to essential services that support resident well-being,&rdquo it adds. The notes are expected to be issued on Sept 1 and listed on the Singapore Exchange (SGX) on Sept 2. DBS Bank is the sole lead manager and bookrunner and sole sustainable finance adviser. Centurion&rsquo s CEO Kong Chee Min says the group has set targets to reduce energy and water intensity across its facilities and to &ldquo reduce embodied and operational emissions&rdquo in the assets developed and managed by the group by 2030. " Sustainability has been a focus for the group for some years, in how we design and build our assets and in how we care for our residents,&rdquo he adds. &ldquo This landmark issuance is a testament to the growing maturity of Singapore' s sustainable finance ecosystem,&rdquo says Clifford Lee, global head of investment banking at DBS. Purpose-built accommodation is more than real estate &ndash it is essential social infrastructure that supports communities, including workers and students.&rdquo As at 4.27pm, shares in Centurion are trading flat at $1.59. |
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Joelton
Supreme |
15-Aug-2026 16:10
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DBS, Maybank remain positive on Centurion Corp Maybank ups TP to $1.78 DBS Group Research and Maybank Securities have maintained their &ldquo buy&rdquo calls on CenturionCorporation after the group&rsquo s core profits beat expectations. Centurion&rsquo s revenue for the 1HFY2026 ended June 30 was up 31% y-o-y to $184.9 million. Gross profit rose by 34% y-o-y to $146 million, while gross profit margin expanded by 1.8 percentage points y-o-y to 79%. Profit from core business operations grew by 34% y-o-y to $87.7 million. However, earnings fell by 64% y-o-y to $26.5 million due to deeper net fair value losses. Earnings from core business operations fell by 16% y-o-y to $48.8 million due to a larger non-controlling interest share after the listing of CAREIT in 2025, as well as the distribution in specie in 2QFY2026. With higher margins and operating leverage, Maybank&rsquo s Eric Ong has a higher target price of $1.78 from $1.69, based on an FY2027 P/B multiple of 1.1 times. Ong has also raised his earnings per share (EPS) estimates for FY2026 to FY2028 by 6% to 14% to 11.5 cents, 12.2 cents and 13 cents for the three years. Accordingly, his core net profit estimates for FY2026, FY2027 and FY2028 are $97 million, $103 million and $109 million respectively. To him, Centurion&rsquo s 2HFY2026 revenue guidance of around $190 million - 22% higher y-o-y - looks &ldquo quite conservative&rdquo . Looking ahead, Ong expects the group&rsquo s new key workers accommodation (KWA) segment to provide the next engine of growth. Centurion&rsquo s owned and managed portfolio capacity is on track to grow by 6,462 beds in 2026, which implies a capacity growth of 8% from a portfolio bed count of 79,387 beds as at December 2025, Ong notes. Meanwhile, the group is exploring an opportunity to work with the City of Karratha to build a four-star hotel and short-stay accommodation to cater to the key-worker segment. DBS&rsquo s Ng Jia Hui, who has an unchanged target price of $1.86, views Centurion&rsquo s first half results &ldquo positively&rdquo due to its strong underlying operating momentum, as seen in its revenue and gross profit growth. Centurion&rsquo s guidance for revenue growth in 2HFY2026 suggests momentum should remain &ldquo healthy&rdquo , she notes. &ldquo Beyond FY2026, we remain constructive on Centurion&rsquo s medium-term growth outlook given its sizeable pipeline,&rdquo she says. &ldquo The group expects to add 6,462 beds in 2026, with a further 9,770 beds under development for completion between 2027 and 2029, providing good visibility on capacity and earnings growth.&rdquo As at 2.02pm, shares in Centurion are flat at $1.60. |
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Joelton
Supreme |
14-Aug-2026 10:05
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Centurion shares fall as much as 10% on two-third tumble in H1 profit [SINGAPORE] Shares of Centurion Corp : OU8 -7.65% fell as much as 10 per cent on Thursday (Aug 13) morning after it reported a 64 per cent drop in net profit for its first half ended Jun 30, falling to S$26.5 million from S$73.9 million in the corresponding year-ago period. At 9.16 am, the company&rsquo s shares were trading at an intra-day low of S$1.53, 10 per cent or S$0.17 lower. By 10.07 am, it was trading at S$1.56, still S$0.14 or 8.2 per cent down, after almost 1.7 million shares worth over S$2.6 million changed hands. Its net profit drop was attributed to higher net fair value losses on investment properties and a share of losses from associated companies, the group&rsquo s said on Wednesday. Revenue for the half year grew 31 per cent to S$184.9 million, up from S$140.7 million previously. However, net fair value loss on investment properties widened to S$32.8 million for H1, compared with a net fair value loss of S$3.5 million in the year-ago period. This included S$19.1 million in stamp duties paid for the acquisition of Macquarie Park by Centurion Accommodation Real Estate Investment Trust. Centurion also recorded a S$4.2 million share of losses from associated companies in H1 2026. Earnings per share for H1 stood at S$0.0315 a share, down from S$0.0879 a share a year earlier. The board declared an interim dividend of S$0.02 a share for H1 2026, unchanged from a year ago. |
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francisd
Master |
14-Aug-2026 09:45
Yells: "BUY LOW SELL HIGH" |
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This was a know fact already known earlier. Have a good weekend guys. Cheers.
