News

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The stepping down of Non-Executive Independent Director who is also Lead Independent Director, and member of Audit, Remuneration and Nominating Committees.

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Jardine Cycle & Carriage (“JC&C” or “the Group”) today issues its Interim Management Statement for the third quarter of 2021.

Overall, JC&C performed well in the third quarter. Astra’s quarter-on-quarter performance improved notwithstanding the continuing COVID-19 restrictions during the period. The performance of Direct Motor Interests was relatively stable during the period, while restrictions in Vietnam and Thailand impacted the quarter-on-quarter performance of the Group’s Other Strategic Interests.

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Highlights

• Net earnings per share up 84% (excluding gain on sale of investment in Permata Bank)
• Significant improvement in automotive, with car sales up 79% and motorcycle sales up 26%
• Higher commodity prices benefited the Group
• Strong balance sheet and funding position

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Jardine Cycle & Carriage has released its 2021 Half Year Results Presentation to Analysts.

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Highlights

• Underlying profit more than doubled to US$346 million
• Higher earnings from Astra, principally in its automotive businesses
• Improved profits from Direct Motor Interests in Singapore
• Other Strategic Interests stronger, led by a continued THACO recovery
• Interim dividend of US¢18 per share, up from US¢9 in 2020

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Highlights

• Net earnings per share 61% higher (before gain on sale of investment in Permata Bank in 2020), but still behind 2019 levels
• Strong improvement in the automotive business, with car sales up 50% and motorcycle sales up 29%
• Businesses of Astra group ("the Group") benefited from higher commodity prices
• Strong balance sheet and funding position

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JC&C is pleased to announce that during the period of the Offer, it has acquired via market purchases and verified acceptances under the Offer, 29, 149, 153 shares in CCB for an aggregate cash consideration of approximately RM70.0 million (approximately USD 17.0 million) (the "Acquisitions"). As at today, the closing market price of a CCB share on Bursa Securities was RM2.40. As a result of the Acquisitions, JC&C's shareholding in CCB has increased from 59.1% to 88.0%. 

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JC&C has published its Sustainability Report 2020. The report is available for download here. 

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Jardine Cycle & Carriage ("JC&C" or "the Group") today issues its Interim Management Statement for the first quarter of 2021.

The Group continued to operate in challenging conditions for the first three months of 2021 due to the ongoing impact from the COVID-19 pandemic. Most of the Group's operations, particularly those in Indonesia, saw lower performance compared to the same period last year.

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Jardine Cycle & Carriage Limited ("JC&C") would like to thank shareholders and the Securities Investors Association of Singapore (SIAS) for submitting their questions in advance of our 52nd Annual General Meeting to be held by electronic means at 11.30 a.m. on 27 April 2021 (the "AGM").

Please see below for our responses to substantial questions which are relevant to the resolutions being tabled for approval at the AGM. Questions which overlap or are related to the same theme are addressed in the same response.

We are providing answers to questions received to date so that shareholders will have some time to consider the answers before they submit their votes via the proxy forms.

Highlights

• Net earnings per share down 22%
• Car sales down 24% and motorcycle sales down 17%
• Higher Komatsu heavy equipment sales, partly offset by lower mining contracting volumes
• Lower crude palm oil and derivative product sales
• Strong balance sheet and funding position

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Jardine Cycle & Carriage has released the following documents: 

1. Notice of Annual General Meeting
2. AGM Proxy Form

These documents are also available on the 'AGM 2021' page under the 'Investors' section on the Company's website at the URL https://www.jcclgroup.com/.

Jardine Cycle & Carriage has published its Annual Report 2020, Letter to Shareholders dated 29 March 2021.

These documents are also available on the 'AGM 2021' page under the 'Investors' section on the Company's website at the URL https://www.jcclgroup.com/.

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Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that it has submitted a notice of unconditional voluntary take-over offer ("Offer") to the board of directors of Cycle & Carriage Bintang Berhad ("CCB"). 

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Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that its dormant wholly-owned subsidiary, CCL Indo-China Investments Pte Ltd ("CCLIC") incorporated in Singapore has been struck off from the register of companies pursuant to Section 344A of the Companies Act (Chapter 50 of Singapore).

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Jardine Cycle & Carriage has released its 2020 Full Year Results Presentation to Analysts. The recorded audio webcast can be accessed here.

