Earlier, Jardine C&C itself has divested minority stakes in businesses in the region such as Vinamilk.
Elizabelle Pang of DBS Group Research has kept her "buy" call and $39.00 target price for Jardine Cycle & Carriage after news that it is exploring a sale of its Singapore and Malaysia car dealership business operated under the Cycle & Carriage brand.
This divestment is apparently in line with parent company Jardine Matheson's broader strategy of capital recycling, seen across its various other units including Hongkong Land and DFI Retail Group.
