Kong Chee Min, CEO of Centurion, was awarded Best CEO for mid-cap companies at the 2024 Singapore Corporate Awards, having previously won the same title in 2016 for small-cap firms. Under his leadership, Centurion has navigated significant challenges, including the impact of Covid-19, which he describes as the company’s biggest hurdle.

During the pandemic, Centurion, a major provider of workers’ and students’ accommodation in Singapore, faced declining occupancy and increased costs. To adapt, Kong invested about S$2 million in safety measures, including technology and enhanced living conditions. Despite a net loss in 2020, the company’s core operations remained strong, achieving a profit of S$20.3 million.

Kong’s proactive approach led to management contracts with the government to operate additional dormitories, increasing Centurion’s capacity from 28,000 to 34,368 beds during the pandemic. The company has also expanded internationally, venturing into student accommodation markets in the US, UK, and Australia, with current assets totaling 66,495 beds across several countries.

In FY2023, Centurion’s revenue rose by 15% to S$207.2 million, with the workers’ segment contributing S$156.7 million. Kong emphasized a commitment to residents’ well-being, enhancing living conditions and fostering community through various programs.

As Centurion continues to pursue growth with an asset-light strategy, Kong aims to build on this momentum, believing that sustainable practices are key to the company’s future success. In the first half of FY2024, the company reported a 209% increase in net profit, showcasing its resilience and effective management.