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Joelton
Supreme |
14-Aug-2026 09:42
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Centurion&rsquo s growth story stays anchored in Singapore with Kranji Close win [SINGAPORE] Centurion Corporation&rsquo s growth remains centred on Singapore, where the specialised accommodation provider has been awarded a 7,000-bed dormitory site at Kranji Close. It also put in the top bid for a second site. Singapore accounted for S$129.8 million, or 70 per cent, of group revenue in the first half ended Jun 30, with local revenue up 31 per cent year on year. The gain came mainly from the consolidation of Westlite Mandai, along with 5,460 beds at Westlite Toh Guan and Westlite Mandai that became operational between December 2025 and May 2026. Group revenue rose 31 per cent to S$184.9 million. Net profit fell 64 per cent to S$26.5 million, from S$73.9 million a year earlier, Centurion said on Wednesday (Aug 12). This was weighed down by a wider fair-value loss on investment properties, as well as a share of losses from associated companies of S$4.2 million, reversing from a S$27.8 million share of profit a year earlier. Net profit from the group&rsquo s core business operations, which excludes fair-value adjustments and one-off items, rose 34 per cent year on year to S$87.7 million. The board declared an interim dividend of S$0.02 a share, unchanged from a year earlier this will be paid out on Sep 30. Average financial occupancy at Centurion&rsquo s Singapore worker dormitories eased to 94 per cent from 99 per cent 5,460 beds added at Toh Guan and Mandai between December 2025 and May 2026 have yet to be fully taken up. Committed occupancy at the two stood at 99 per cent and 87 per cent, respectively, as at Jul 31. The group expects occupancy to improve in H2. The government has released five dormitory sites with more than 40,200 beds for tender across 2026 and 2027. Centurion won the Kranji Close site on Aug 5 with the highest of 10 bids at S$343 million. The 22,079-square-metre plot, on a 30-year lease with a gross plot ratio of 3.0, allows for 7,000 beds and is expected to be operationally ready by the third quarter of 2028. The group has also put in the top bid of S$221.7 million for a 2.84-hectare site at Lok Yang Way the outcome is pending. Asked at a media briefing on Thursday whether Centurion : OU8 -5.88% sees any scope to monetise more of its Centurion Accommodation Real Estate Investment Trust ( CAReit : 8C8U -4.31%) units to recycle capital into acquisitions or developments, CEO Kong Chee Min said the group would not let its stake fall below 30 per cent. Centurion held about 38.25 per cent of the units in CAReit as at Jun 30. &ldquo We are quite happy to keep the units. We wouldn&rsquo t sell down,&rdquo said Kong. He said the stake was meant to keep the group focused on the specialised accommodation sector, rather than to serve as a source of capital. In Malaysia, Centurion operates 13 assets, with 36,006 beds in Johor, Penang and Selangor. Revenue there rose 31 per cent to S$12.5 million, although occupancy slipped to 73 per cent from 83 per cent as foreign worker quota caps weighed on demand. Chief investment officer Ho Lip Chin said the acquisition of the Harum Megah portfolio in September 2025 was part of a longer-term strategy to build scale. A Malaysian Reit remains an aspiration, he said, but on a longer runway rather than as an immediate plan. Centurion guided for revenue of about S$190 million in H2, up some 22 per cent year on year. It expects portfolio capacity to grow from 85,528 beds as at Jun 30 to about 94,944 beds by 2028. Shares of Centurion fell 5.9 per cent or S$0.10 to close at S$1.60 on Thursday. Units of CAReit ended the day 4.3 per cent or S$0.05 lower at S$1.11. |
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Joelton
Supreme |
13-Aug-2026 10:59
