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they can zap down to 36 and then zap up...buy for value not so much on trading...
anthonykwong ( Date: 15-Feb-2017 11:41) Posted:
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The bbs inside " too complicated ".....
Beware
Beware
Time to fly soon...
at 37 cents, this is a good stock to invest in for short and long term....low risk with stable income...
Centurion is in a very niche markets and should maximise its experience and contacts etc to go into other related or non-related businesses in Asean and overseas further.....
waters ( Date: 25-Nov-2016 16:25) Posted:
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Centurion is going to get extra profit from sale of Pulai Mining to CNMC ?
Eagle88 ( Date: 10-Feb-2017 13:05) Posted:
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Lots of buyers and not many want to sell....good news coming?
I just got vested in Centurion. The nature of the business i stable and cash generating.
Initially, I am concerned about the dormitory that will expired in next 1-2 yrs. However, on a further look. I think the specific dormitory would have been depreciated over the lease period which totals 9 yrs (3+3+3). Thus, the net book value would in general not be a big amount with 1-2 yrs worth left. Also, I don' t think with the dormitory lease being expired, the workers will be left without shelter. Centurion have the new papan dormitory which have alot of capacity to shelter them.
not touching this as the bbs inside "too smart" for me
3 reasons why you should buy Centurion Corp
By:
Gwyneth Yeo
SINGAPORE (Nov 24): PhillipCapital has started coverage for Centurion Corporation with a &ldquo buy&rdquo recommendation and a target price of 42 cents.
PhillipCapital&rsquo s analyst Jeremy Teong noted that the group is the second largest purpose built workers&rsquo accommodation operator in Singapore, and the only purpose built workers&rsquo accommodation operator in Malaysia. It also provides purpose built students accommodation in Singapore, United Kingdom and Australia.
So why should investors buy Centurion?
1. Resillent demand
Centurion&rsquo s workers&rsquo and students&rsquo accommodation caters to a &ldquo rudimentary need&rdquo which translates into a stable demand and a defensive business model.
Given that the group is the only listed pure play professional student and workers&rsquo accommodation in Singapore, Teong argues that policy changes and supply and demand dynamics in Singapore are favourable for its workers&rsquo dormitories.
For instance, the regulatory requirement to improve the quality of workers&rsquo dormitories is a positive push towards professionally managed dormitories like Centurion&rsquo s and reduces price competition. At the same time, the population for foreign work permit holders has continued to rise from 2014 to 2016, while temporary purpose-built accommodation is expected to face expiration with no new supply in 2017.
The growing demand from students for its student accommodation in United Kingdom and Australia ensures a healthy revenue stream, and in Malaysia, the group stands to benefit from the increased supply of skilled labour as the only provider of purpose built worker dormitories.
2. Strong cash flow
Investors had concerns about the expiration of the land lease for Centurion&rsquo s dormitory Westlite Tuas in April 2017, but Teong was less concerned. He pointed out that the group&rsquo s total debt to EBITDA less dividend was below 12, excluding the contributions from Westlite Tuas.
&ldquo That means the annual operating cash flow after dividends is able to accrue to the value of the total debt in less than 12 years,&rdquo explained Teong, adding that the remaining lease for the group&rsquo s two other dormitories ASPRI-Westlite Papan and Westlite Woodlands were 22 years and 27 years respectively.
&ldquo This means cashflow after dividends are able to service total debt before the land lease on ASPRI-Westlite Papan and Westlite Woodlands expires,&rdquo said Teong, assuming a payout ratio of 40% and a dividend yield of between 4.8% and 6%.
He also added that the properties in United Kingdom, Australia and Malaysia were mostly freehold or had a long leasehold period, which would support a long runway to service debt.
3. The Board is invested
Centurion&rsquo s top seven shareholders are on the Board of Directors and are within the senior management of the group, with the exception of Lian Beng Group. Collectively, they own 73.6% of the group.
&ldquo We believe that the substantial stakes owned by members of the Board of Directors and Executive Directors in the Senior Management team will help align corporate decisions to shareholders&rsquo interests,&rdquo said Teong.
