Since the start of the year, Centurion shares have gained 83.33% to $1.76 as at Sept 10. They are up 340% since the beginning of 2024, when it was stuck at around 40 cents. In contrast, the Straits Times Index, which is trading at a record high, is up 14.4% year to date.
Centurion Corporation’s shareholders have voted overwhelmingly to spin off a REIT that will hold some of its operational worker and student dorms. At an EGM on Sept 10, nearly 100% of the 420.7 million votes cast approved the listing, with just 7,200 shares against.
Centurion Accommodation REIT, as this spin-off will be called, will list five worker dormitories in Singapore, eight student dormitories in the UK, and one in Australia, with another to be added upon its completion by the first semester in February 2026.
