Centurion Accommodation Reit

Group will not let its CAReit stake fall below 30%, says CEO Kong Chee Min

The Reit may look at Centurion Corporation’s development assets, including the upcoming Kranji Close dormitory

Its net property income stands at S$78.4 million, up 4.3% from its forecast

Lessons can be learned from the contrasting fortunes of Centurion Accommodation Reit and UI Boustead Reit

The brokerage initiates with a target price of S$1.86 per share

Revenue is 2.7% higher than the projected S$51.1 million; better-than-expected results due to higher occupancy and rental rates

Post-upgrades, rents may be raised to reflect the higher quality and costs of maintaining the facilities

For the full year, net profit was down 67 per cent to S$114.8 million

This is 6.7% higher than its forecast of S$0.0163; its revenue is also higher than forecast