Latest news with #PBWA
Business Times
14-07-2025
- Business
- Business Times
Centurion confirms accommodation Reit listing with S$1.8 billion portfolio value
[SINGAPORE] Centurion Corp announced on Monday (Jul 14) that it has entered into agreements for the proposed listing of its new real estate investment trust (Reit) – named Centurion Accommodation Reit – which is slated for the mainboard of the Singapore Exchange. The Reit will cover income-generating assets in the purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA), and other long-stay lodging segments globally, excluding Malaysia. The manager of the Reit will be Centurion Asset Management, a wholly owned unit of Centurion Corp, while Perpetual (Asia) will serve as trustee. The proposed initial public offering (IPO) will include 14 assets at launch, consisting of five PBWA properties in Singapore, eight PBSA properties in the UK and one PBSA property in Australia. Following the completion of a deferred acquisition of the Epiisod Macquarie Park development in Sydney, the enlarged portfolio will comprise 15 assets with a total of 27,602 beds. The agreed property value for the initial portfolio stands at over S$1.8 billion, rising to around S$2.1 billion upon the completion of the Sydney asset, said the company in a statement. The PBWA assets have 21,282 beds and the PBSA assets have 2,772 beds as at Mar 31. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Centurion Corp expects to divest about S$1.2 billion worth of its stake in the initial portfolio to the Reit. This comprises around S$497 million in cash and about S$687 million in the form of sponsor units issued by the Reit. Of the estimated cash proceeds, the group intends to use around S$1.2 million to cover professional fees and other expenses incurred by Centurion due to the IPO of Centurion Accommodation Reit – excluding fees incurred by the Reit itself. Furthermore, S$10 million will be used to compensate Lian Beng Group for foregone asset management fees, which would have been shared among Westlite Mandai and Westlite Ubi. Both will now be managed solely by Centurion Asset Management. Nearly £5 million (S$8.8 million) will be allocated to fund asset enhancement activities and certain additional works on the PBSA assets in the UK, which will be in Centurion Accommodation Reit's portfolio. A sum of S$7.7 million will be used to pay capital gains tax arising from the asset sales, and the remaining balance will be deployed for debt repayment and funding of future acquisitions and development of new PBWA or PBSA assets, or assets for other accommodation purposes. The group will divest its 100 per cent interest in Westlite Toh Guan, its 100 per cent interest in Westlite Woodlands and its 51 per cent interest in Westlite Ubi to Centurion Accommodation Reit. Meanwhile, Lian Beng Group will divest the remaining 49 per cent interest in Westlite Ubi to Centurion Accommodation Reit. In relation to Westlite Mandai, Lian Beng-Centurion (Dormitory) will surrender its existing lease to Lian Beng-Centurion (Mandai). The Mandai vendor, in which the group owns a 45 per cent interest, will grant a leasehold estate for a term of 32 years, with an option to renew for 30 years, to Centurion Accommodation Reit. In addition, the existing tenancy agreements entered into by the Mandai master tenant will be assigned to the Reit. Through the UK vendor, the group will divest its roughly 99.9 per cent interest in the eight PBSA assets located in the UK to Centurion Accommodation Reit. A third party vendor will, through the UK vendor, divest the remaining 0.1 per cent interest in the eight PBSA assets to the Reit. The UK vendor will receive the purchase consideration for the divestment of these PBSA assets in the form of consideration units. The group will divest its 100 per cent interest in dwell East End Adelaide in Australia to the Reit, too. Following the IPO of the Reit and upon the practical completion of Epiisod Macquarie Park which is under development, the group will divest its 25 per cent interest in the park. Centurion Properties, a controlling shareholder of the company, will then divest the remaining 75 per cent interest in Epiisod Macquarie Park to the Reit. Centurion Corp called for a trading halt on Monday morning. Its shares closed flat at S$1.76 on Friday.
