Broker: Lim & Tan Securities
Date of Report: 27 April 2026

Excerpt from Lim & Tan Securities report.

Report Summary

• Centurion Corporation Limited
  Action: Accumulate
  Target Price: S\$1.90
  Key Idea: Centurion announced the acquisition of an operational key worker accommodation asset, Concorde South, in South Hedland, Western Australia. This is its second such asset in Western Australia after a recent acquisition in Karratha. The asset is expected to be earnings accretive upon completion, deepening Centurion’s specialised living sector footprint and diversifying geographical risks. Management showed confidence with recent insider share purchases. The stock offers further upside to the consensus target price and upcoming dividends, including a special distribution in CAREIT units (ex-entitlement 15 May 2026).
  Implication: The report recommends investors to “Accumulate” Centurion for its robust track record, earnings accretion from acquisitions, and attractive dividend distributions.
• Frasers Centrepoint Trust (FCT)
  Action: Accumulate on weakness
  Target Price: S\$2.60
  Key Idea: FCT reported strong 1HFY26 results with a distribution per unit of 6.136 cents, a 20%+ increase in revenue and net property income, and high committed occupancy of 99.8%. The trust maintains a healthy financial position, with a 5.3% dividend yield and positive rental reversions. The trust is expected to benefit from recent acquisitions and ongoing asset enhancement initiatives.
  Implication: Investors are advised to accumulate on weakness due to FCT’s solid fundamentals, strong yield, and growth prospects.

above is an excerpt from a report by Lim & Tan Securities. Clients of Lim & Tan Securities can be the first to access the full report from the Lim & Tan Securities website : https://www.limtan.com.sg