Our History

Through the years, we have transformed into a multi-industry regional business group.

It all began in 1899 when the Federal Stores (later renamed Cycle & Carriage) was set up as a sundries shop in Kuala Lumpur, Malaysia. Selling everything from soap, screwdrivers to bicycles, and subsequently motor cars, the company expanded to Singapore in 1926, where it is still headquartered today.

Notwithstanding almost 120 years history including during times of adversity and conflicts, the company’s resilience was a case of deftly adapting to changes and holding fast to excellence, which remain its hallmark until this day.

Learn more about our history in 1899, The Cycle & Carriage Century.

Milestones

2017

  • Holds 25.5% in Siam City Cement.

  • Holds 25.1% in THACO.

2016

  • Holds 44.4% in Tunas Ridean.

  • Holds 22.9% in Refrigeration Electrical Engineering Corporation.

2015

  • Raised S$1.0 billion in a rights issue.

  • Acquired 24.9% interest in Siam City Cement, the second largest cement manufacturer in Thailand.

  • Holds 21.6% in Refrigeration Electrical Engineering Corporation.

2013

  • Holds 18% in Refrigeration Electrical Engineering Corporation.

  • Established 60% joint-venture, Cycle & Carriage Automobile Myanmar (CCAM).

2012

  • Acquired 10.24% interest in Refrigeration Electrical Engineering Corporation, a diversified Vietnamese business group.

2010

  • Holds 43.8% in Tunas Ridean.

2008

  • Holds 38.3% in Tunas Ridean.

  • Acquired 20.5% interest in Truong Hai Auto Corporation (THACO), a leading Vietnamese automotive company.

2006

  • Cycle & Carriage Singapore commenced distributing Citroën passenger cars and commercial vehicles in Singapore.

  • Cycle & Carriage Singapore opened the first Mercedes-Benz Center outside Europe.

2005

  • Holds 50.1% in Astra International; Astra International became a susidiary.

2004

  • Acquired 37.4% interest in Tunas Ridean, one of the largest automotive dealer groups in Indonesia.

  • Cycle & Carriage was renamed Jardine Cycle & Carriage following the integration into the Jardine Matheson Group in 2002. The name change recognises Cycle & Carriage’s distinguished 104-year operating history and firmly establishes Jardine Cycle & Carriage as part of the Jardine Matheson Group.

2003

  • Cycle & Carriage Bintang and Daimler Chrysler AG formed a joint venture company, Daimler Chrysler Malaysia Sdn Bhd (later renamed Mercedes-Benz Malaysia) to distribute Mercedes-Benz vehicles in Malaysia.

2002

  • Cycle & Carriage became a subsidiary of the Jardine Matheson Group when major shareholder, Jardine Strategic Holdings, increased its stake to over 50%.

2000

  • Cycle & Carriage commenced retailing Kia vehicles in Singapore.

  • Partnered Daimler Chrysler AG to become an exclusive dealer for Mercedes-Benz in Singapore.

  • Acquired 31% interest in P.T. Astra International Tbk, a leading diversified group in Indonesia.

1999

  • The Group celebrated its 100th anniversary.

1977

  • Cycle & Carriage Bintang was listed on the Kuala Lumpur Stock Exchange.

  • Cycle & Carriage commenced retailing Mitsubishi vehicles in Singapore.

1969

  • Cycle & Carriage was formed and listed on the Stock Exchange of Malaysia and Singapore.

1952

  • Awarded the Mercedes-Benz franchise.

1926

  • The Cycle & Carriage Company (1926) was incorporated as a public company in Singapore.

1918

  • Cycle & Carriage was registered as a private limited liability company in the Federated Malay States.

1899

  • The Chua brothers opened the Federal Stores in Kuala Lumpur. Cycle & Carriage was formed on 15th June.