Ong and Seet write in their Mar 28 report: “In 2Q2025, about 9,000 dormitory beds will be taken out of local supply as the lease to operate one of the larger dorms by its competitor will not be renewed.”
Maybank Securities analysts Eric Ong and Jarick Seet have initiated coverage on worker and student dormitory operator Centurion Corporation (SGX:OU8
) at a target price (TP) of $1.45.
They note that despite the share price’s outperformance, the current valuation of the stock’s around 10 times forward price-to-earnings ratio (P/E) is “not too excessive”, thanks to recurring earnings visibility from robust construction-driven demand in Singapore and a clear pipeline of capacity expansion.
