The overall sector winner is Centurion Corporation, which specialises in a growing niche area of real estate: owning and managing students’ and workers’ accommodations. Besides Singapore, where it is one of the largest operators of workers’ dormitories, Centurion has in its portfolio students’ accommodations in popular markets such as Australia, UK and the US. Most recently, the company said it has won a contract by the Selangor government to manage a workers’ dormitory which can take around 5,000 beds. With the contract, Centurion has expanded its footprint in Malaysia beyond just Johor and Penang previously. In total, the company has some 70,000 beds across its portfolio of accommodation assets.
Alset International, which was formerly known as Singapore eDevelopment, has been recognised for giving the best returns to shareholders within this sector. Led by seasoned entrepreneur Chan Heng Fai, the company has been active in the real estate markets of Australia and the US. In addition, it has interests in a multitude of different areas. These include alternative forms of medical drugs, health F&B and e-commerce, smart homes products and services and most recently, document security.
Sinarmas Land, part of the Widjaja family’s business empire, generated the best profit after tax growth within this evaluation period. Besides Indonesia, the company has developments and investments in Malaysia, China, Australia and the UK, with activities across various real estate sub-sectors ranging from township development, residential, commercial, industrial and hospitality-related properties. It owns and controls three listed developers and a REIT. Between FY2016 ended Dec 31, 2016, and FY2019, the company’s earnings fluctuated between $114.9 million and $387.5 million, which worked out to a CAGR of 50%, making Sinarmas Land the Centurion Club winner for this metric in its industry category.
Last but not least, Oxley Holdings ranked top among is sector peers for weighted return on equity. From its initial years as a developer of shoebox apartments, the company quickly gained fame for its quick pace of turning around projects. Having built a significant size in Singapore, the company started venturing into overseas markets ranging from Malaysia, Cambodia and even the UK. Along the way, Oxley has shifted its focus to build a stronger stream of recurring income.
