The company, a member of the Jardine conglomerate, is described as a leading investment holding company with strategic exposure to Indonesia and Vietnam, anchored by JC&C’s 50.1% stake in Astra International, an Indonesian conglomerate spanning automotive manufacturing, components, and financial services.
DBS Group Research has initiated coverage on Jardine Cycle & Carriage with a "buy" call and $38.50 target price, given its two key growth engines driving the industrial development of Indonesia and Vietnam.
JC&C is a "compelling vehicle" for investors keen for some exposure to Indonesia mixed with greater regional diversification, states analysts Elizabelle Pang and Sachin Mittal in their Feb 23 note.
