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Centurion is capitalized at S$1.4bln and trades at 13.4x forward P/E and 1.2x P/B with an annualized dividend yield of 2.4%. While 1H25 revenue/core profits saw a 13%/19% increase yoy, weakness in the share price post-result may be due to a 38% drop in headline profits due to a decrease in fair value gains on investment properties compared to the previous year. We continue to have an &ldquo Accumulate on Weakness&rdquo recommendation as we await the upcoming spin-off of Centurion&rsquo s assets via a REIT listing on the SGX-ST likely in the next couple of months.
Centurion is capitalized at S$1.4bln and trades at 13.4x forward P/E and 1.2x P/B with an annualized dividend yield of 2.4%. While 1H25 revenue/core profits saw a 13%/19% increase yoy, weakness in the share price post-result may be due to a 38% drop in headline profits due to a decrease in fair value gains on investment properties compared to the previous year. We continue to have an &ldquo Accumulate on Weakness&rdquo recommendation as we await the upcoming spin-off of Centurion&rsquo s assets via a REIT listing on the SGX-ST likely in the next couple of months.
Aiya many times once son cut off from mother ,(eg free giving ) mother share price might go down ....For many years won' t perform like YZJ
damianlee ( Date: 11-Aug-2025 09:28) Posted:
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Good news that the ipo will be in September,
Any idea how the shares of the newly created IPO will be distributed to centurion shareholoders?
Any idea how the shares of the newly created IPO will be distributed to centurion shareholoders?
IPO for Centurion&rsquo s new Reit at &lsquo very advanced&rsquo stage, launch likely in September
With the trust, the group aims to expand its accommodation portfolio and assets under management
[SINGAPORE] If all goes well, Centurion Corp may launch the initial public offering (IPO) of its new real estate investment trust (Reit) as soon as September, said chief executive officer Kong Chee Min.
At the group&rsquo s results briefing on Friday (Aug 8), Kong said the upcoming IPO was at a &ldquo very advanced stage&rdquo , though the group has yet to receive its eligibility-to-list letter from the Singapore Exchange.
He added that Centurion was &ldquo quite committed&rdquo to the trust, named Centurion Accommodation Reit, and will have &ldquo quite a high stake&rdquo in it. The group had previously said in the Reit&rsquo s announcement last month that it will hold around a 45 per cent stake in the trust initially, before lowering its interest to 35 to 40 per cent.
That is not to say Centurion will be divesting more assets instead, the aim is to expand its portfolio and assets under management, noted Kong.
This means Centurion, as the sponsor, will continue developing assets and wait for them to stabilise before injecting them into the Reit, he said. The trust will also independently seek to acquire completed assets from other owners looking to monetise.
For now, the Reit will comprise 14 properties: five purpose-built worker accommodation (PBWA) assets in Singapore, eight purpose-built student accommodation assets in Britain and one in Australia.
Kong said Centurion&rsquo s Malaysia assets will not be included in the Reit, given the emerging market risk, but that the listco will continue expanding its portfolio in the country.
&ldquo I would say that the performance (in Malaysia) is not too bad, except for the currency,&rdquo he explained. &ldquo We are pretty confident that this is only short-term headwinds.&rdquo
In terms of asset class, Kong said the Reit will lean heavily towards PBWA assets.
With land being scarce in Singapore and growth dependent on government tenders, Centurion is actively working with the authorities to identify suitable land for such assets, said the CEO.
&ldquo I think there are four remaining sites (up for tender)... and we will take the opportunity to tender (for them) when they become available,&rdquo he added.
Opportunities abound
At the results briefing, Centurion communications head David Phey highlighted strong demand for PBWA assets in multiple countries. This includes existing markets, such as Singapore and Malaysia, as well as other potential markets in the Middle East, including the United Arab Emirates and Saudi Arabia.
Demand in these markets has also outpaced the supply of purpose-built, professionally managed, good-quality workers&rsquo dormitories, said Phey.
