Latest news with #Centurion
The Herald
2 days ago
- The Herald
Five people gunned down at tavern in Olievenhoutbosch
Five people were gunned down in a tavern at Shoba informal settlement in Olievenhoutbosch in Centurion, south of Pretoria, on Friday evening. Police said the suspects stormed the tavern and 'started shooting randomly, without saying a word'. Police said two women and three men were killed by the assailants, while three other patrons were injured. Police said the 10 suspects fled the scene and are still at large. Investigations are under way. 'The motive for the shooting is unknown at this stage. The police have opened a case of murder and attempted murder for investigation.' Police said efforts were under way to arrest the suspects. They appealed to anyone who might have information on the shooting to call their nearest police station or call crime stop on 08600 10111. TimesLIVE
News24
2 days ago
- News24
Centurion tavern shooting: Cops on the hunt for gunmen who killed five patrons
A group of armed suspects stormed a tavern in an Olievenhoutbosch informal settlement in Centurion on Friday night, leaving five people dead. Police spokesperson, Lieutenant Colonel Mavela Masondo, said three other people were injured. 'It is reported that the suspects came to a tavern and started shooting randomly, without saying a word,' Masondo said on Saturday. He said two of the five people killed were women. 'The motive for the shooting [is] unknown at this stage. The police have opened a case of murder and attempted murder for investigation. Police are on a lookout for the approximately ten suspects.' He urged anyone with information that could help in the investigation, or assist in apprehending the suspects, to contact their nearest police station, or call Crime Stop on 08600 10111.
Straits Times
6 days ago
- Business
- Straits Times
Centurion chases upside Down Under with premium student housing brand amid plans to list new Reit
Find out what's new on ST website and app. Epiisod Macquarie Park will be the first in a new line of student accommodations launched on July 15 by Centurion Corporation. SYDNEY – An infinity pool, sauna and even exclusive work opportunities. These are just some of the perks residents of an upcoming student accommodation development in Sydney can expect come early 2026. Epiisod Macquarie Park will be the first in a new line of student accommodations launched on July 15 by Singapore Exchange-listed Centurion Corporation, featuring upmarket, wellness-focused amenities. The launch of the new Epiisod brand is part of a wider effort by Centurion to accelerate earnings growth and free up capital for more investments, the company told Singapore reporters it hosted in Sydney on July 15. It comes after Centurion announced a new real estate investment trust (Reit) called Centurion Accommodation Reit, for which it had applied with regulators in June to list on the SGX mainboard. The company revealed in a July 14 bourse filing the properties it will divest as sponsor of the Reit, which is still pending listing approval from SGX and the Monetary Authority of Singapore. The new Reit will comprise 14 properties: five purpose-built worker accommodation assets in Singapore, eight purpose-built student accommodation assets in Britain, and one in Australia. That portfolio is valued at around $1.8 billion, but is expected to rise to $2.1 billion upon the deferred acquisition of Epiisod Macquarie Park, which is slated to join the Reit as the 15th property once ready for occupation. Top stories Swipe. Select. Stay informed. Singapore MBS' new development part of S'pore's broader, more ambitious transformation: PM Wong Business MAS records net profit of $19.7 billion, fuelled by investment gains Business Singapore financial sector growth doubles in 2024; assets managed cross $6 trillion in a first: MAS Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Singapore SJI International resumes overseas trips amid ongoing probe into student's death in Maldives in 2024 Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years Centurion chief executive Kong Chee Min described the Reit as a 'real asset-light strategy', as it allows the company to retain units in the Reit rather than directly owning the underlying properties. This, he added, enables capital recycling without having to resort to one-off property sales or equity fundraising that would be dilutive to Centurion's existing shareholders. Centurion plans to distribute some Reit units to shareholders as a dividend in specie on top of regular dividends after its 2026 annual general meeting, and aims to retain a 35 to 40 per cent stake in the Reit thereafter. Asked how Centurion decides which properties will go into the Reit, Mr Kong said: 'I would say, most of it, if it's suitable, we'll put into the Reit.' Centurion Accommodation Reit will also be able to acquire properties directly. The Reit's portfolio, meanwhile, is expected to consist largely of completed projects with a longer land tenure in developed markets, such as Australia, Singapore and the United Kingdom. As for the Reit's mix of student and worker accommodation assets, Mr Kong said both segments have long been part of Centurion's business and complement each other within the portfolio . Student accommodation is a very resilient market segment that tends to have much longer land tenures than property for housing workers, he added. Mr Kong added that Centurion