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They should have sold the Excelsior to SHK at a great price when they had the chance pre-COVID. They left a lot of money on the table there. Alibaba was able to pick it up on the cheap.
Jardines has survived wars and market collapses. Can it survive the digital age?
For investors, a flood of rumours over the sale of assets &ndash including properties, fast-food chains and car dealerships &ndash can be disconcerting
[SINGAPORE] With a history spanning nearly two centuries tracing back to its roots as an opium trading house, Jardine Matheson : J36 -2.13% has survived empires, wars and market collapses.
But can a venerable hong whose history predates the modern corporate era survive the digital economy and fast-moving technological disruption?
Over the decades, Jardines has diversified into industries such as retail, motor vehicles, real estate and financial services. And it is currently undergoing a structural overhaul, shifting away from its traditional owner-operator model to become a return-focused investment company.
But even as the group navigates a complex transformation, the market has not taken too kindly to recent news about its acquisitions and divestments.
This is understandable. For investors, a flood of rumours over the sale of assets &ndash including properties, fast-food chains and car dealerships &ndash can be disconcerting.
In Singapore, the stock is underperforming the benchmark Straits Times Index (STI) year to date and trading at a staggering 34 per cent discount to its book value.
So far this year, Jardine Matheson&rsquo s share price has fallen 5.4 per cent. In comparison, the STI is up 10.5 per cent.
But the market could be missing the point: Jardine Matheson desperately needs this pivot.
Assets up for sale
Jardine Matheson executive chairman Ben Keswick has led a sweeping effort to simplify the company&rsquo s holdings. And chief executive officer Lincoln Pan, who joined in December 2025 from alternative investment firm PAG, is actively building a dedicated investment team to steer the group in this new direction.
Of course, this strategic shift requires serious cash. And to this end, Jardines has been busy recycling capital. The market is awash with rumours of further asset sales after the group proposed or completed at least US$10.5 billion in deals over the past year.
To the casual observer, it might appear that even the family silver is on the table.
The group&rsquo s Mandarin Oriental International is said to be weighing the sale of the remainder of its One Causeway Bay office tower in Hong Kong. This comes after it sold 13 floors of the building to Alibaba Group Holding and Ant Group for US$925 million last year.
Another potential target for divestment is Zung Fu, the group&rsquo s Mercedes-Benz dealership covering Hong Kong and Macau.
Closer to home, Jardine Cycle & Carriage : C07 -0.83% is also rumoured to be exploring the sale of its Mercedes-Benz dealerships in Singapore and Malaysia.
Meanwhile, Jardines&rsquo restaurant unit has reportedly been seeking to sell its KFC and Pizza Hut chains in Asian markets, including Hong Kong and Taiwan. This has attracted bidders such as Carlyle Group and Yum China Holdings.
To streamline operations further, the parent company cut its corporate overhead by roughly 15 per cent compared with that in 2024.
Pivot to the future
Where is the freed-up capital going? Jardines wants to expand into developed Asia-Pacific markets. It targets markets such as Australia and Japan to reduce its heavy exposure to geopolitical and volatility risks in South-east Asia and China.
This strategy materialised with its push into Australian healthcare. Jardines agreed to buy I-MED Radiology Network from private equity firm Permira for an enterprise value of A$3.4 billion (S$3.1 billion). I-MED operates 215 diagnostic imaging clinics across Australia and New Zealand, performing more than seven million patient procedures a year.
This healthcare push offers something Jardines has noticeably lacked: a modern technology narrative.
The acquisition includes a minority interest in Harrison.ai, a firm developing radiology artificial intelligence solutions. For a conglomerate historically reliant on heavy industries, retail and real estate, this AI-adjacent investment is a welcome update.
Despite these proactive steps, the stock remains sluggish.
While the announcement of the Mandarin Oriental privatisation and the initiation of a US$250 million share buyback programme provided a lift to the stock last year, the momentum failed to hold.
To be fair, conglomerate discounts are common in capital markets.
Investors prefer to allocate capital themselves. If an institution wants exposure to Indonesian consumers, it can buy Astra directly. If a fund wants prime Hong Kong office space, Hongkong Land : H78 -0.54% is available on the open market.
Yet, dismissing the holding company ignores a crucial long-term trend. Over the past decade, Jardine Matheson has actually outperformed most of its underlying listed holdings, with the exception of Hongkong Land.
This outperformance stems from management&rsquo s ability to create value through disciplined portfolio management and capital recycling.
Furthermore, the parent company offers significantly stronger liquidity and a free float of roughly 80 per cent. This easily dwarfs the liquidity of subsidiaries such as Jardine Cycle & Carriage, Astra or DFI Retail : D01 +0.51%.