Business Times
14-07-2025
- Business
- Business Times
Centurion moves ahead with Centurion Accommodation Reit listing with S$1.8 billion portfolio value
[SINGAPORE] Centurion Corp announced on Monday (Jul 14) that it has entered into agreements for the proposed listing of its new real estate investment trust (Reit) – named Centurion Accommodation Reit – which is slated for the mainboard of the Singapore Exchange. The Reit will cover income-generating assets in the purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA), and other long-stay lodging segments globally, excluding Malaysia. The manager of the Reit will be Centurion Asset Management, a wholly owned unit of Centurion Corp, while Perpetual (Asia) will serve as trustee. The proposed initial public offering (IPO) will include 14 assets at launch, consisting of five PBWA properties in Singapore, eight PBSA properties in the UK and one PBSA property in Australia. Following the completion of a deferred acquisition of the Epiisod Macquarie Park development in Sydney, the enlarged portfolio will comprise 15 assets with a total of 27,602 beds. The agreed property value for the initial portfolio stands at over S$1.8 billion, rising to around S$2.1 billion upon the completion of the Sydney asset, said the company in a statement. The PBWA assets have 21,282 beds and the PBSA assets have 2,772 beds as at Mar 31. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Centurion Corp expects to divest about S$1.2 billion worth of its stake in the initial portfolio to the Reit. This comprises around S$497 million in cash and about S$687 million in the form of sponsor units issued by the Reit. The group will divest its 100 per cent interest in Westlite Toh Guan, its 100 per cent interest in Westlite Woodlands and its 51 per cent interest in Westlite Ubi to Centurion Accommodation Reit. Meanwhile, Lian Beng Group will divest the remaining 49 per cent interest in Westlite Ubi to Centurion Accommodation Reit. In relation to Westlite Mandai, Lian Beng-Centurion (Dormitory) will surrender its existing lease to Lian Beng-Centurion (Mandai). The Mandai vendor, in which the group owns a 45 per cent interest, will grant a leasehold estate for a term of 32 years, with an option to renew for 30 years, to Centurion Accommodation Reit. In addition, the existing tenancy agreements entered into by the Mandai master tenant will be assigned to the Reit. Through the UK vendor, the group will divest its roughly 99.9 per cent interest in the eight PBSA assets located in the UK to Centurion Accommodation Reit. A third party vendor will, through the UK vendor, divest the remaining 0.1 per cent interest in the eight PBSA assets to the Reit. The UK vendor will receive the purchase consideration for the divestment of these PBSA assets in the form of consideration units. The group will divest its 100 per cent interest in dwell East End Adelaide in Australia to the Reit, too. Following the IPO of the Reit and upon the practical completion of Epiisod Macquarie Park which is under development, the group will divest its 25 per cent interest in the park. Centurion Properties, a controlling shareholder of the company, will then divest the remaining 75 per cent interest in Epiisod Macquarie Park to the Reit. Centurion Corp called for a trading halt on Monday morning. Its shares closed flat at S$1.76 on Friday.
Business Times
14-07-2025
- Business
- Business Times
Centurion moves ahead with Centurion Accommodation Reit listing, proposes S$1.2 billion in divestments
[SINGAPORE] Centurion Corp announced on Monday (Jul 14) that it has entered into agreements for the proposed listing of its new real estate investment trust (Reit) – named Centurion Accommodation Reit – which is slated for the mainboard of the Singapore Exchange. The Reit will cover income-generating assets in the purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA), and other long-stay lodging segments globally, excluding Malaysia. The manager of the Reit will be Centurion Asset Management, a wholly owned unit of Centurion Corp, while Perpetual (Asia) will serve as trustee. The proposed initial public offering (IPO) will include 14 assets at launch, consisting of five PBWA properties in Singapore, eight PBSA properties in the UK and one PBSA property in Australia. Following the completion of a deferred acquisition of the Epiisod Macquarie Park development in Sydney, the enlarged portfolio will comprise 15 assets with a total of 27,602 beds. The agreed property value for the initial portfolio stands at over S$1.8 billion, rising to around S$2.1 billion upon the completion of the Sydney asset, said the company in a statement. The PBWA assets have 21,282 beds and the PBSA assets have 2,772 beds as at Mar 31. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Centurion Corp expects to divest about S$1.2 billion worth of its stake in the initial portfolio to the Reit. This comprises around S$497 million in cash and about S$687 million in the form of sponsor units issued by the Reit. The group will divest its 100 per cent interest in Westlite Toh Guan, its 100 per cent interest in Westlite Woodlands and its 51 per cent interest in Westlite Ubi to Centurion Accommodation Reit. Meanwhile, Lian Beng Group will divest the remaining 49 per cent interest in Westlite Ubi to Centurion Accommodation Reit. In relation to Westlite Mandai, Lian Beng-Centurion (Dormitory) will surrender its existing lease to Lian Beng-Centurion (Mandai). The Mandai vendor, in which the group owns a 45 per cent interest, will grant a leasehold estate for a term of 32 years, with an option to renew for 30 years, to Centurion Accommodation Reit. In addition, the existing tenancy agreements entered into by the Mandai master tenant will be assigned to the Reit. Through the UK vendor, the group will divest its roughly 99.9 per cent interest in the eight PBSA assets located in the UK to Centurion Accommodation Reit. A third party vendor will, through the UK vendor, divest the remaining 0.1 per cent interest in the eight PBSA assets to the Reit. The UK vendor will receive the purchase consideration for the divestment of these PBSA assets in the form of consideration units. The group will divest its 100 per cent interest in dwell East End Adelaide in Australia to the Reit, too. Following the IPO of the Reit and upon the practical completion of Epiisod Macquarie Park which is under development, the group will divest its 25 per cent interest in the park. Centurion Properties, a controlling shareholder of the company, will then divest the remaining 75 per cent interest in Epiisod Macquarie Park to the Reit. Centurion Corp called for a trading halt on Monday morning. Its shares closed flat at S$1.76 on Friday.