will continue operating its existing student accommodation brand, Dwell, alongside Epiisod. Without disclosing figures, Mr Kong said Dwell would be priced around the market median for student accommodation, while Epiisod rooms would be positioned at a higher tier. There is no Dwell property in Sydney yet, but checks by The Straits Times show that a room costs around AU$400 (S$336) per person each week at Dwell Village Melbourne City. Moving forward, the company has no plans to focus on one brand over the other for student property. That said, Mr Kong added that the new projects Centurion is currently working on happen to be at sites that can be better developed as Epiisod properties. Meanwhile, any acquisitions will likely come under the mainstream Dwell brand, as it may not be feasible to refurbish existing buildings for an Epiisod offering, he added. Located steps from Macquarie University, Epiisod Macquarie Park will have 732 single rooms up for offer and available for registration from July 15 onwards. At least four more Epiisod properties are planned across Melbourne and Perth, with plans for the Reit to take ownership once they are developed. Centurion will also explore expanding to the Middle East and Europe, Mr Kong said. Centurion shares closed over 1.1 per cent higher, at $1.77 on July 15.
Business Times
6 days ago
- Business
- Business Times
Centurion launches premium brand in student housing for its upcoming Reit
[SYDNEY, Australia] Centurion Corporation has unveiled a premium brand for its latest purpose-built student accommodation (PBSA) property in Macquarie Park in Sydney. The rates at facilities in the Epiisod stable are likely to be higher than those for Centurion's current Dwell brand, which is targeted at the more budget-conscious market. The Macquarie Park property, for example, has amenities such as a rooftop infinity pool, wellness centre with sauna, ice pool and yoga facilities. It will have more than 700 beds in either studio apartments or cluster apartment formats, with shared communal spaces, including kitchen space. David Loh, executive director and joint chairman of Centurion, said at the launch event: 'Students need more than just a bed and a desk. They need space that inspires creativity, common areas that encourage collaboration, wellness facilities that support their physical and mental health, and technological infrastructure that keep them connected.' Epiisod will target a more adult audience among the student population, said Kong Chee Ming, chief executive of Centurion. Epiisod's rental reversions are likely to be higher than those at Dwell in absolute terms, but Kong noted that they would remain within the market range of 3 to 6 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Plans have been drawn up for another four Epiisod properties in Australia – two in Melbourne and another two in Perth; the ones in Perth will be developed as a joint venture between the parent company Centurion Properties and Centurion Corp. Centurion Corp is launching the Centurion Accommodation Reit without the full complement of Epiisod properties for a start because of limitations in taking in development projects. 'We select the assets based on the merits of what is suitable for the Reit,' said Kong. Epiisod is just starting out, and so will not be injected into the Reit just yet; Centurion will look into stabilising the properties before offering them to the Reit. Centurion assets that are not slated to be injected into the Reit are those in which the sponsor does not own the land rights, or those that are operating under special conditions, such as its ASPRI-Westlite Papan facility in Jurong, which houses workers in the process, construction and maintenance industries. Centurion's purpose-built worker accommodation (PBWA) assets across Malaysia are also not going to be injected into the Reit in the face of investors' concerns over exposure to Malaysia. The portfolio mix for PBSA in the Reit will still predominantly be under the Dwell brand, which has over 3,700 beds. The company is taking on more planning risks in Australia, for example with the Epiisod-branded Mckenzie property in Melbourne. Centurion plans to do more of this in Australia, said Kong. Finding the right location and site for purpose-built accommodations – be they for students or workers – is not easy, and regulatory risks need to be navigated. Kong cited a project for a PBWA property for miners in Port Hedland in Western Australia; the land was purchased, and the project seemed to be on track – only to be vetoed by a higher authority on the back of concerns over the dust from mining. 'Planning risk is real. Learning from that, we track carefully. If there are such issues, we tread a bit more carefully in where we put our money,' he said. Kong said Centurion's PBWA asset partners took a bit of convincing to agree to inject their assets into the Reit. However, he added that even if they refused, Centurion has the flexibility to continue operating the asset. 'Most of the JV partners would like to have an exit strategy for any real estate,' he said. With the Reit in play eventually, Centurion hopes to speed up its growth through capital recycling via divestment of suitable properties to the Reit, which would boost the growth of its assets under management. 'We are divesting to a Reit we control, and will be able to offload when we do development. This will scale up our growth,' said Kong.
