Jardine Cycle & Carriage (Jardine C&C), another Singapore-listed unit of the Jardine family, in contrast, has gained less than a third and from the perspective of DBS Group Research, this counter deserves some attention from investors too, as it follows Hongkong Land and DFI in conducting a thorough review by 1HFY2026 of its broader direction ahead, with five-year total shareholder return as the key performance metric. “We see this as a meaningful re-rating catalyst, potentially translating into sustained share buybacks, higher dividend payouts and selective asset recycling,” state DBS analysts Elizabelle Pang and Sachin Mittal, who are initiating coverage on this counter with a “buy” call and $38.50 target price.
For the better part of the last year or so, Hongkong Land Holdings and DFI Retail Group have been the two key members of the Jardine group of companies to be in the news. The former embarked on a clear asset monetisation strategy, and the latter was almost ruthlessly disposing of stakes in various associate companies and returning the proceeds to shareholders.
Investors have shown their appreciation by rewarding these two Singapore-listed counters with share price gains that have both nearly doubled in the past year. Jardine Matheson, the parent company, has also recorded gains of more than 90% in the same period, as analysts flag that it will collect a larger quantum of dividends from its various listed units and can, in turn, pay its shareholders.
