William Tng, an analyst from CGS-CIMB, reiterated the Buy rating on Centurion Corporation Limited. The associated price target remains the same with S$2.05.
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William Tng has given his Buy rating due to a combination of factors that highlight Centurion Corporation Limited’s strong financial performance and strategic growth plans. The company’s core profit after tax and minority interest (PATMI) for the first half of 2025 exceeded expectations, driven by robust rental income from its purpose-built worker and student accommodations. This growth was supported by high occupancy rates, particularly in Singapore, and effective cost management, including a lower effective tax rate.
Additionally, Centurion’s strategic initiatives, such as the planned listing of Centurion Accommodation REIT (CAREIT), are expected to provide further capital for expansion. The company is focused on increasing its assets under management (AUM) with new projects in Australia and other key markets, which are anticipated to be yield-accretive. These factors, combined with favorable industry conditions and regulatory support for migrant housing, underpin Tng’s positive outlook and the reiteration of a target price of S$2.05.