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Centurion: CEO and chairmen lift stakes following results
On Feb 27, Centurion CEO Kong Chee Min acquired 50,000 shares at S$1.55 apiece. This increased his direct interest from 0.056 per cent to 0.062 per cent. He has served as CEO since August 2011 and oversees group operations, strategy execution and the board&rsquo s long-term growth agenda.
Executive director and joint chairman David Loh and non-executive director and joint chairman Han Seng Juan also increased their interests.
Between Feb 27 and Mar 3, Loh acquired 1.5 million shares at S$1.53 each. This increased his total interest from 59.82 per cent to 60 per cent. Han acquired 600,000 shares at an average price of S$1.44 apiece, raising his total interest from 55.83 per cent to 55.9 per cent.
On Feb 26, Centurion reported that its FY25 net profit from core business operations increased 26 per cent to S$139.2 million. This was underpinned by a 17 per cent year-on-year increase in revenue to S$295.9 million, driven by healthy rental reversions and robust occupancies across Singapore and the UK.
Reported net profit attributable to equity holders declined 67 per cent to S$114.8 million, largely reflecting lower fair-value gains on investment properties and one-off costs related to the Centurion Accommodation Reit (CAReit) initial public offering, rather than operational weakness.
The group maintains a healthy development pipeline with new bed capacities coming onstream over 2026 to 2028.
Shareholders are set to receive a final dividend of S$0.02 per share, alongside a special distribution in specie of one CAReit unit for every 10 Centurion shares, reinforcing the group&rsquo s commitment to shareholder returns.
Raffles Medical: Chairman ups interest as earnings momentum builds
On Mar 4, Raffles Medical Group executive chairman Dr Loo Choon Yong acquired 1.8 million shares at an average price of S$1.01 per share. This increased his total interest from 56.17 per cent to 56.27 per cent.
The week prior, Raffles Medical Group reported a 13.4 per cent growth in FY25 profit after tax and minority interests (Patmi) to S$70.6 million, supported by resilient hospital services performance and improved insurance profitability. Meanwhile, revenue rose 1.8 per cent to S$765.3 million.
The group highlighted that its second-half momentum was strong, with Patmi for the period up 21.7 per cent, diluted earnings per share increasing 14.1 per cent to S$0.0381, and operating cash flow reaching S$101.3 million, underpinning a healthy cash position of S$310.8 million.
Reflecting the earnings strength, the board proposed a final dividend of S$0.03 per share, representing an 84 per cent payout ratio of sustainable group Patmi.
One thing that is reassuring is that Mr Han is actively buying up CCL shares.
Good sign.
Good sign.
The announcement of payment date will be made at the company' s AGM sometime in Apr/May.
This was stated in the result reporting.
This was stated in the result reporting.
stargazer88 ( Date: 03-Mar-2026 14:12) Posted:
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it will go up once the company announces Cum dates for the dividends in cash and in specie. Last year it announced with the results but don' t know why this year it is delayed.
One of the most ' frustrating' stock that I am holding.
Defies all conventional investing outcome.
By all account, this stock should be heading up but it is not happening.
Still scratching my head.
Defies all conventional investing outcome.
By all account, this stock should be heading up but it is not happening.
Still scratching my head.
stlimst ( Date: 27-Feb-2026 22:41) Posted:
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Yes, CCL holds massive amount of CAREIT shares.
According to the in-specie distribution annoucement, the Proposed Dividend In Specie will result in a decrease in CCL&rsquo s unitholding in CAREIT by approximately 4.9%, from approximately 42.8% to approximately 37.9% of the total number of CAREIT Units.
CCL will be entitled to CAREIT' s DPU distribution.
Can you imaging the amount of cash coming to CCL?
ICCL will have means to further unlock the value for shareholders.
CEO just bought 50K shares today at $1.55.
Various houses have target price around $1.90 (UOB Kay Hian) to $2.05 (CGSI)
I wonder why there were sellers selling today at $1.50???
I have max out my investment limit on Centurion and will be holding this for both dividiends and capital gain.
Good luck to investors.
According to the in-specie distribution annoucement, the Proposed Dividend In Specie will result in a decrease in CCL&rsquo s unitholding in CAREIT by approximately 4.9%, from approximately 42.8% to approximately 37.9% of the total number of CAREIT Units.
CCL will be entitled to CAREIT' s DPU distribution.
Can you imaging the amount of cash coming to CCL?
ICCL will have means to further unlock the value for shareholders.
CEO just bought 50K shares today at $1.55.
