Deep-dive 2021-16: Jardine Cycle & Carriage

A clean bet on the recovery of the Indonesian auto market

Jardine Cycle & Carriage (JCNC SP; “Jardine C&C”) is a holding company of the Jardine Matheson Group that focuses on consumer-related investments in Southeast Asia.

Most of Jardine C&C’s NAV comes from separately listed auto manufacturer and distributor Astra International (ASII IJ). Astra is the local partner of several Japanese auto brands in Indonesia…

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