Centurion

Centurion: UOB Kay Hian maintains Buy with a higher Tp of $1.00. The house notes that Centurion announced the acquisition of four student dormitories (1,906 beds) in UK for £77m (S$164.5m). Strategically located near renowned institutions, all the dormitories are operating near full occupancy rates. The house raise its FY14-16 profit forecasts by 3.8% to 14.1%. The UK dormitories are expected to contribute profit from 4Q14, as the acquisition will only be completed on 1 Sep 14.