Purpose-Built Student Accommodation (PBSA)

The property was completed in August 2020 with 44 studios and 181 en-suite beds over six floors.

The accretive acquisition will increase the pro forma FY2020 distribution per stapled security (DPS) by some 4.4%.

The fund has an initial aggregate committed capital of £60 million ($108 million) upon its first closing.

“3Q2FY20 continues to show impact from COVID-19 on Centurion’s portfolio,” says CEO Kong Chee Min.

Far East Orchard aims to continue growing recurring hospitality revenue through operating contracts and strategic partnerships.

UOB Kay Hian initiates a buy call on Centurion Corp, at a target price of 44 cents. This gives it a 30.7% upside.

Centurion is better levered or geared despite the current bleak economic outlook, says PhillipCapital.

DBS Research Group is maintaining its ‘hold’ call on dormitory operator Centurion Corp, at a revised target price of 39 cents. 

As at June 30, cash and cash equivalents stood at $63.8 million, up from the $50.3 million it was at in the corresponding year before. No final dividend has been declared for 1H2020, compared to the 1.0 cents disbursed previously, as the group looks to

SPH’s FY20F profit guidance indicates a significant fall in operating profit, below the $187 million it logged in FY19.