0203 GMT - Centurion Corp.'s lower projected 2026 earnings doesn't faze its bull at RHB Research. The Singapore property group spun off some assets into a new REIT, which removes these properties' contribution to the company's earnings, says analyst Alfie Yeo in a note. However, Centurion is likely to receive service income from managing the REIT's properties, which could yield higher gross and operating margins in 2026. Yeo expects Centurion to focus more on developing and buying properties with its cash from selling assets to the REIT. "We believe it could venture its acquisitions and property development projects into new markets including in the Middle East," he says. RHB Research cuts its target to S$1.85 from S$2.01 to reflect the lower earnings estimates, but retains its buy rating. Shares fall 2.1% to S$1.42. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
October 16, 2025 22:03 ET (02:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments