Centurion Corporation Limited (“Centurion” or the “Group”) has grown to be one of Singapore’s largest workers and student accommodation owner-operators. It develops, owns and operates quality workers accommodation in the region and student accommodation assets in Australia and the United Kingdom. It also operates an optical storage media manufacturing business.
Established in 1981 as an audio cassette tape manufacturing business in Singapore, it became one of the market leaders in the optical storage media industry and was listed on the mainboard of the SGX-ST in 1995. Following a reverse acquisition exercise in 2011, the Group successfully diversified into the accommodation business to capture growth opportunities in this niche market.
As at 31 March 2015, Centurion has a strong portfolio of 14 operational accommodation assets totalling 45,662 beds. It has nine operational workers accommodation assets, managed under the Westlite brand, with 43,300 beds in Singapore and Malaysia, as well as five student accommodation assets with 2,362 beds in Australia and the United Kingdom. Upon completion of the development of two workers accommodation assets in Singapore and three assets in Malaysia, the Group’s accommodation portfolio is expected to grow to over 74,000 beds in 2017.
Beyond Singapore and Malaysia, the Group owns a site for the proposed development of workers accommodation in Jakarta, Indonesia as well as a land plot in Port Hedland, Western Australia for proposed development as a short-stay accommodation catering to the region’s mining industry.
Leveraging its expertise in workers accommodation, the Group diversified into the student accommodation business with the acquisition of RMIT Village in Melbourne, Australia as well as four student accommodation assets in Liverpool and Manchester, United Kingdom. Besides exploring the potential to enhance these assets, the Group plans to grow its student accommodation portfolio in key educational hubs around the world.
With a clear growth strategy to actively enhance its assets, identify strategic acquisitions and joint ventures, as well as develop customised accommodation management services to third party owners, Centurion is well positioned to become one of the region’s leading provider of quality accommodation.