Shares in Centurion are closed at 32 cents on Thursday.
http://smr.theedgemarkets.com/article/3-reasons-why-you-should-buy-centurion-corp?utm_source=Singapore+Market+Report& utm_campaign=87fbe22156-SMR25112016& utm_medium=email& utm_term=0_46b7beec93-87fbe22156-90565217
Think at current price level of 34cts to 35cts, estimated P/E at 8.7x, P/B at 0.66x with Div yield around 4.28% (assuming dividend per share of 1.5cts). Looks reasonable valuation to get vested.
WILL CENTURION FIND A HOME IN YOUR PORTFOLIO?
By:
Michelle Zhu
SINGAPORE (Oct 14): UOB Kay Hian is highlighting business group Centurion Corporation as a &ldquo solid proxy for foreign workers&rsquo and students&rsquo accommodation&rdquo , given its continued outperformance of peers, visible pipeline growth and resilient 2Q16 financials.
Centurion is the only listed company for purpose-built accommodation in Singapore, with a portfolio of 22 operational accommodation assets totalling over 64,408 beds in Singapore, Malaysia, Australia and the UK.
The group is also engaged in the optical disc business to manufacture and distribute optical store media to customers in Singapore and Malaysia.
(See also: Centurion sees 10% fall in 2Q earnings to $8.9 mil)
In a Friday note, analyst Andrew Chow highlights the company&rsquo s better-than-peers&rsquo occupancy rate at 95% in Singapore &ldquo despite the challenging conditions&rdquo with its student accommodation segment proving to be resilient with high occupancies and positive rental revisions.
The group in May achieved its temporary occupation permit (TOP) for its Association of Process Industry (ASPRI)-Westlite Papan dormitory, shortly after opening its Westlite Senai II dormitory in January this year.
Additionally, he thinks selected government policies could see a further shift in foreign workers towards purpose-built workers&rsquo accommodation, such as the Ministry of Manpower&rsquo s (MOM) manufacturing sector-specific rule that non-Malaysians are only allowed to rent individual rooms instead of entire HDB flats in 2017.
&ldquo Looking ahead, we understand that the group has a pipeline of 11,100 beds (or 17% of its existing assets) until 2018. Management has been steadily growing assets,&rdquo observes Chow.
&ldquo As an indication, the group will see its assets grow from 5,300 beds in 2011 to an estimated 64,408 beds by end-16.&rdquo
Despite fears of an oversupply, the analyst believes the potential expiry of an estimated 22,800 beds in 2016, 37,000 beds in 2017 and 13,000 beds in 2018 could see demand and supply &ldquo reaching equilibrium&rdquo in Singapore, based on total supply being estimated at 272,000 beds as at end-16.
Shares of Centurion closed at 34 cents.
http://smr.theedgemarkets.com/article/will-centurion-find-home-your-portfolio?utm_source=Singapore+Market+Report& utm_campaign=5168ced2e9-SMR17102016& utm_medium=email& utm_term=0_46b7beec93-5168ced2e9-90701389
Centurion Corp - Stable Occupancy Rate (HOLD, TP SGD0.36, CENT SP)
3Q16 earnings in line and grew 6% YoY, 9M16 met 72% of our FY16E. Occupancy rate across the dormitories in Singapore were stable at around 95%, while new ASPRI-Westlite Papan has reached 40%. Bed rates also remain stable. Malaysia recorded improvement as the government relaxed hiring of foreign workers. Also, student dormitories in UK and Australia remain robust. Due to unsuccessful appeal over bed capacity in Westlite Toh Guan, we cut FY17-18E EPS and DCF-TP by 3% to SGD0.36. Maintain HOLD.
John Cheong, CFA
[email protected] (65) 6231 5845
https://factsetpdf.maybank-ke.com/PDF/39243_CN__103e28b394d14e8e8bb5080ce482f7fe.pdf
UOB Kay Hian Analyst Report:-
https://research.uobkayhian.com/content_download.jsp?id=36550& h=a673b3cb54c0924a8ba7b141f432f7f3
Centurion Corporation (CENT SP)
Solid Proxy For Foreign Workers&rsquo And Students&rsquo Accommodation
CENT&rsquo s recent developments include the TOP of ASPRI-Westlite. The group has also been enjoying a better-than-peers&rsquo occupancy rate of about 95% in Singapore despite the challenging conditions. The group also owns student accommodation assets in the UK, Australia and Singapore.