Focus Malaysia
18-06-2025
- Business
- Focus Malaysia
ISP Group clinches double win at BrandLaureate SMEs BestBrands Awards 2025
The ISP Group which specialises in the logistics warehouses and manufacturing hub (LWMH) and purpose-built workers accommodations (PBWA) segments was honoured with a double joy at the recent BrandLaureate SMEs BestBrands Awards 2025. Its founder and CEO Eric Ng was conferred the Brand Leadership Award under the BrandLaureate SMEs BestBrands Awards 2025. The award was presented by guest of honour Tan Sri Dzulkifli Ahmad who was the former Malaysian Anti-Corruption (MACC) chief commissioner and currently the Anti-Money Laundering and Anti-Corruption (AMLAC) Academy president. Additionally, the ISP Group was also honoured with the Excellence in Industrial Real Estate Solutions award which further reinforces the group's position as a key industry player in the development of LWMH and PBWA. Ng's leadership goes beyond business. During the COVID-19 pandemic, he led 33 COVID-19 relief trips while contributing RM132,000 worth of essential supplies such as milk powder across multiple states as well as enhancing employee welfare with health kits and supplements. 'These accolades are a reflection of our team's relentless pursuit of excellence, guided by our core values of integrity, innovation and sustainable development,' commented Ng who had also invested RM125,000 in workplace safety upgrades. 'We are humbled and honoured to be recognised by the BrandLaureate; we remain committed to advancing the industry through ESG (environment, social and governance)-driven, future-ready solutions.' Hosted by The World Brands Foundation, the BrandLaureate Awards honour outstanding brands and individuals who demonstrate excellence in branding, innovation and leadership. The 2025 event gathered Malaysia's top-performing SMEs and business visionaries to celebrate their contribution to the nation's economic progress. The BrandLaureate world president Prof Dr KK Johan has the following to sum up Ng's contributions to the property industry: 'Eric Ng embodies the essence of purpose-driven leadership and brand distinction. Under his stewardship, ISP Group has demonstrated how innovation, integrity and sustainability can be seamlessly integrated to build a brand that not only thrives commercially but also uplifts communities and industries.' – June 18, 2025
Yahoo
06-06-2025
- Business
- Yahoo
Share Prices of These 5 Singapore Stocks Have Broken Through Their 52-Week Highs: Are They Worth a Second Look?
