Jardine C&C expects significant impact from Covid-19; PT Astra's Q1 net income down 8%

Singapore

JARDINE Cycle & Carriage (JC&C) said on Monday after trading hours that the group experienced "challenging trading conditions" in the first quarter as conditions began to deteriorate across its market due to the outbreak of Covid-19.

In its interim management statement for the first quarter of 2020, the group said that the impact of the pandemic and the measures to contain it "increased significantly" in April, with lockdowns and social-distancing measures resulting in temporary closures across many of the group's businesses.