Centurion

Centurion: To acquire 100% stake in Msia co Approach Impact for RM180k and provide an advance of RM11.8m to repay advances to the vendor. Approach Impact is the registered and beneficial owner of a piece of lan with an area of approx 28.3 sqm. The land will be developed into workers accomodation and phase 1 is expected to be operational in 2014 with capacity of 6k beds. Phase 2 is expected to either consist of another 4k beds or an industrial building. Co currently trades at P/B of 1.5x and at annualized P/E of 9.1x.