It now has the dubious distinction of owning two of this year’s biggest losers in a stock index where more than two-thirds of the shares are up. The companies, Dairy Farm International Holdings and Jardine Cycle & Carriage, don’t have much in common besides their ownership–which would usually provide some protection against downswings, but not this year.
(May 21): Jardine Matheson Holdings, a 187-year-old conglomerate with more than US$42 billion ($57.8 billion) in sales, has been among Singapore’s steadiest stocks for years. Not so in 2019.
Bad luck first struck in January, when a flash-crash triggered by haphazard sell orders erased more than three-quarters of its value. That was a momentary blip, but the firm also faces more enduring problems.
