Maybank Securities analysts Eric Ong and Jarick Seet have initiated coverage on worker and student dormitory operator Centurion Corporation at a target price (TP) of $1.45. 

They note that despite the share price’s outperformance, the current valuation of the stock’s around 10 times forward price-to-earnings ratio (P/E) is 「not too excessive」, thanks to recurring earnings visibility from robust construction-driven demand in Singapore and a clear pipeline of capacity expansion.

Ong and Seet write in their Mar 28 report: 「In 2Q2025, about 9,000 dormitory beds will be taken out of local supply as the lease to operate one of the larger dorms by its competitor will not be renewed.」