On the student housing front, Phey noted that investment appetite for such assets remains strong, especially in the UK. Annual investment in the UK alone rose by 14 per cent to almost £ 4 billion (S$6.9 billion) in 2024, on the back of &ldquo very positive underlying fundamentals&rdquo with a shortage of beds across cities.
This brought Centurion&rsquo s revenue for the first half of FY2025 to S$140.7 million, up 13 per cent from S$124.4 million in the corresponding year-ago period.
Net profit, on the other hand, fell 38 per cent to S$73.9 million, weighed down by net fair value loss on investment properties &ndash at S$3.5 million &ndash from a net fair value gain of S$61.6 million in the year-ago period.
Distribution, administrative and finance expenses also shot up by 39 per cent, 22 per cent and 8 per cent, respectively.
Earnings per share consequently dropped to S$0.0879. Meanwhile, net asset value per share was S$1.44 as at end-June.
Net gearing ratio fell to 27 per cent, which will give the group ample &ldquo firepower&rdquo to support future developments and acquisitions, said Kong.
Phey said the group will continue looking for development opportunities in existing markets, as well as new markets such as the Middle East.
&ldquo At the same time, we&rsquo ll look for capital recycling and reallocation to drive growth, and very much focus on pushing for asset-light models,&rdquo he said.
&ldquo We expect more moderate rental reversions &ndash flatter, but still growing &ndash and we will continue to practise financial prudence in managing against possible economic uncertainties, such as trade-war impacts.&rdquo
Thanks Bro cfdking.
You could be right..syndicate at work and aided by the shortists.
If you like the business of Centurion and if the price is right, can nimble a bit.
Good luck.
You could be right..syndicate at work and aided by the shortists.
If you like the business of Centurion and if the price is right, can nimble a bit.
Good luck.
cfdking ( Date: 08-Aug-2025 15:36) Posted:
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its not shortist at work it is sydicate unloading slowly by pumping n dumping ..buy at yr own risk ..
stlimst ( Date: 08-Aug-2025 15:22) Posted:
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Profit or loss of a company now depends on the " ART of Valuation" after considering those unobservable factors - foretelling into the future the cash flows over an indifinite period of time, discount rates etc. in ths Donald era one cannot even forecast about tomorrow.
stlimst ( Date: 08-Aug-2025 15:22) Posted:
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Centurion posted a net fair value loss is only S$3.5 million on investment properties. The big drop is because of comparing against a net fair value gain of S$61.6 million for the year-ago period in 2024.
I would focus on the profits from operations and the excellent cash flow statement.
Anyway, let the shortlists do their work. If you can, good time to invest.
I would focus on the profits from operations and the excellent cash flow statement.
Anyway, let the shortlists do their work. If you can, good time to invest.
LoudShout ( Date: 08-Aug-2025 13:49) Posted:
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net fair value losses on its investment properties means that they bought high as compare to current market value. It is a loss and is substantial.
Centurion H1 net profit falls 38% to S$73.9 million on net fair value loss
Revenue up 13% year on year at S$140.7 million
[SINGAPORE] Centurion Corporation, a provider of purpose-built dormitories for workers and students, saw its net profit for the first half-year ended Jun 30 drop 38 per cent from S$118.2 million to S$73.9 million, weighed down by net fair value loss on investment properties.
Centurion posted a net fair value loss of S$3.5 million on investment properties against a net fair value gain of S$61.6 million for the year-ago period, financial statements on Thursday (Aug 7) showed.
Revenue at S$140.7 million was 13 per cent higher year on year, driven by higher rents across all markets and &ldquo healthy&rdquo financial occupancies in both Singapore and the United Kingdom.
Revenue from the worker segment rose 15 per cent to S$108.6 million while that from the student segment was 4 per cent higher at S$30.9 million.
However, distribution, administrative and finance expenses shot up by 39 per cent, 22 per cent and 8 per cent respectively.
Countering the increase in expenses was an 11 per cent improvement in share of profit of associated companies.
