Centurion disposes 2 worker accommodation assets in Malaysia for $65.1m

Malaysia’s public sector pension fund acquired the two assets.

SGX-listed Centurion Corporation has sold two worker accommodation assets to Malaysia’s public sector pension fund, Kumpulan Wnag Persaraan (KWAP), for $65.1m (RM 227m).

Upon completion of the sale of  Westlite Bukit Minyak and Westlite Tampoi, Centurion, through its subsidiaries, will enter into lease agreements with KWAP to lease back the two properties for 15 years. 

Westlite Bukit Minyak is a Purpose-Built Workers Accommodation (PBWA) on freehold land in Penang, comprising three accommodation blocks with a total bed capacity of 3,321 beds. 

Meanwhile, Westlite Tampoi is a PBWA in Johor sitting on freehold land, comprising six accommodation blocks with a total bed capacity of 5,790 beds.