Centurion

Centurion: Further boosts its profile as an ‘Iskandar Play’, after the grp announced that said it had acquired two accommodation assets in Johor, Msia for RM9.18m ($3.68m). The acquisitions will boost its overall portfolio and add approximately 7,000 beds to the group's existing 20,200 beds in Malaysia. The first is a 10,970-sqm plot of land in Senai, which is adjacent to its existing development and costs RM5.48m. The group plans to develop additional blocks of workers accommodation in Senai for a further 6,000 beds. Senai serves as a base for major multinational electronics manufacturers and is one of the flagship zones for the Iskandar Development Region. Centurion intends for their acquisition to serve the needs of co’s operating in the established industrial parks of Senai. The second is a 3,616-sqm land parcel, in Pasir Gudang Johor, with two existing workers accommodation blocks with a 1,000-bed capacity. The acquisition will bring the total number of beds in pasir Gudang to 2,000. See recent transactions by Centurion below: In Dec12, Centurion acquired Brave Privilege for RM 4.1m ($1.6m), which is currently constructing two 5-storey blocks of workers accommodation on its 1.7 acre (c.183k sf) land parcel in Senai, Flagship E, Iskandar, with capacity of 3,000 beds. The dormitory is expected to commence operations in 2Q13. In Oct12, Centurion acquired Duke Dormitory (c.1,000 beds) for RM2.8m. Duke is also the registered owner of two adjacent plots of land with total area of c.4,775 sm (c.51k sf), situated within a residential enclave at Pasir Gudang, Flagship D, Iskandar.