Various houses have target price around $1.90 (UOB Kay Hian) to $2.05 (CGSI)
I wonder why there were sellers selling today at $1.50???
I have max out my investment limit on Centurion and will be holding this for both dividiends and capital gain.
Good luck to investors.
JAMMIE ( Date: 27-Feb-2026 12:25) Posted:
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Sgx announcement. CEO bought 50000 shares at 1.55....
the managment is very smart. They have kept a wholoe load of CAREIT shares in the pocket. If CAREIT contunues to go up, it will continue to give dividends to the parent company, and as mngt at its dicretion can keep awarding shareholders with more dividend in species, and higher the price, the lesser they have to give. On the contrary if they want and share price is not going up much, they can still reward shareholders with more of CAREIT shares, and conserve cash to grown the business of mother company.
they have really uncloked value for shareholders and its a good idea to hold it for the long term.
they have really uncloked value for shareholders and its a good idea to hold it for the long term.
I read the results very positively.
The headlines is not " FY2025 earnings fall to $114.8 mil on lower fair value gain and IPO costs"
It is : " CENTURION REPORTS 26% GROWTH IN FY 2025 NET PROFIT FROM CORE BUSINESS OPERATIONS TO S$139.2 MILLION"
The underlying core business operations saw a 26% increase in net profit after tax. Revenue rose by 17% year-on-year, driven by high financial occupancy rates and positive rental revisions across its accommodation segments.
More importantly, 2 cents dividend declared and in-specie distribution of 1 CAREIT (worth $1.20 at current price) for every 10 Centurion share held.
This translate to 14 cents per share distribution!!!!
But real kicker is the cash balance as at 31 Dec 2025 - a whopping $373,087,000.
Think what management can do with the huge cash pile.
Not sure why some shareholders are selling.
But looks OK, turnover is small.
As long as BBs are holding, should share price rise.
I am holding on for the dividend.
Good Luck
The headlines is not " FY2025 earnings fall to $114.8 mil on lower fair value gain and IPO costs"
It is : " CENTURION REPORTS 26% GROWTH IN FY 2025 NET PROFIT FROM CORE BUSINESS OPERATIONS TO S$139.2 MILLION"
The underlying core business operations saw a 26% increase in net profit after tax. Revenue rose by 17% year-on-year, driven by high financial occupancy rates and positive rental revisions across its accommodation segments.
More importantly, 2 cents dividend declared and in-specie distribution of 1 CAREIT (worth $1.20 at current price) for every 10 Centurion share held.
This translate to 14 cents per share distribution!!!!
But real kicker is the cash balance as at 31 Dec 2025 - a whopping $373,087,000.
Think what management can do with the huge cash pile.
Not sure why some shareholders are selling.
But looks OK, turnover is small.
As long as BBs are holding, should share price rise.
I am holding on for the dividend.
Good Luck
Joelton ( Date: 27-Feb-2026 10:25) Posted:
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Market does not like the result despite reasonable profit and dividend....Will hold the lots bought at 154 yesterday..
Centurion&rsquo s FY2025 earnings fall to $114.8 mil on lower fair value gain and IPO costs recommends final div of 2 cents
Centurion Corporation reported a 67% year-on-year decline in FY2025 earnings to $114.8 million, primarily due to lower fair value gains and IPO costs. Despite this, core business operations saw a 26% increase in net profit after tax. Revenue rose by 17% year-on-year, driven by high financial occupancy rates and positive rental revisions across its accommodation segments.
Centurion Corp just reported FY25 results :
FY 2025 revenue increased 17% YoY to S$295.9 million, driven by healthy rental revisions across markets and strong financial occupancies in Singapore and the UK.
&bull Net Profit After Tax Attributable to Equity Holders was S$114.8 million in FY 2025, lower by 67% YoY, mainly due to a lower fair value gain on investment properties compared to FY 2024 as well as costs incurred in relation to the IPO of CAREIT
. &bull Healthy portfolio pipeline of multiple developments, with new bed capacities expected to be completed by 2026, 2027, and 2028.
&bull The Board has recommended a final dividend of 2.0 Singapore cents per share, and a special Distribution In Specie of one CAREIT unit for every ten Centurion shares.
The cash balance is $373,087,000 !!!
FY 2025 revenue increased 17% YoY to S$295.9 million, driven by healthy rental revisions across markets and strong financial occupancies in Singapore and the UK.