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Centurion H1 net profit drops 64% to S$26.5 million [SINGAPORE] Centurion Corporation : OU8 0% reported a 64 per cent drop in net profit for its first half ended Jun 30, falling to S$26.5 million from S$73.9 million in the corresponding year-ago period. This comes on the back of higher net fair value losses on investment properties and a share of losses from associated companies, the group&rsquo s regulatory filing on Wednesday (Aug 12) noted. Revenue for the half year grew 31 per cent to S$184.9 million, up from S$140.7 million previously. However, net fair value loss on investment properties widened to S$32.8 million for H1, compared with a net fair value loss of S$3.5 million in the year-ago period. This included S$19.1 million in stamp duties paid for the acquisition of Macquarie Park by Centurion Accommodation Real Estate Investment Trust (CAReit). Centurion also recorded a S$4.2 million share of losses from associated companies in H1 2026, compared with a S$27.8 million share of profit in H1 2025. This was largely due to finance costs incurred by an associated company from the prepayment of a loan following the sale of Macquarie Park to CAReit, as well as losses from the divestment of two assets held under its US Fund. The year-ago figure included S$28.4 million in profit from purpose-built worker accommodation asset Westlite Mandai, which was then an associate but became a Centurion subsidiary in September 2025. Excluding fair value adjustments, profit from core business operations attributable to equity holders fell 16 per cent to S$48.8 million from S$57.8 million in the year-ago period, due to higher non-controlling interests following the spin-off of CAReit. Top-line growth was supported by contributions from Westlite Mandai following its consolidation, new operational beds in Singapore and Malaysia, and the commencement of operations at EPIISOD Macquarie Park in Australia in January 2026. Revenue from the purpose-built worker accommodation segment in H1 grew 32 per cent year on year to S$143.1 million, from S$108.6 million a year ago. Student accommodation revenue increased 31 per cent to S$40.6 million in H1, as contributions from Australia more than doubled to S$16.5 million. Earnings per share for H1 stood at S$0.0315 a share, down from S$0.0879 a share a year earlier. The board declared an interim dividend of S$0.02 a share for H1 2026, unchanged from a year ago. The dividend will be paid on Sep 30. Centurion expects revenue for H2 to reach approximately S$190 million, reflecting a year-on-year growth rate of around 22 per cent. Centurion CEO Kong Chee Min said: &ldquo We remain focused on growing our revenue streams across multiple platforms, advancing our development pipeline, and recycling capital by developing and stabilising assets for potential injection into CARreit.&rdquo The counter ended flat at S$1.70 prior to the news on Wednesday. |
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Joelton
Supreme |
11-Aug-2026 09:28
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Maybank maintains &lsquo buy&rsquo call for Centurion Corp, Coliwoo sees positives in S&rsquo pore living sector Maybank Securities&rsquo Eric Ong remains positive on the Singapore living sector and reiterates &ldquo buy&rdquo calls on Centurion Corporation, keeping the target price at $1.69, and for Coliwoo, with the target price also unchanged at $0.74 from its July 10 Invest Asean conference wrap-up note. In an Aug 7 report, Ong sees positives in the two companies&rsquo ability to deploy cash efficiently, citing Centurion Corp&rsquo s recently awarded Kranji Close site by the Building and Construction Authority (BCA) for the redevelopment of a 7,000-bed purpose-built workers&rsquo accommodation (PBWA), as well as Coliwoo&rsquo s $134 million sale-and-leaseback of Coliwoo Midtown. This will allow both companies to &ldquo advance their capital recycling strategies down the road,&rdquo adds Ong. Centurion to expand PBWA capacity Maybank Securities expects the Kranji Close PBWA site to lift Centurion Corp&rsquo s Singapore PBWA bed capacity by about 17%, while strengthening its development pipeline and earnings visibility. Centurion was awarded the Kranji Close PBWA site after submitting the highest bid of $343 million in a tender that also drew nine other bids. The site, which spans about 237,656 sq ft, is held on a 30-year lease from November 2026, and has a gross plot ratio of 3.0. The development will comprise 7,000 beds compliant with the new dormitory standards. According to the Ministry of Manpower, Singapore' s upgraded dormitory standards mandate a maximum room occupancy of 12 residents, en-suite toilets, increased living space of at least 3.6 sqm to 4.2 sqm per person and better ventilation. New builds must fully comply starting Nov 2021, while existing facilities have until 2030 for interim standards and 2040 for full compliance. Centurion Corp says they plan to develop the PBWA with a joint-venture partner, with the group