Is Jardine C&C likely to be taken private?
Most of its value resides in Jakarta-listed Astra International, while its own parent has secondary listing in Singapore
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[SINGAPORE] Some market watchers might have been left scratching their heads the past week following a news report that Jardine Cycle & Carriage is exploring the sale of its car dealerships in Singapore and Malaysia.
While these businesses contributed less than 5 per cent to the group’s underlying profit attributable to shareholders last year, they are closely tied to its identity and corporate profile.
Besides Singapore and Malaysia, Jardine C&C is also a big player in Indonesia’s automotive industry through its 50.1 per cent stake in Astra International, and its 49.9 per cent interest in Tunas Ridean.
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