&bull Net Profit After Tax Attributable to Equity Holders was S$114.8 million in FY 2025, lower by 67% YoY, mainly due to a lower fair value gain on investment properties compared to FY 2024 as well as costs incurred in relation to the IPO of CAREIT
. &bull Healthy portfolio pipeline of multiple developments, with new bed capacities expected to be completed by 2026, 2027, and 2028.
&bull The Board has recommended a final dividend of 2.0 Singapore cents per share, and a special Distribution In Specie of one CAREIT unit for every ten Centurion shares.
The cash balance is $373,087,000 !!!
Based on the results just announced on 26 February 2026, the total value for a Centurion Corporation Limited (CCL) shareholder is a combination of a final cash dividend and a dividend in specie of Centurion Accommodation REIT (CAREIT) units.
Here is the computation of the total value per share:
1. Final Cash Dividend
Amount: 2.0 Singapore cents per share.
Total FY2025 Cash: Including the 2.0 cents interim dividend already paid in September 2025, the total cash dividend for the year is 4.0 cents.
2. Dividend in Specie (CAREIT Units)
As you noted, the company has confirmed a distribution ratio of 1 CAREIT unit for every 10 CCL shares held. To find the "cash equivalent" value of this distribution, we look at the current market price of CAREIT (SGX: C8RT).
CAREIT Current Price: Approximately S$1.11 (as of late Feb 2026 results).
Value per CCL Share: S\$1.11 \div 10 = \mathbf{11.1 \text{ cents}} per share.
Total Dividend Value Computation
If you hold 1 share of Centurion Corporation Limited, the total value of the "just announced" distribution is:
Component Value Per Share (Est.)
Final Cash Dividend 2.00 cents
Dividend in Specie (Value of 0.1 CAREIT unit) 11.10 cents
Total Value per Share 13.10 cents
stlimst ( Date: 25-Feb-2026 11:32) Posted:
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Centurion will be reporting FY25 results tomorrow, 16 Feb.
Good showing by Cent ACREIT will be reflected.
Flushed with cash from the IPO, hoping management will reward loyal shareholders.
Cash dividend and dividend in-specie coming.
Good showing by Cent ACREIT will be reflected.
Flushed with cash from the IPO, hoping management will reward loyal shareholders.
Cash dividend and dividend in-specie coming.
Centurion Accommodation Reit posts DPU of S$0.01739 in first results since IPO
This is 6.7% higher than its forecast of S$0.0163 its revenue is also higher than forecast
[SINGAPORE] (CAReit) reported distribution per unit of S$0.01739 for the financial period ended Dec 31, 2025, 6.7 per cent higher than its forecast of S$0.0163.
Revenue was S$50.7 million for the period from Sep 24 to Dec 31, 3.4 per cent higher than its S$49 million forecast.
This was primarily from higher rental rates in Singapore, as well as better-than-expected occupancy rates in its portfolio, said the manager in a bourse filing on Monday (Feb 23) evening.
This brought its net property income to S$36.1 million, up 4.1 per cent from its forecast of S$34.6 million.
Distributable income was just under S$30 million, 6.7 per cent higher than its forecast of S$28.1 million.
The DPU of S$0.01739 will be paid on Mar 31, after the ex-date of Mar 2 and record date of Mar 3.
The annualised distribution yield is 5.8 per cent, based on the pure-play worker and student accommodation Reit&rsquo s closing price of S$1.11 a unit on Dec 31, 2025.
This are the first results for CAReit since its listing last September. Its initial public offering was the second-biggest mainboard listing on the Singapore Exchange that year, raising around S$771.1 million.
Besides strong contributions from its assets, listing fees &ndash which are non-deductible and have no impact on taxable income and distributable income &ndash were 34.9 per cent lower than forecast, at S$5.3 million.
Finance costs were 17.6 per cent lower than its forecast of S$3.9 million, from lower weighted average loan drawdown and lower benchmark rates.
The manager said CAReit&rsquo s portfolio remained resilient in the latest financial period. Its purpose-built workers accommodation (PBWA) portfolio had a financial occupancy of 97.6 per cent that for its purpose-built student accommodation portfolio was 99.1 per cent.
As at Dec 31, CAReit&rsquo s portfolio value was S$1.9 billion with 14 operational properties and 25,154 beds in Singapore, the United Kingdom and Australia.
Its weighted average interest rate, excluding amortisation of upfront and other fees, stood at 3.5 per cent. Including the amortisation of such fees, the weighted average financing cost would have been 3.7 per cent.
Interest coverage ratio was 6.6 times, and its aggregate leverage stood at 22.1 per cent, with a weighted average debt maturity of 4.3 years as at end 2025.