holding a 90% stake and its partner the remaining 10%. The project is expected to be completed in 2H2028 and be operationally ready in 3Q2028. Meanwhile, Centurion Corp is awaiting the outcome of the Lok Yang Way tender, after emerging as the highest bidder for the 30-year PBWA land site for about 5,000 beds. Coliwoo pivots to asset-light model Ong says Maybank Securities is positive on the sale-and-leaseback of Coliwoo Midtown, which is in line with the Group&rsquo s pivot to a more asset-light strategy and capital recycling initiatives. On Aug 6, Coliwoo announced that its 80%-owned subsidiary Coliwoo (TK) had entered into a put and call option agreement with CapitaLand Ascott Trust to sell Coliwoo Midtown for $134 million. Expected to complete by 4Q2026, Coliwoo will lease the property back for 10 years at an Ebitda yield of 4.1%, based on FY2025 pro forma figures and subject to conditions in the master lease agreement. All 212 rooms will remain in Coliwoo&rsquo s portfolio, but will move from its owned segment to the leased segment. Since opening in March 2026, Coliwoo Midtown achieved average occupancy of almost 90% as at July, according to Maybank Securities. Coliwoo expects to recognise an estimated disposal gain of about $9.2 million upon completion. The net proceeds of $41 million, after related expenses and loan repayment, will be used to fund working capital for existing projects and future expansion. |
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Joelton
Supreme |
07-Aug-2026 10:39
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Centurion Accommodation Reit eyes sponsor pipeline for acquisitions as H1 results beat IPO forecast [SINGAPORE] A pipeline of assets under development by Centurion Corp could be assessed for acquisition by Centurion Accommodation Real Estate Investment Trust (CAReit), the Reit&rsquo s manager said. One such asset is the sponsor&rsquo s newly announced Kranji Close project. On Wednesday (Aug 5), Centurion Corp secured the tender for the purpose-built dormitory site with a winning bid of S$343 million. The 30-year leasehold site spans about 22,079 square metres and has a gross plot ratio of 3.0, allowing for a development with a capacity of 7,000 beds. Ginny Ang, chief investment officer of the manager, said at a media briefing that the sponsor has a track record of developing specialised living assets, some of which could form the Reit&rsquo s acquisition pipeline across the purpose-built worker accommodation (PBWA) and purpose-built student accommodation (PBSA) segments. A pipeline of seven assets in worker and student accommodation in Singapore, the UK and Australia translates to about 9,198 beds, and is expected to be completed between 2026 and 2028. These include two upcoming projects: one in Melbourne, which will have about 644 beds and is expected to complete in the first quarter of 2027 and one in Perth, in which the sponsor holds a 25 per cent stake, comprising about 182 beds, with an expected completion date of Q2 2027. &ldquo When the sponsor intends to sell, then the Reit has the first right of refusal to consider its purchase on its merits, which the Reit will assess,&rdquo Ang said. Asked whether Kranji Close would be a natural acquisition candidate, Tony Bin, CEO of the manager, said the arrangement fits the sponsor&rsquo s capital recycling strategy, under which assets are stabilised before being sold down. H1 results beat forecast CAReit reported a stronger-than-expected first-half performance, with distribution per unit of S$0.03499 for the six months ended Jun 30, exceeding its initial public offering forecast by 9.6 per cent. Revenue rose to S$108.9 million, 5.1 per cent above the forecast, supported by stronger PBWA rental rates and bed sales, favourable currency movements, and S$1.1 million in additional revenue from expanded capacity at Westlite Toh Guan and Westlite Mandai. Net property income increased 4.3 per cent to S$78.4 million, while the amount available for distribution to unitholders came in at S$60.5 million, 9.6 per cent above the prospectus forecast. As at Jun 30, aggregate leverage stood at 29.9 per cent, while the portfolio was valued at S$2.2 billion. Operational bed capacity has grown 25.7 per cent to 30,236 beds since the IPO. Separately, Bin said CAReit was preparing for the expiry of a two-year master lease at a PBSA asset in Sydney, at the end of 2027. The 732-bed asset was acquired by CAReit in January this year. CAReit said fixed rental income would come in at A$14.1 million (US$9.9 million) for FY2026 and A$20 million for FY2027. Bin said the operator is expected to continue managing the property after the lease expires, providing &ldquo certain consistency&rdquo in how the asset is run. He added that newly opened student accommodation properties typically start with lower student retention because they lack returning residents. &ldquo We believe that the third year will be better than the first two years,&rdquo he said. |
