Centurion Corporation Limited (“Centurion” or the “Group”), is one of Singapore’s largest owner-operator of quality workers accommodation assets in Singapore and Malaysia. In addition, the Group also owns and operates student accommodation assets in Singapore, Australia and the United Kingdom (“UK”).
Established in 1981 as an audio cassette tape manufacturing business in Singapore, it became one of the market leaders in the optical storage media industry and was listed on the mainboard of the Singapore Exchange in 1995. Following a reverse acquisition exercise in 2011, the Group successfully diversified into the accommodation business to capture growth opportunities in this niche market.
Starting with a single accommodation asset of c.5,300 worker beds in 2011, Centurion has over the last five years developed a strong portfolio of 22 operational workers and student accommodation assets totalling c.63,200 beds as at 31 December 2016. With a pipeline of two development projects in Penang, Malaysia – a c.6,600-bed accommodation under development and a c.6,100-bed accommodation pending completion of land acquisition and final planning approval, Centurion’s portfolio is expected to grow to c.75,900 beds by FY2018, if they are completed as scheduled.
In the workers accommodation space, Centurion has c.34,700 beds across five workers accommodation assets in Singapore and c.25,300 beds across seven workers accommodation assets in Johor, Malaysia as at 31 December 2016, which are managed under the Group’s Westlite brand.
In 2014, the Group diversified into student accommodation with the acquisition of RMIT Village in Melbourne, Australia, and has since added eight more assets in four major UK cities and one asset in Singapore. As at 31 December 2016, it has a total portfolio of c.3,200 student accommodation beds. In February 2017, the Group launched its new brand – dwell – for its student accommodation assets in Singapore and the UK to enhance its management capability and further grow this business segment.
With a clear growth strategy to actively enhance and manage its assets, identify strategic acquisitions and joint ventures, as well as develop customised accommodation management services, Centurion is well positioned to become one of the region’s leading providers of quality accommodation.