Centurion - RHB Research 2025-05-23: More Positive On Rate Assumptions; Keep BUY

• We believe Centurion (SGX:OU8) remains well positioned to yield better rental rates in Singapore from the dormitory supply shortage situation.
• We are positive on Centurion on better purpose-built workers accommodation (PBWA) bed rates here, with longer-term growth supported by overseas properties.

1Q25 revenue in line.

• - Read this at SGinvestors.io -
• Singapore saw a continued positive rental reversion, with overall occupancy remaining resilient at 99%. Malaysia experienced a drop in overall occupancy to 82% (1Q24: 96%) on headwinds from a limit on foreign workers, mitigated by bed rate increases.
• - Read this at SGinvestors.io -

Minimal impact to US tariffs.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-03-20 Centurion - Dividend In Specie In The Works; Maintain BUY.

Previous report by RHB:
2026-01-21 Centurion - Completes EPIISOD Macquarie Divestment; BUY.

Price targets by 6 other brokers at Centurion Target Prices.

Listing of research reports at Centurion Analyst Reports.

Relevant links:
Centurion Share Price History,
Centurion Announcements,
Centurion Dividend Payout Dates & Corporate Actions,
Centurion News