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Joelton
Supreme |
06-Aug-2026 10:26
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Centurion awarded Kranji Close purpose-built dormitory site Centurion Corporation has been awarded the tender for a purpose-built dormitory site at Kranji Close by the Building and Construction Authority (BCA). The tender closed on June 12 and drew 10 bids, with Centurionก ฆ s bid of $343 million being the highest. The site is held on a 30-year lease from November 2026 and covers around 22,079 sq m (237,656.38 sq ft). It has a gross plot ratio of 3.0, which allows the group to build a purpose-built workersก ฆ accommodation (PBWA) with a capacity of 7,000 beds. The development will increase the groupก ฆ s Singapore PBWA bed capacity by some 17% and will comply with the governmentก ฆ s new dormitory standards. The new standards, to be implemented by 2040, means rooms have to have living space of at least 4.2 sqm per resident. Toilets should also be en-suite and there has to be at least one toilet, shower and hand-wash basin per six residents. Each room can hold up to 12 residents with a space of at least one metre between beds. In its Aug 5 statement, Centurion says it intends to develop the PBWA with a joint venture (JV) partner where Centurion will hold a 90% stake and the partner holding the remaining 10%. The proposed JV arrangement is subject to BCAก ฆ s consent and approval. It also means to develop and operate the asset till it stabilises before it offers the asset to Centurion Accommodation REIT (CAREIT) under the rights of first refusal (ROFR). The proposed development is expected to be completed in 2Q2028 and achieve operational readiness in 3Q2028. As at June 30, Centurion owns and operates 10 PBWAs in Singapore with a total capacity of 41,898 beds. This comprises six purpose-build dormitories (PBDs) with 34,642 beds and four quick build dormitories (QBDs) with 7,256 beds. ก ง Centurion remains committed to working closely with the authorities to support the continued supply of high-quality, purpose-built worker accommodation in Singapore through developing well-designed and compliant accommodation assets,ก จ says CEO Kong Chee Min. ก ง Following CAREITก ฆ s listing, we have focused on deploying capital to grow our owned and operated portfolio. Kranji Close adds meaningful scale in Singapore, our largest worker accommodation market, and strengthens our development pipeline through 2029. With several growth levers in motion across our markets and segments, Centurion is well positioned for its next phase of growth,ก จ he adds. On July 13, DBS Group Researchก ฆ s Ng Jia Hui noted that Centurion emerged as the highest bidder for the Kranji Close site, as well as another site on Lok Yang Way, which would add another 5,000 beds to the portfolio. ก ง If awarded, the two projects would add a combined 12,000 beds, representing a 30% expansion of Centurion' s Singapore PBWA portfolio from its current capacity of 39,918 beds,ก จ Ng wrote. ก ง The developments would further strengthen the group' s market-leading position in Singapore' s worker accommodation sector.ก จ ก ง While being the highest bidder does not guarantee an award and the evaluation process is expected to take one to two months, a successful outcome would be a positive catalyst for Centurion,ก จ she added. ก ง The two 30-year leases would expand Centurion' s Singapore PBWA portfolio by 30% (by bed count), providing a long runway for recurring earnings growth and enhancing earnings visibility.ก จ A July 10 report by Maybank Securities' Eric Ong also noted that the award of new tenders by JTC to develop purpose-built dormitories is a potential catalyst for Centurion. Shares in Centurion closed flat at $1.58 on Aug 4. The group will release its 1HFY2026 results after trading hours on Aug 12. |
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Joelton
Supreme |
06-Aug-2026 10:00
