We initiate coverage on Centurion Corporation Limited with a “Buy” rating and a target price of S$0.42 based on discounted cash flow (DCF) methodology. This implies an upside of 37.53% (including dividends) from its last closing price.
Centurion Corporation Limited was formerly known as SM Summit Holdings Limited. SM Summit Holdings Limited was primarily in the optical disc manufacturing and services industry. In August 2011, SM Summit Holdings completed a reverse takeover transaction that gave the group worker dormitory assets and on 17 October 2011, SM Summit Holdings resumed trading as Centurion Corporation Limited.
Centurion’s revenue is derived from:
Figure 1: Centurion’s Accommodation Business growth profile
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