Following the acquisition of Sydney student housing Epiisod Macquarie Park, the trust&rsquo s aggregate leverage rose to 30.7 per cent, with a debt headroom of S$348 million, based on a 40 per cent leverage threshold.
Net asset value per unit was S$0.87.
Tony Bin, CEO of the manager, said it would stay focused on driving organic value through asset-enhancement initiatives, and leverage its strong balance sheet to pursue accretive acquisitions.
&ldquo Supported by our sponsor&rsquo s (right-of-first-refusal) pipeline and a structural demand for quality student and worker accommodation, we are well positioned to deliver sustainable, long-term value to our unitholders,&rdquo he said.
CAReit units closed at S$1.15, down 1.7 per cent or S$0.02 before the results on Monday.
This is 6.7% higher than its forecast of S$0.0163 its revenue is also higher than forecast
[SINGAPORE] (CAReit) reported distribution per unit of S$0.01739 for the financial period ended Dec 31, 2025, 6.7 per cent higher than its forecast of S$0.0163.
Revenue was S$50.7 million for the period from Sep 24 to Dec 31, 3.4 per cent higher than its S$49 million forecast.
This was primarily from higher rental rates in Singapore, as well as better-than-expected occupancy rates in its portfolio, said the manager in a bourse filing on Monday (Feb 23) evening.
This brought its net property income to S$36.1 million, up 4.1 per cent from its forecast of S$34.6 million.
Distributable income was just under S$30 million, 6.7 per cent higher than its forecast of S$28.1 million.
The DPU of S$0.01739 will be paid on Mar 31, after the ex-date of Mar 2 and record date of Mar 3.
The annualised distribution yield is 5.8 per cent, based on the pure-play worker and student accommodation Reit&rsquo s closing price of S$1.11 a unit on Dec 31, 2025.
This are the first results for CAReit since its listing last September. Its initial public offering was the second-biggest mainboard listing on the Singapore Exchange that year, raising around S$771.1 million.
Besides strong contributions from its assets, listing fees &ndash which are non-deductible and have no impact on taxable income and distributable income &ndash were 34.9 per cent lower than forecast, at S$5.3 million.
Finance costs were 17.6 per cent lower than its forecast of S$3.9 million, from lower weighted average loan drawdown and lower benchmark rates.
The manager said CAReit&rsquo s portfolio remained resilient in the latest financial period. Its purpose-built workers accommodation (PBWA) portfolio had a financial occupancy of 97.6 per cent that for its purpose-built student accommodation portfolio was 99.1 per cent.
As at Dec 31, CAReit&rsquo s portfolio value was S$1.9 billion with 14 operational properties and 25,154 beds in Singapore, the United Kingdom and Australia.
Its weighted average interest rate, excluding amortisation of upfront and other fees, stood at 3.5 per cent. Including the amortisation of such fees, the weighted average financing cost would have been 3.7 per cent.
Interest coverage ratio was 6.6 times, and its aggregate leverage stood at 22.1 per cent, with a weighted average debt maturity of 4.3 years as at end 2025.
Following the acquisition of Sydney student housing Epiisod Macquarie Park, the trust&rsquo s aggregate leverage rose to 30.7 per cent, with a debt headroom of S$348 million, based on a 40 per cent leverage threshold.
Net asset value per unit was S$0.87.
Tony Bin, CEO of the manager, said it would stay focused on driving organic value through asset-enhancement initiatives, and leverage its strong balance sheet to pursue accretive acquisitions.
&ldquo Supported by our sponsor&rsquo s (right-of-first-refusal) pipeline and a structural demand for quality student and worker accommodation, we are well positioned to deliver sustainable, long-term value to our unitholders,&rdquo he said.
CAReit units closed at S$1.15, down 1.7 per cent or S$0.02 before the results on Monday.
Centurion Accommodation reit Declared DPU: 1.739 Singapore cents (for the period from listing in Sept 2025 to Dec 31, 2025).
Centurion Corp (CCL) holds approximately 42.8% of the total units in issue (roughly 735.7 million units).
Estimated Cash Payout: CCL will receive approximately S$12.8 million in distribution income for this period.
Let's see how it affects the share price tomorrow......vested...
Centurion Corporation unit acquires 65% stake in factory building plot for S$4.8 million
The aim is to develop and operate a purpose-built workers accommodation on the site
[SINGAPORE] A wholly owned subsidiary of property player Centurion Corporation : OU8 -0.65% has purchased a 65 per cent stake in Manna 777 Properties for S$4.8 million.