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Highlights

• Underlying profit 50% lower at US$429 million
• Significantly weaker performances from Astra’s automotive, financial services and heavy equipment and mining operations
• Direct Motor Interests performance affected by lower profitability in Cycle & Carriage Singapore and Tunas Ridean
• Other Strategic Interests performance relatively stable
• Proposed final dividend of US¢34 per share, total dividend of US¢43 per share for the year, 51% lower than 2019

Highlights

• Net earnings per share down 53% (before the gain on sale of investment in Permata Bank)
• Car sales down 50% with a slight decline in market share, while motorcycle sales down 41% with increased market share
• Increased loan loss provisions in the financial services business
• Lower coal prices impacted heavy equipment sales and mining contracting volumes
• Agribusiness benefited from higher crude palm oil prices
• Strong balance sheet and funding position

Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that its dormant wholly-owned subsidiary,Cycle & Carriage Pte. Limited ("CCPL") incorporated in Singapore has been struck off from the register ofcompanies pursuant to Section 344A of the Companies Act (Chapter 50 of Singapore).

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Jardine Cycle & Carriage ("JC&C" or "the Group") today issues its Interim Management Statement for the third quarter of 2020.

In the first nine months of 2020, the Group's businesses were all impacted by the COVID-19 pandemic. Trading conditions were challenging, as both business and consumer sentiment were affected by the pandemic and the measures taken to control it. The Group's performance continues to be affected by these conditions, although there was some improvement in a number of the Group's businesses in the third quarter compared to the second quarter. 

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The stepping down of Non-Executive Non-Independent Director who is also Audit Committee Member

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Highlights

• Net earnings per share down 49% (before gain on sale of investment in Permata Bank) 
• Car sales down by 51%, while motorcycle sales fell by 38%
• Increased loan loss provisions in Financial Services
• Lower coal prices impact heavy equipment sales and mining contracting volumes
• Agribusiness benefits from higher crude palm oil prices
• Strong balance sheet

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Jardine Cycle & Carriage has released its 2019 Full Year Results Presentation to Analysts. The recorded audio webcast can be accessed at this here.

The Non-Executive Independent Director will be appointed on 1 January 2021. Refer to the attached announcement to read more.

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Highlights

• Underlying profit 66% lower at US$138 million
• Significantly weaker performances from Astra's automotive, financial services and heavy equipment and mining operations
• Direct Motor Interests down due to the temporary closure of automotive operations
• Other Strategic Interests impacted by Thaco's weaker performance and the timing of Vinamilk's interim dividend
• Interim dividend at US¢9 per share, 50% lower than 2019

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Highlights

• Net earnings per share down 44% (before gain on sale of investment in Permata Bank)
• Car sales down 45% and motorcycle sales down 40%
• Lower coal prices impact heavy equipment sales and mining contracting volumes
• Agribusiness benefits from higher crude palm oil prices
• Interest in Permata Bank sold resulting in proceeds of Rp16.8 trillion
• Strong balance sheet

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These are the minutes of the Adjourned 51st Annual General Meeting ("Meeting") of Jardine Cycle & Carriage Limited ("JC&C" or the "Company") held by way of electronic means on Friday, 22nd May 2020 at 11:30 am.

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Through an innovative team effort, Jardine Cycle & Carriage ("JC&C") and Cycle & Carriage Singapore ("CCS"), jointly raised S$83,000 for REACH Community Services Society. Donations will be channeled to REACH Community Services' 'Be our Beacon of Hope' fund, which supports over 4,000 beneficiaries whose lives have been impacted by COVID-19.

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The Board of Directors of Jardine Cycle & Carriage Limited wishes to announce the appointment of new lead independent director and composition of board committees. All appointments are effective from the conclusion of the Adjourned Annual General Meeting.

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The stepping down of Non-Executive Independent Director who is also Lead Independent Director, Remuneration Committee Chairman and member of Audit Committee and Nominating Committee.

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Jardine Cycle & Carriage wishes to inform that Astra has announced that it has on 20 May 2020, signed a deed of acquisition (the "Deed of Acquisition") with SCB and the Purchaser relating to the completion of the sale of all shares respectively owned by Astra and SCB in Bank Permata to the Purchaser, and that by the signing of the Deed of Acquisition and the transfer of the Sale Shares, Astra has completed the sale of the Sale Shares to the Purchaser (the "Disposal"). Following the Disposal, the JC&C Group ceases to have any shares in Bank Permata.

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Jardine Cycle & Carriage Limited ("JC&C") would like to thank shareholders for submitting their questions in advance of our adjourned 51st Annual General Meeting (the "Adjourned AGM") to be held by electronic means at 11.30 a.m. on 22 May 2020.

Please see the attached announcement for our full responses to substantial questions which are relevant to the resolutions being tabled for approval at the Adjourned AGM. Questions which overlap or are related to the same theme are addressed in the same response.

The Jardine Cycle & Carriage Sustainability Report 2019 is available for download at the JC&C website: www/jcclgroup.com/sustainability/overview.

