Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 18th June, personal computer parts and accessories play <a href="https://www.smartkarma.com/entities/pc-partner-group-ltd" target="_blank" data-smartkarma-citation="entities:8492:1" rel="noopener">PC Partner (1263 HK)</a> (PCP) announced a SGX listing was under consideration; and a <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0618/2024061800917.pdf" target="_blank" rel="noopener">possible withdrawal of the HKEx listing</a>.</li>
<li>PCP's<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0830/2024083002822.pdf" target="_blank" rel="noopener"> 30th August announcement</a> provided clarity on a step-by-step approach for the HKEx withdrawal. I recently held zooms with the SFC and SGX for added clarification.</li>
<li>PCP's exchange relocation is predicated on PCP's operational expansion into new markets, in particular, Southeast Asia. How and when the SGX becomes the preferred trading exchange  remains an unanswered question. </li>
</ul>


On the 18th June, personal computer parts and accessories play PC Partner (1263 HK) (PCP) announced a SGX listing was under consideration; and a possible withdrawal of the HKEx listing.
PCP's 30th August announcement provided clarity on a step-by-step approach for the HKEx withdrawal. I recently held zooms with the SFC and SGX for added clarification.
PCP's exchange relocation is predicated on PCP's operational expansion into new markets, in particular, Southeast Asia. How and when the SGX becomes the preferred trading exchange  remains an unanswered question. 


PC Partner (1263 HK): Goodbye Hong Kong; Hello Singapore

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Centurion Accommodation / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/centurion-accomodation-reit" target="_blank" data-smartkarma-citation="entities:45779:1" rel="noopener">Centurion Accomodation REIT (CAREIT SP)</a> (CAREIT) plans to raise around US$600m in its Singapore listing.</li>
<li>CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).</li>
<li>We have looked at the company's past performance in our previous note. In this note, we talk about valuations.</li>
</ul>



Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing.
CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).
We have looked at the company's past performance in our previous note. In this note, we talk about valuations.


Centurion Accomodation REIT IPO - Thoughts on Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/centurion-accomodation-reit" target="_blank" data-smartkarma-citation="entities:45779:1" rel="noopener">Centurion Accomodation REIT (CAREIT SP)</a> (CAREIT) plans to raise around US$600m in its Singapore listing.</li>
<li>CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).</li>
<li>In this note, we look at the REIT's portfolio and performance.</li>
</ul>



Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing.
CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).
In this note, we look at the REIT's portfolio and performance.


Centurion Accomodation REIT IPO - New Asset Class

<ul>
<li>Back on the 18th June, personal computer parts and accessories play <a href="https://www.smartkarma.com/entities/pc-partner-group-ltd" target="_blank" data-smartkarma-citation="entities:8492:1" rel="noopener">PC Partner (1263 HK) </a> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0618/2024061800917.pdf" target="_blank" rel="noopener">announced</a> a SGX listing was under consideration; and a possible withdrawal of the HKEx listing.</li>
<li>This development was discussed in <a href="https://skr.ma/HC3Sv" target="_blank" rel="noopener">PC Partner (1263 HK) Muses SGX Listing &amp; HKEx Withdrawal</a>.  PC Partner subsequently <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0624/2024062400546.pdf" target="_blank" rel="noopener">announced</a> a privatisation would not accompany any proposed withdrawal (should it happens).</li>
<li>My recent discussions with SFC confirms this is possible. And there was a recent precedent. But there may be caveats.</li>
</ul>


Back on the 18th June, personal computer parts and accessories play PC Partner (1263 HK)  announced a SGX listing was under consideration; and a possible withdrawal of the HKEx listing.
This development was discussed in PC Partner (1263 HK) Muses SGX Listing &amp; HKEx Withdrawal.  PC Partner subsequently announced a privatisation would not accompany any proposed withdrawal (should it happens).
My recent discussions with SFC confirms this is possible. And there was a recent precedent. But there may be caveats.


Further "SGX Listing & HKEx Withdrawal" Musings

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>Brookfield has acquired an 11-hectare former Ford site in Melbourne for an industrial estate development.</li><li>Blackstone has appointed Levine and Cutaia as co-heads of real estate following Meghji's departure.</li><li>Centurion plans to acquire a $53 million worker dormitory in Johor, boosting its capacity in Malaysia by 22%.</li></ul>

Brookfield has acquired an 11-hectare former Ford site in Melbourne for an industrial estate development.Blackstone has appointed Levine and Cutaia as co-heads of real estate following Meghji's departure.Centurion plans to acquire a $53 million worker dormitory in Johor, boosting its capacity in Malaysia by 22%.

Asia Real Estate Tracker (10-Sep-2026): Brookfield acquires 11-hectare Melbourne industrial site.

Singapore

Centurion Corporation Limited is a Singapore-based investment holding company that owns, develops, and manages specialized accommodation assets globally. It provides purpose-built worker accommodation under the "Westlite Accommodation" brand and purpose-built student accommodation under the "Dwell" and "EPIISOD" brands, alongside an optical storage media manufacturing business. The company was established in 1981 and is headquartered in Singapore.

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Centurion (CENT SP)

PC Partner (1263 HK): Goodbye Hong Kong; Hello Singapore

The exchange relocation is predicated on PCP's operational expansion into new markets, inotably, SE Asia. How and when the SGX becomes the...

David Blennerhassett

Centurion Accomodation REIT IPO - Thoughts on Valuation

Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing. In this note, we talk about valuations.

Sumeet Singh

Centurion Accomodation REIT IPO - New Asset Class

Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing. In this note, we talk about the REIT's...

Sumeet Singh

Further "SGX Listing & HKEx Withdrawal" Musings

IF a HK-listed company secures a dual-primary listing on a reputable bourse, an ordinary resolution can withdraw its HK listing. But, presuamably,...

David Blennerhassett

Asia Real Estate Tracker (10-Sep-2026): Brookfield acquires 11-hectare Melbourne industrial site.

Brookfield acquires a former Ford site in Melbourne for an industrial estate, while Blackstone promotes Levine and Cutaia; Centurion buys a $53M...

Asia Real Estate Tracker

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