January 16, 2015 / 10:55 AM / 5 years ago

Singapore's Centurion explores REIT listing for accommodation assets

SINGAPORE, Jan 16 (Reuters) - Centurion Corp Ltd, which specialises in worker accommodation, is exploring the feasibility of listing some of these facilities as a real estate investment trust (REIT) on the Singapore Exchange, it said on Friday.

The Singapore company has 23,500 beds for workers across three of its facilities in Singapore and 14,500 beds in Malaysia. It has more projects under construction.

It is working with Barclays, United Overseas Bank Ltd and UOB Kay Hian to explore the proposed transaction, it said.

Kong Chee Min, chief executive of Centurion, said the listing would unlock value for shareholders as well as free up capital for acquisitions.

Reporting By Aradhana Aravindan. Editing by Jane Merriman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below