Centurion looking to squeeze positive rent reversions, but might not find it in Malaysia

AFTER producing a blowout set of results for the first half of 2022 ended June, mainboard-listed Centurion Corporation would attempt to continue driving up performance by pushing positive rental rate reversions across its markets.

There is just one caveat: It won’t be so easy to attain for the specialised accommodation assets player’s worker accommodation business in Malaysia.

At a results briefing attended by reporters, analysts and investors on Friday (Aug 12), chief executive officer Kong Chee Min said a law change in Malaysia that kicked in on Jan 1 meant that each of its units had to be reconfigured to house fewer workers.