Straits Times
14-07-2025
- Business
- Straits Times
Westlite dorm owner Centurion unveils $1.8b portfolio for new accommodation Reit to be listed on SGX
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE – Accommodation provider Centurion Corp unveiled on July 14 its $1.8 billion portfolio of a new real-estate investment trust which it had earlier applied to be listed on the Singapore Exchange mainboard. In a July 14 bourse filing, mainboard-listed Centurion, which owns and operates the Westlite group of workers' dormitories among other properties, named the Reit as Centurion Accommodation Reit. The new Reit comprises 14 properties: five purpose-built worker accommodation assets in Singapore, eight purpose-built student accommodation assets in the United Kingdom, and one in Australia. It will subsequently acquire one more student property, located in Sydney, Australia, when it is ready for occupation, bringing the total to 15. This property is estimated to be operational in 2026 and its acquisition will raise the portfolio value to $2.1 billion. The Reit will invest in a portfolio of income-producing real estate assets which are primarily used as purpose-built worker accommodation, student accommodation or other longer-stay purposes. Centurion will hold units of the Reit worth around $687 million and intends to disburse some of these units to its shareholder s in dividends after its next annual general meeting in 2026. Centurion called for a trading halt on July 14. Top stories Swipe. Select. Stay informed. Singapore Singapore to train more aviation and maritime officials from around the world Business Singapore's economy sees surprise expansion in Q2 despite US tariff uncertainty: Advance estimate Singapore Same person, but different S'porean Chinese names? How have such naming practices evolved? Singapore Jail for woman who opened bank accounts that received over $640m including scam proceeds Business From wellness zone to neurodivergent room: How companies are creating inviting, inclusive offices Singapore Swift action needed to stop vaping's slide from health risk to drug epidemic Singapore Govt will continue to support families, including growing group of seniors: PM Wong at PCF Family Day Singapore Art by Pathlight students to be displayed along Singapore River It had previously announced on June 10 its Reit listing application to SGX and the Monetary Authority of Singapore. The proposed listing is subject to SGX and MAS approval . Centurion Asset Management, which Centurion will wholly own, will be the Reit manager, while Perpetual (Asia) will be the trustee. In the latest announcement, Centurion also outlined various agreements it made to allow the Westlite Mandai, Westlite Juniper and Westlite Ubi dorms to be included in the Reit portfolio. Centurion will divest its 100 per cent interest in Westlite Toh Guan, 100 per cent interest in Westlite Woodlands and 51 per cent interest in Westlite Ubi to the Reit. Lian Beng Group will divest the remaining 49 per cent interest in Westlite Ubi to the Reit too. For Westlite Mandai, Lian Beng-Centurion (Dormitory) will surrender its existing lease to Lian Beng-Centurion (Mandai), which Centurion owns 45 per cent. In turn, Lian Beng-Centurion (Mandai) will grant a 32-year lease to the Reit, with an option to renew for 30 years. For Westlite Juniper, also located in Mandai, the Reit will be granted a 50-year lease. The Reit will also take over the existing tenancy agreements at Westlite Mandai and Westlite Juniper. The Centurion group will divest its 100 per cent stake in East End Adelaide in Australia to the Reit too. Centurion also said that based on a preliminary assessment of its unaudited consolidated management accounts for the half year ended 30 June 2025 and information currently available, it is expected to report a significant profit increase. This increase arises from fair value gain on the group's investment properties compared with the valuations on its books as at 31 December 2024, it said. Centurion's move comes amid a flurry of renewed investor interest in Reits buoyed by soaring property prices and a moderating interest rate environment, spurring large distribution yields. Centurion shares closed flat at $1.46 before the trading halt.
