SINGAPORE (Nov 15): Centurion Corporation reported a 6% rise in 3Q16 earnings to $7.8 million on the back of workers and student accommodation business.

Revenue for the quarter increased 14% to $28.1 million, driven by workers accommodation assets in Singapore and the student accommodation business.

Westlite Woodland and ASPRI-Westlite Papan have both obtained their temporary occupation permits with average occupancy rate of 75% and 20% respectively. Centurion’s three other workers accommodation assets have obtained 95% average occupancy. The company’s student accommodation contributed $6.5 million in revenue for 3Q16, driven mainly by CSL Selegie and new accommodation assets in the UK, as well as positive rental revisions from assets in UK and Australia.

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