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CAREIT reports 1HFY2026 DPU of 3.499 cents, outperforming prospectus forecast by 9.6% Centurion Accommodation REIT (CAREIT) has reported a distribution per unit (DPU) of 3.499 cents for the 1HFY2026 ended June 30, outperforming its prospectus forecast of 3.192 cents by 9.6%. Based on CAREITก ฆ s closing unit price of $1.06 as at June 30, this represents an annualised DPU yield of 6.6%. Based on the REITก ฆ s unit price of $1.16 as at Aug 6, the annualised yield would come in around 6%. For the 1HFY2026, CAREITก ฆ s gross revenue outperformed its forecast by 5.1% at $108.9 million. The REITก ฆ s net property income (NPI) also stood above expectations by 4.3% at $78.4 million. The outperformance was due to higher rental rates and a higher number of beds sold across CAREITก ฆ s purpose-built workersก ฆ accommodation (PBWA) portfolio, the strengthening of the British pound (GBP) and Australian dollar (AUD), as well as $1.1 million of additional revenue from the expanded capacities from the Toh Guan and Mandai PBWAs. Finance costs stood 18.8% below the prospectus forecast at $12.1 million mainly due to lower loan drawdown and benchmark rates. For the period, CAREITก ฆ s distributable income came in at $60.5 million, 9.6% above the prospectus forecast. Since its IPO on Sept 25, 2025 to June 30, the REITก ฆ s portfolio increased by around 25.7% from 24,054 beds to 30,236 operational beds. PBWA bed capacity in 1HFY2026 increased by 4,360 beds, comprising 664 retained beds under the Toh Guan expanded capacity and 3,696 beds from the new block as well as the expanded capacity at Westlite Mandai. In 1HFY2026, the PBWA portfolio recorded a financial occupancy of 92.2%, lower than the prospectus forecast of 93.6%. Committed occupancy stood at around 94.3%. CAREITก ฆ s purpose-built student accommodation (PBSA) portfolio recorded a financial occupancy of 98.8% in 1HFY2026, coming in above the prospectus forecast of 96.9%. Financial occupancy was 99.1% in the UK and 98% in Australia. Based on the managerก ฆ s internal leasing records as at the end of July, pre-leasing for AY2026/2027 in the UK fell y-o-y but remained largely in line with pre-Covid levels in AY2019/2020. As at June 30, CAREITก ฆ s aggregate leverage stood at 29.9% with an interest coverage ratio of 5.91 times. In 2HFY2026, CAREIT says it expects gross revenue to exceed its prospectus forecast, thanks to favourable rental rates and a higher number of beds across its PBWA portfolio. The higher-than-expected revenue also includes $2.9 million in additional income from the expanded capacity in Toh Guan and Mandai, although this depends on the timing of tenant check-ins and the continued ramp up of new blocks and expanded capacity. ก ง Since our IPO, we have expanded the portfolio by approximately 25.7% while delivering gross revenue and NPI above the prospectus forecast in 1HFY2026, reflecting the continued execution of our growth initiatives and the resilient demand fundamentals of our living sector assets,ก จ says Tony Bin, CEO of the manager. ก ง Our inclusion in the FTSE EPRA Nareit Global Developed Index within nine months of listing represents another important milestone for CAREIT and strengthens our visibility among global real estate investors.ก จ ก ง Operational performance remained positive across PBWA and PBSA. Leasing momentum at Westlite Toh Guan and Westlite Mandai has been encouraging as the new blocks and expanded capacity continue to ramp up, while our PBSA portfolio maintained high financial occupancy,ก จ he adds. |
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ysh2006
Supreme |
24-Jul-2026 17:34
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Local brokering houses analysing stocks based on many statistical logics but sometimes thing don't go according to their logic | ||||
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ysh2006
Supreme |
24-Jul-2026 10:00
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Their Tuas dormitory JTC extension already why no action in market ? | ||||
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Joelton
Supreme |
14-Jul-2026 11:45