Centurion&rsquo s earnings per share slid from S$0.1406 to S$0.0879. Net asset value per share was S$1.44 as at end June, marginally higher than S$1.37 as at end-December 2024.
Centurion added 362 beds to its portfolio in the half year, bringing the total to 70,291 beds.
The board has declared an interim dividend of S$0.02 per share to be paid on Sep 25, higher than that of S$0.015 for the corresponding period of FY2024.
When market sentiment is bad shortists all out to kill
stlimst ( Date: 08-Aug-2025 10:00) Posted:
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The market is full of shortists capitalising on the news of the fair value drop.
That' s how thing works here in SGX.
Good luck.
That' s how thing works here in SGX.
Good luck.
maxsim ( Date: 08-Aug-2025 00:51) Posted:
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Let' s see how the market digest the news tomorrow. Overall is good but some news kept focusing on the 35% drop of the net fair value.
A solid company with good fundamentals
stlimst ( Date: 07-Aug-2025 23:03) Posted:
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Wow some of us here really need a little more understanding of financial report and financial analysis.
Centurion results for 1H 2025 is GOOD!
CENTURION REPORTS 22% GROWTH IN NET PROFIT FROM CORE BUSINESS OPERATIONS TO S$65.4 MILLION IN 1H 2025
&bull The Group recorded a positive financial performance for 1H 2025 with revenue up 13% yearon-year to S$140.7 million, driven by positive rental revisions across all markets and healthy financial occupancies in both Singapore and the UK.
&bull Centurion&rsquo s latest PBWA asset, Westlite Ubi, achieved rapid ramp-up, reaching full financial occupancy by April 2025 and driving a 17% year-on-year increase in Singapore PBWA revenue.
&bull Net profit after tax for 1H 2025 reduced by S$44.7 million or 35% mainly due to a S$63.3 million reduction in net fair value gain on investment properties including those of associated companies.
&bull Excluding fair value adjustments, Group core business operational profits in 1H 2025 improved 22% as compared to 1H 2024.
The Board has declared an interim dividend of 2.0 Singapore cents per share for 1H 2025. compared to 1.5 cents last year, an increased of 0.5 cent or 33.3% over that period.
Go ahead and short.
Centurion results for 1H 2025 is GOOD!
CENTURION REPORTS 22% GROWTH IN NET PROFIT FROM CORE BUSINESS OPERATIONS TO S$65.4 MILLION IN 1H 2025
&bull The Group recorded a positive financial performance for 1H 2025 with revenue up 13% yearon-year to S$140.7 million, driven by positive rental revisions across all markets and healthy financial occupancies in both Singapore and the UK.
&bull Centurion&rsquo s latest PBWA asset, Westlite Ubi, achieved rapid ramp-up, reaching full financial occupancy by April 2025 and driving a 17% year-on-year increase in Singapore PBWA revenue.
&bull Net profit after tax for 1H 2025 reduced by S$44.7 million or 35% mainly due to a S$63.3 million reduction in net fair value gain on investment properties including those of associated companies.
&bull Excluding fair value adjustments, Group core business operational profits in 1H 2025 improved 22% as compared to 1H 2024.
The Board has declared an interim dividend of 2.0 Singapore cents per share for 1H 2025. compared to 1.5 cents last year, an increased of 0.5 cent or 33.3% over that period.
Go ahead and short.
easywin ( Date: 07-Aug-2025 22:05) Posted:
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short for easy money
shk363 ( Date: 07-Aug-2025 21:49) Posted:
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35% drop in profit. gone case
beng1102 ( Date: 07-Aug-2025 21:44) Posted:
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Latest financial report is just out. Good news or bad news? Looks confusing!
ysh2006 ( Date: 07-Aug-2025 13:34) Posted:
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Some said they may spin off to Reit so far no news yet....Australia Govt want to relax the students intake also good for this stock too!!
ysh2006 ( Date: 07-Aug-2025 08:27) Posted:
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If Centurian can into Forbes Asia list so as Wee Hur too ? but Centurian is the leader