Manna 777 Properties owns a plot of freehold land at 7 Kim Chuan Lane, which spans 975.9 square metres and is near Tai Seng MRT station as well as ComfortDelGro Driving Centre.
In a bourse filing on Friday (Feb 13), Centurion Corp said the sellers are investment holding company ACKC Hesed and real estate developer Mulberry Land.
The Centurion unit, Centurion Dormitory Venture (II), also entered into a joint venture with ACKC Hesed and Mulberry Land. The latter two parties hold, respectively, the remaining 24.5 per cent and 10.5 per cent of Manna 777 Properties&rsquo total issued share capital.
The aim of the venture is to develop and operate a purpose-built workers accommodation on the site, Centurion Corp said.
The group also extended a sum of S$1 million to Manna 777 Properties in connection with the deal, to be capitalised into additional shares after the acquisition.
Mulberry Land was incorporated in August 2021 and is owned by Darren Ku, the founder of Venturer Group.
Shares of Centurion Corp finished Friday down 0.7 per cent or S$0.01 at S$1.52.
CGSI initiates coverage on Centurion Accomodation Reit with &lsquo add&rsquo , S$1.38 target price
RHB upgrades Centurion Corporation&rsquo s target price to S$1.88 from S$1.86
[SINGAPORE] Analysts are turning bullish on the Centurion ecosystem, with CGS International (CGSI) initiating coverage on the newly listed Centurion Accommodation Reit (CAReit) while RHB and UOB Kay Hian see upside in its sponsor, Centurion Corporation.
CGSI initiated coverage on CAReit on Jan 21 with an &ldquo add&rdquo rating and a target price of S$1.38, representing a potential upside from its trading price of S$1.10 at the time of CGSI&rsquo s report.
CAReit was listed on the SGX mainboard in September last year, with an initial public offering (IPO) price of S$0.88 per unit.
CGSI Analysts Li Jialin and Lock Mun Yee describe the counter as offering &ldquo hidden value&rdquo and being &ldquo primed for growth&rdquo .
They project FY2026 and FY2027 distribution per unit (DPU) growth of 27.4 per cent and 10.1 per cent respectively, driven by operational bed capacity exceeding IPO forecasts.
This growth is attributed to the accelerated addition of 1,980 beds at Westlite Mandai, expected to be operational by April 2026, and the retention of 664 beds at Westlite Toh Guan until late 2028.
&ldquo We like CAReit for its strong and visible DPU growth and potential for inorganic and organic opportunities,&rdquo the analysts said, noting that the Reit offers a FY2026 forecast dividend yield of 6.5 per cent.
&ldquo Multi-year sector tailwinds, such as the construction upcycle in Singapore and robust demand for (purpose built student accommodation) in UK and Australia, are likely to underpin CAReit&rsquo s robust earnings outlook,&rdquo the analysts said.
Parent company rerates
Meanwhile, RHB has maintained &ldquo buy&rdquo on Centurion Corporation, and raised its target price to S$1.88 from S$1.86 on Jan 21.
&ldquo We remain positive on Centurion Corp&rsquo s prospects, as the group focuses on property development, acquisitions, and being CAReit&rsquo s manager post spin-off of its assets to the latter,&rdquo analyst Alfie Yeo said.
The target price upgrade follows the completion of the divestment of Epiisod Macquarie Park to CAReit for about A$345 million (S$280 million).
RHB increased its target price based on a higher sum-of-the-parts valuation, reflecting the slightly higher market valuation of its stake in CAReit. The brokerage also highlights potential future rewards for shareholders, noting that Centurion may declare another dividend in specie as it pares down its stake in the Reit next year.
Centurion Corporation shares were trading at S$1.41 at the time of RHB&rsquo s report.
Separately, UOB Kay Hian named Centurion Corporation a top pick in its construction sector update on Jan 20, with a target price of S$1.90.
The brokerage maintains an &ldquo overweight&rdquo call on the construction sector, and notes that the industry is &ldquo set to outperform, with strong construction demand and order book visibility of two to four years&rdquo .
Since its previous construction sector note, &ldquo the sector has undergone a meaningful valuation rerating&rdquo , the brokerage said. This is driven by a construction upcycle supported by post-pandemic project catch-up and a new wave of infrastructure investments.
Recent analyst target CHS 205 uob 190 RHB 188 philip 181 KGL 180 MAYBANK 152....not sure updated....dyodd....vested....
This is great, will hold on to the shares.