“We believe Centurion is an unappreciated beneficiary of various macro trends, such as strong demand recovery post-border reopening, undersupply of beds across operating geographies, PBWA regulatory reforms spurred by pandemic handling experience, and [a] growing awareness for migrant workers’ welfare,” writes Ong.
CGS-CIMB Research analyst Ong Khang Chuan has recommended an “add” call for Centurion Corporation (SGX:OU8
) at a target price of 58 cents, while expecting dividends to return to pre-Covid levels.
Centurion Corp is a leader in purpose-built worker accommodation (PBWA) and purpose-built student accommodation (PBSA), with 66,572 beds over 36 properties in six countries as of 1QFY2023 ended March. The analyst notes in his July 14 report that multiple factors contribute to Centurion's positive outlook.