Markets are dealing with lingering pessimism over the announcement of a raft of reciprocal tariffs from US President Donald Trump. Despite the dour mood, some businesses have still done well and managed to grow their revenue and profits. Investors can look at the list of stocks hitting their 52-week highs to filter out possible gems that they can add to their portfolios. We shine the spotlight on five such stocks that you may wish to add to your buy watchlist. Centurion is a provider of purpose-built worker accommodation (PBWA) and purpose-built student accommodation (PBSA) assets in countries such as Singapore, Malaysia, and China. As of 31 March 2025, the group owns and manages a portfolio of 37 accommodation assets totalling 69,929 beds. Centurion's share price has soared 55% year-to-date (YTD) and hit its 52-week high of S$1.50. The group released an encouraging business update for the first quarter of 2025 (1Q 2025). Revenue rose 13% year on year to S$69 million, led by a 15% year-on-year revenue jump in the PBWA segment. The average occupancy stayed high at 99% for Singapore's PBWA for 1Q 2025, and management has commenced the redevelopment of Westlite Toh Guan and Westlite Mandai to add 1,764 and 3,696 new beds by 4Q 2025 and 2026, respectively. Over in Malaysia, average occupancy dipped to 82% because of short-term headwinds from the foreign worker cap. Management is, however, exploring a potential development of 7,000 beds in Nusajaya in Johor. Meanwhile, Centurion is developing a new 732-bed PBSA in Macquarie Park (Sydney), with expected completion in 4Q 2025. Azeus is a provider of software products and services and delivers innovative IT solutions to organisations and government agencies in more than 100 countries. Azeus' share price has shot up 46% YTD to close at its 52-week and all-time high of S$16.50. The group announced a strong set of results for fiscal 2025 (FY2025) ending 31 March 2025. Revenue jumped 44% year on year to HK$474.8 million. Gross margin increased by six percentage points from 71% to 77%, with gross profit climbing 56% year on year to HK$363.8 million. Net profit leapt 96% year on year to HK$166.9 million. This growth is the result of the continued growth in the Azeus Products business line and its Central Electronic Record Keeping System contract. The group also doubled its free cash flow generation to HK$194.4 million for FY2025. A final dividend of HK$3.90 was declared, taking the FY2025 dividend to HK$5.50. Food Empire manufactures instant beverages, snack foods, and food ingredients and distributes them to more than 60 countries. The group has a portfolio of proprietary brands such as MacCoffee, CafePHO, and Klassno. The food and beverage manufacturer saw its share price soar 90% YTD to its 52-week high of S$1.86. For 1Q 2025, total revenue climbed 16.3% year on year to US$136.6 million, representing a strong start to the year. The strong performance was contributed to by a 33.8% year-on-year revenue increase in Southeast Asia and a 31.7% year-on-year revenue rise for South Asia. Food Empire adopted a dynamic pricing approach to cushion its performance from inflation and rising coffee bean costs. Looking ahead, the group plans to establish a freeze-dried soluble coffee manufacturing facility in Binh Dinh province, with completion expected to be by 2028. By the first half of 2025, the group will complete the expansion of its snack manufacturing facility in Malaysia. Over in Kazakhstan, construction of its first coffee-mix manufacturing facility should be completed by the end of this year. China Sunsine is a specialty chemical producer selling rubber accelerators, insoluble sulphur, and anti-oxidants. The group is the largest rubber accelerator in the world and serves more than 75% of global tyre makers, including Bridgestone, Michelin, and Goodyear. China Sunsine's share price climbed 23.3% YTD to hit its 52-week high of S$0.57. For 2024, the group saw revenue inch up 1% year on year to RMB 3.5 billion. Gross margin improved slightly from 22.9% to 24.2%, leading to a 6% year-on-year growth in gross profit to RMB 850 million. Net profit increased by 14% year on year to RMB 423.9 million for 2024. The business also churned out a positive free cash flow of RMB 459.5 million, up 9.6% year on year. In line with the good results, China Sunsine declared a final dividend of S$0.03, comprising an ordinary dividend of S$0.02 and a special dividend of S$0.01. This was higher than the previous year's total final dividend of S$0.025. SIA Engineering, or SIAEC, is a maintenance, repair, and overhaul (MRO) specialist for aircraft and also provides line and base maintenance services. SIAEC's share price rose 20.6% YTD to hit its 52-week high of S$2.87. For FY2025, the group reported revenue of S$1.24 billion, up 13.8% year on year. Operating profit stood at S$14.6 million while net profit came in at S$139.6 million, up 43.8% year on year. Net profit was boosted by a 17.4% year-on-year increase in the share of profits from SIAEC's associates and joint ventures. Free cash flow nearly doubled year on year from S$51.7 million to S$102.6 million for FY2025. A final dividend of S$0.07 was declared, slightly higher than the S$0.06 paid out a year ago. SIAEC declared a total FY2025 dividend of S$0.09. The group's strategy is to expand its geographical presence and also grow its capacity and MRO capabilities to handle new-generation aircraft. How do rich Singaporeans invest when volatility hits? They turn to companies with cash, history, and discipline. This free report highlights 5 blue chips that deserve your attention. Get your copy here and see who made the list. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Royston Yang does not own shares in any of the companies mentioned. The post Share Prices of These 5 Singapore Stocks Have Broken Through Their 52-Week Highs: Are They Worth a Second Look? appeared first on The Smart Investor.
