Centurion acquires 65% stake in Manna 777 to build new Kim Chuan dormitory

The $4.81m acquisition covers a 975.9 sqm freehold site for workers’ housing.

Centurion Corporation Limited (CCL), through its subsidiary Centurion Dormitory Venture (II) Pte. Ltd., acquired 650,000 shares, or 65%, of Manna 777 Properties Pte. Ltd. from ACKC Hesed Pte. Ltd. and Mulberry Land Pte. Ltd. for $4.81m, CCL said on 13 February.

The acquisition was based on the Manna 777's unaudited net asset value of $5.87m as at 31 January 2026. CCL also extended $1m to the Target Company, to be capitalised into additional shares after the acquisition.

Following the acquisition, CDV2PL entered into a joint venture with ACKC and Mulberry, which retain 24.5% and 10.5% stakes respectively.

The joint venture will develop and operate purpose-built workers’ accommodation on the Target Company’s freehold site at 7 Kim Chuan Lane, measuring 975.9 square metres (sqm), subject to regulatory approvals.

CCL said the acquisition is not expected to materially affect its consolidated net tangible assets or earnings per share for FY2026.

No directors or controlling shareholders have any direct or indirect interest in the transaction.

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