Christmas present for readers of SG TTI: I’m sharing my work on Centurion. :)
This is a company I’ve researched on for the past 8 mths, and although I’m optimistic about the longer term prospects of Centurion Corp, I currently do not own any position in the company.
The business model of Centurion is easy to understand: It is primarily a foreign worker dormitory operator (the industry lingo is “Purpose Built Workers’ Accommodation or PBWA), and in recent years, has expanded to manage student accommodations. It also owns as yet, un-utilised plots of land in Malaysia, Australia & Indonesia, which will eventually be developed into “short stay accommodation” if they could get the rezoning approved (Australia) & more workers’ dorm (Indonesia & Malaysia)
PBWA doesn’t just include dormitories. It can include factories or industrial properties that have been modified ...