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Centurion put in highest bid for two new dorm sites DBS maintains $1.86 target price for now Dormitory operator Centurion Corp has reportedly put in the highest bids for two sites allocated to build new dormitories. The first site is a 2.84 ha plot at Lok Yang Way. With a gross plot ratio of 2.0, the site can be used to build 5,000 beds and Centurion put in a bid of $221.7 million. The second site, at Kranji Close, covers 2.21 ha and has a higher gross plot ratio of 3.0, which means some 7,000 beds can be built. Centurion bid $343 million. If Centurion is awarded both sites, it can potentially increase its capacity for purpose-built workers' dormitories by 12,000 beds, equivalent to an expansion of 30% from its current capacity of 39,918 beds. " The developments would further strengthen the group' s market-leading position in Singapore' s worker accommodation sector," says Ng. " While being the highest bidder does not guarantee an award and the evaluation process is expected to take 1-2 months, a successful outcome would be a positive catalyst for Centurion," she adds. Both sites will come with a relatively long lease of 30 years each. From Ng' s perspective, this can help provide a long runway for recurring earnings growth and enhancing earnings visibility. She estimates that the projects can generate yield on cost between 5.7-6.2% and deliver a 19-21% uplift in EBIT (once completed in FY28-FY29), supported by favourable demand-supply dynamics in Singapore' s worker accommodation market. " In addition, the new assets could further enhance Centurion' s pipeline of stabilised assets for potential future injection into Centurion Accommodation REIT, supporting its capital recycling strategy," says Ng, who has kept her " buy" call and $1.86 target price, which will be revisited if the tender is successful. |
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lifeisgood
Supreme |
10-Jul-2026 15:01
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Hope the share price can close the gap back up to $1.65 minimum | ||||
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Joelton
Supreme |
18-Jun-2026 12:06
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Centurion acquires 25% stake in second student accommodation in Perth for A$250,000 [SINGAPORE] Centurion Corporation : OU8 +1.34% on Wednesday (Jun 17) said it has acquired a 25 per cent equity interest in a purpose-built student accommodation (PBSA) development in Perth for A$250,000 (S$225,475). The property at 55-57 Fairway, Crawley, is set to have around 182 studios. It is also directly adjacent to the University of Western Australia&rsquo s Crawley campus, with shops and restaurants within walking distance as the Broadway Fair Shopping Centre is about 250 m away. The site is currently under development and scheduled to be completed by the second quarter of 2027. Upon completion, the property will operate under the group&rsquo s Epiisod student accommodation brand and be managed by Centurion. The remaining 75 per cent share of the property is held by Centurion Properties Australia Investments, a wholly owned subsidiary of the group&rsquo s controlling shareholder. This is Centurion&rsquo s second investment in the city, after buying a stake in a 472-bed Stirling Highway PBSA development last December. Kong Chee Min, CEO of Centurion, said the development is part of the company&rsquo s expanding student accommodation pipeline, which is expected to deliver about 2,198 new beds progressively between 2027 and 2028. Centurion noted that Australia&rsquo s PBSA sector is supported by &ldquo strong fundamentals&rdquo , with student demand continuing to outpace supply. The company&rsquo s shares ended Wednesday 1.3 per cent or S$0.002 higher at S$1.51, before the news. |
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Joelton
Supreme |
12-Jun-2026 11:23
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Bed growth drives visibility: DBS Group Research initiates coverage on Centurion Corp at &lsquo buy&rsquo A group of DBS Group Research analysts Derek Tan, Geraldine Wong and Ng Jia Hui have initiated coverage on Centurion Corporation (SGX:OU8) , citing how the growth in bed counts will help drive growth visibility at the diversified living-sector accommodation provider. As at end-March, Centurion owns and manages 40 operational assets comprising approximately 81,388 beds, with its Singapore PBWA portfolio operating under the established &ldquo Westlite&rdquo brand and its PBSA assets under the &ldquo Dwell&rdquo and &ldquo EPIISOD&rdquo brands. In addition, Centurion is also the sponsor of Centurion Accommodation REIT (CAREIT), which provides a pipeline of assets to support REIT&rsquo s growth while advancing