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NOTICE IS HEREBY GIVEN that the adjourned 51st Annual General Meeting of the Company (the "Adjourned AGM") will be convened and held by way of electronic means on Friday, 22 May 2020 at 11.30 a.m. (Singapore time) to transact the business set out in the Company's Notice of Annual General Meeting dated 3 April 2020 (the "Notice of AGM").

Printed copies of the Notice of AGM were previously sent to shareholders on 3 April 2020. The Notice of AGM may be accessed at the AGM 2020 page of the Company’s website at the URL https://www.jcclgroup.com/investor-relations/agm-2020/ by clicking on the hyperlink "Notice of AGM dated 3 April 2020". The Notice of AGM is also available on the SGX website at the URL https://www.sgx.com/securities/company-announcements.

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Highlights

• Net earnings per share down 8%
• Car sales down 3% and motorcycle sales down 5% but market shares increase
• Lower coal prices impact heavy equipment sales and mining contracting volumes
• Agribusiness benefits from higher crude palm oil prices

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Jardine Cycle & Carriage ("JC&C") today issues its Interim Management Statement for first quarter of 2020.

The Group experienced challenging trading conditions in the first quarter as conditions began to deteriorate across its markets due to the spreading COVID-19 pandemic. The impact of COVID-19 and the measures to contain it on the Group's businesses have increased significantly in April, with effective lockdowns and social distancing measures resulting in temporary closures of many of the Group's businesses.

Both business and consumer sentiment are expected to remain weak for some time and the Group's performance in the current period will be significantly impacted.

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Jardine Cycle & Carriage Limited refers to its announcement dated 12 December 2019 in relation to PT Astra International Tbk's ("Astra") entry into of a conditional share purchase agreement with Standard Chartered Bank ("SCB") and Bangkok Bank Public Company Limited ("Purchaser") for the sale of shares owned respectively by each of Astra and SCB in PT Bank Permata TBK to the Purchaser.

All capitalised terms used and not otherwise defined herein shall have the same meanings ascribed to them in the 12 Dec Announcement.

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In view of the heightened safe distancing measures announced on 3 April 2020, Jardine Cycle & Carriage's Annual General Meeting originally scheduled for 24 April 2020 has to be deferred to a future date. Please see attached AGM Deferment Notice for further details.

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Jardine Cycle & Carriage has published its Annual Report 2019, Letter to Shareholders dated 3 April 2020 and related forms.

The Annual Report 2019 and Letter of Shareholders are also available at JC&C’s corporate website at https://www.jcclgroup.com/investor-relations/annual-reports/.

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Due to the COVID-19 situation, shareholders should refrain from attending the AGM in person, and refrain from sending another person as proxy or representative to attend the AGM. The Company is required to fully comply with prevailing safe distancing measures imposed by the government, including limiting the number of persons at the AGM.

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Jardine Cycle & Carriage has released its 2019 Full Year Results Presentation to Analysts. The recorded audio webcast can be accessed at this here.

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Highlights

• Underlying profit at US$863 million
• Stable performance from Astra
• Direct Motor Interests down due to Singapore and Malaysia
• Other Strategic Interests impacted by Thaco's lower automotive profits

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Highlights

• Net earnings per share stable at Rp536
• Motorcycle sales up 3% but car sales down 8%, both with increased market shares
• Higher earnings contribution from financial services and gold mining operation
• Heavy equipment, coal mining and agribusiness activities impacted by lower commodity prices

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Jardine Cycle & Carriage Limited refers to its announcement dated 11 November 2019 and 14 January 2020. All capitalized terms used and not otherwise defined herein shall have the same meanings ascribed to them in the Previous Announcements. Further to the Previous Announcements, JC&C wishes to inform that the special resolution relating to the SCR Exercise was voted on at Cycle & Carriage Bintang Berhad's extraordinary general meeting held today and was not passed. As a result, the SCR Exercise will not proceed.

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Jardine Cycle & Carriage Limited wishes to announce that its wholly-owned subsidiary, Platinum Victory Pte. Ltd. ("PVPL"), has purchased 17,250 shares in Refrigeration Electrical Engineering Corporation ("REE") for an aggregate cash consideration of approximately USD0.03 million. As a result of the purchase, PVPL's shareholding in REE has increased from 29.008% to 29.014%.

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The notice of extraordinary general meeting of CCB and a circular to its shareholders in relation to the SCR Exercise (the "Circular").

CCB's extraordinary general meeting will be held on 11 February 2020 at 11.00a.m. for the purpose of seeking the approval of the CCB Entitled Shareholders for the SCR Exercise.

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