Uncertainty on the worker accommodation front stems from the impact of virus management measures imposed by governments, as well as the hit to clients.
But the group also noted that it has won a tender to lease and manage four new quick-build dormitories in Singapore - in line with its asset-light growth strategy - and has resumed expansion works at a facility in Johor, which should be completed by Q1 2021. Centurion added that it remains confident in the long-term fundamentals of its business, including the resilience of both the student and worker housing asset classes.
Chief executive Kong Chee Min said in a statement that business conditions are still fluid, but added that Centurion has taken steps for prudent capital management, including deferring some capital expenditure and refinancing medium-term notes.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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