its asset-light strategy. From the analysts&rsquo perspective, following the listing of CAREIT, Centurion&rsquo s earnings framework has evolved into a diversified platform with three income streams. They are: operating income from owned & operated assets, fee income from management services, and investment income from CAREIT units. The DBS analysts believe this will create a more capital-efficient, scalable and recurring-income business for Centurion. &ldquo Centurion has been scaling its portfolio through acquisitions and developments across its core PBWA and PBSA segments in both existing and new markets, and into new living-sector segments, strengthening its growth runway while enhancing long-term income visibility and earnings resilience,&rdquo the team states. On the other hand, being CAREIT&rsquo s sponsor, Centurion stands to earn fees ranging from REIT management, property management to project management fees, which are expected to continue to grow in line with the REIT&rsquo s expanding portfolio. Last October, Centurion secured a property management agreement (PMA) to manage an existing 548-bed dormitory on Jurong Island. This was followed by a second PMA in February to manage a 1,500-bed dormitory in the Gul Drive vicinity, to commence upon the property&rsquo s receipt of FEDA license. With Centurion holding approximately 38.1% stake in CAREIT, the analysts foresee a steady stream of distributions for Centurion, supported by the REIT&rsquo s distribution policy of paying out 100% of its annual distributable income through FY2027. Meanwhile, Centurion has marked a key strategic expansion in April with the entry into key worker accommodation (KWA) segment through the acquisition of two operational assets in Western Australia. This is a resource-rich region Down Under which accounts for roughly two-thirds of the country&rsquo s mining production and over 90% of its iron ore output. The region supports more than 13,000 jobs and attracts a diverse mix of workers across mining and extraction, construction, engineering, oil and gas operations, and energy infrastructure. &ldquo Against this backdrop, the acquisition provides Centurion with exposure to structurally resilient, long-duration demand underpinned by large-scale resource projects and fly-in, fly-out (FIFO) workforce rotation cycles, which sustain recurring accommodation demand through continuous inbound and outbound labour flows,&rdquo the team predicts. As such, the DBS team is initiating a &ldquo buy&rdquo call and a target price of $1.86 on Centurion. Their valuation is based on a sum-of-the-parts (SOTP) approach. &ldquo We value Centurion&rsquo s stake in CAREIT based on our target price of $1.30 and applying a 12 times EV/EBITDA multiple to the management services platform, reflecting its recurring, asset-light earnings. Owned and operated assets, excluding CAREIT assets, are valued at their fair values, while Australia KWA assets are valued at a 10 times EV/EBITDA on projected earnings,&rdquo the team explains. According to the analysts, this will yield a SOTP valuation of $2.07, translating to a target price of $1.86 after applying a 10% holding company discount. As at 9.35am, shares of Centurion are trading 1 cent higher, or 0.71% up at $1.42. |
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Alignment
Elite |
29-May-2026 11:16
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London is not really relevant for a discussion on this company. Between Centurion and its REIT they only have one asset (under development) in London, which is the only functioning part of the Uk economy. The rest of their assets in UK are elsewhere in poorer areas economically and also lower quality universities which is where the fall in demand will be felt hardest. | ||||
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JAMMIE
Senior |
29-May-2026 10:33
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Its a bloody nightmare finding student accomodation for the children. And not just London, its same across EU , AUS, Canada, Singapore etc. But what also happens is that a lot of the cost for " local" students gets subsidized or is kept controlled. Its the international students who find it hard and more expensive student housing, and all that increased prices do not immediately add to the bottom line of the provider becuase majority of the housing is still earmarked for local students.
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