OUTLOOK/RECOMMENDATION
- The only listed company for workers&rsquo accommodation and student dormitories in Singapore. The group enjoys resilient and stable revenue from its purpose-built workers&rsquo and student accommodation business. Centurion has a solid portfolio of 22 operational accommodation assets totaling over 64,408 beds in Singapore, Malaysia, Australia and the UK. Of its total accommodation assets, 96% are for workers and the remaining 4% are for students.
- Edging towards market equilibrium in Singapore. Despite fears of an oversupply, the potential expiry of an estimate 22,800 beds in 2016, 37,000 beds in 2017 and 13,000 beds in 2018 could see demand/supply reaching equilibrium in Singapore (total supply estimated at 272,000 beds as at end-16). In addition, selected government policies could see a further shift in foreign workers towards purpose-built workers&rsquo accommodation. One example is that from 1 Jan 17, non-Malaysians from the manufacturing sector will not be allowed to rent an entire HDB flat. Rental rates for workers&rsquo accommodation have also stabilised and we estimate rentals at S$280-300/month.
- Steady demand and outperforming peers. Centurion continues to enjoy healthy overall occupancy rates (about 95% in Singapore excluding ASPRI-Westlite and 61% in Malaysia) and continues to outperform peers. In addition, its student accommodation segment has proven to be resilient with high occupancies and positive rental revisions.
- Visible pipeline growth. The group is expanding through organic and new acquisitions. In 2016, its Senai II opened in January and its ASPRI-Westlite Papan achieved TOP in May. Completing its organic growth was the acquisition of four new UK student accommodation assets in July. Looking ahead, we understand that the group has a pipeline of 11,100 beds (or 17% of its existing assets) until 2018. Management has been steadily growing assets. As an indication, the group will see its assets grow from 5,300 beds in 2011 to an estimated 64,408 beds by end-16.
- Resilient financials. As at 2Q16, its net gearing was 54% (the group defines this as net borrowings divided by total capital). Interest cover was strong at 3.4x and its average long-term debt-to-maturity was a manageable 11 years. Based on consensus forecasts, the stock is trading at 6.8x 2017F PE and 2017F dividend yield of 3.9%
I wonder why this company shares tanked. 3Q 2016 results out, everything seems stable
Growth in revenue, undervalued at the moment
http://www.theedgemarkets.com/sg/article/centurion-corp%E2%80%99s-4q-earnings-down-90-75-million
Centurion Corp&rsquo s 4Q earnings down 90% to $7.5 million
By Trinity Chua / theedgemarkets.com | February 23, 2016 : 8:20 AM MYT
Translated by Google Translator:
Translated by Google Translator:
SINGAPORE (Feb 23): Centurion Corp&rsquo s 4Q earnings fell sharply by 90% to $7.5 million on lower gains.
The group recorded a fair valuation gain of $40.3 million in 4QFY2014, compared to only $3.6 million this quarter.
The worker dormitory operator&rsquo s 4Q revenue increased 8% to $28.3 million, largely backed by its accommodation business, which grew 13% to $27.3 million in the quarter.
This came on the back of Westlite Woodlands workers accommodation obtaining temporary occupation permit in July last year, as well as higher rental rate and occupancy in its other accommodation assets.
Its optical disc business&rsquo revenue fell by $1 million due to reduced market demand for physical optical disc storage media.
Looking ahead, the group expects overall occupancy rates for its assets to stay healthy, while it looks for opportunities to expand in existing and new markets.
The group recommended a final dividend of one cent. It earlier declared an interim dividend of 0.5 cent a share.
Centurion ended unchanged at 36 cents on Monday.
CENTURION CORP&rsquo S CORE BUSINESS OPERATIONS POST 14% GROWTH IN NET PROFIT TO S$35.6 MILLION Achieves 24% growth in revenue to reach S$104.5 million in FY2015 The Group&rsquo s diversified workers and student accommodation assets continue to generate strong operating cash flow of S$60.4 million, a 27% increase from FY2014 Declares final dividend of 1.0 cent per ordinary share, resulting in a total dividend of 1.5 cents per ordinary share for FY2015.
All pennies on SGX competing to be lowest in mkt. Terrible state of affairs. It' s wonder the management bums don' t seem to have a clue how to deal with it.
blurtrader ( Date: 31-Dec-2015 12:48) Posted:
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undervalued at the moment, growing and increasing re-curring revenue
can vest a bit
target 45 and above