Still, we are in an era where capital aggressively chases pure-play technology and digital infrastructure. A case in point is the impending mega initial public offerings featuring Anthropic and OpenAI.
In this light, the caution from the market on a player that relies heavily on the slow compounding of traditional physical assets could be justified.
For now, patient, income-seeking investors might view the discount as a bargain. The current valuation is undemanding and offers a decent dividend yield of 3.6 per cent.
The management is expected to provide greater clarity on the group&rsquo s capital-allocation priorities, investment criteria, financial targets and medium-term total shareholder return framework on Jun 16, when it hosts its inaugural Investor Day in Hong Kong.
The group is likely making the right strategic moves. Now, it just needs to convince investors it can execute this pivot effectively.
I read that Jardine have announced they are pivoting towards developed Asia. Aside from their HK/China home base that includes Singapore, Japan, South Korea and Aus/NZ.
Indonesia is not " developed Asia" , so could Jardine be more of a seller than a buyer here?
Indonesia is not " developed Asia" , so could Jardine be more of a seller than a buyer here?
Jardine Matheson acquiring I-MED Radiology Network for A$3.4 billion
Deal will be funded through existing cash and debt
[SINGAPORE] Jardine Matheson Holdings (JMH) : J36 0% on Monday (May 25) said that it is acquiring Australia-based diagnostic imaging and teleradiology player I-MED Radiology Network for A$3.4 billion (S$3.1 billion).
The company said I-MED is a leader in the diagnostic imaging space, based in an &ldquo attractive developed Asia-Pacific market with strong structural growth prospects and defensive industry characteristics&rdquo .
The deal includes I-MED&rsquo s minority interest in Harrison.ai, which develops radiology artificial intelligence solutions, including CT brain and chest scans.
&ldquo JMH&rsquo s patient capital will support investment to scale the business and explore new markets, maintaining high levels of growth in the medium term,&rdquo the company said in a bourse filing.
JMH noted an attractive valuation of the deal, at about 11.5 times forecast adjusted earnings before interest, taxes, depreciation and amortisation for the 12 months ending June for the core business &ndash excluding the stake in Harrison.ai &ndash and that it is expected to generate returns above targets, under Jardine&rsquo s capital allocation framework.
The transaction will be funded through a combination of Jardine&rsquo s existing cash resources and debt facilities. It is subject to customary closing conditions including regulatory approvals, and is expected to complete later in 2026.
I-MED operates a network of 215 diagnostic imaging clinics across metropolitan and regional communities in Australia and New Zealand. It also performs over seven million patient procedures a year in clinics.
not in the foreseeable future.
not unless someone offers 100 bucks a share will Jardine release their star business.
not unless someone offers 100 bucks a share will Jardine release their star business.
Joelton ( Date: 18-May-2026 10:53) Posted:
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If Jardine C& C is trading at above sum of parts it would seem to make more sense for the companies below it to be consolidated, rather than Jardine C& C itself.
Is Jardine C& C likely to be taken private?
Most of its value resides in Jakarta-listed Astra International, while its own parent has secondary listing in Singapore
[SINGAPORE] Some market watchers might have been left scratching their heads the past week following a news report that Jardine Cycle & Carriage is exploring the sale of its car dealerships in Singapore and Malaysia.
While these businesses contributed less than 5 per cent to the group&rsquo s underlying profit attributable to shareholders last year, they are closely tied to its identity and corporate profile.
Besides Singapore and Malaysia, Jardine C& C is also a big player in Indonesia&rsquo s automotive industry through its 50.1 per cent stake in Astra International, and its 49.9 per cent interest in Tunas Ridean.
In addition, the group has significant exposure to Vietnam&rsquo s automotive sector through its 26.7 per cent stake in Truong Hai Group Corporation (Thaco).
More to the point, the group&rsquo s automotive businesses in Singapore and Malaysia have performed well over the past couple of years.
They contributed US$47.9 million to the group&rsquo s underlying profit attributable to shareholders in 2025, up from US$32.2 million in 2024 and US$28.6 million in 2023.
The group attributed the segment&rsquo s stronger performance in 2025 to a 74 per cent increase in commercial vehicle sales in Singapore, supported by the delivery of electric buses under tender projects.
It added that used car sales and aftersale throughput volume had increased during the year, while new passenger car sales had been flat.
Jardine C& C&rsquo s total underlying profit attributable to shareholders in 2025 came in at US$1.11 billion, up 0.7 per cent from US$1.1billion in 2024.
The sale of the group&rsquo s automotive businesses in Singapore and Malaysia &ndash if it materialises &ndash may also lead to some market watchers asking whether Jardine C& C serves any useful purpose as a public-listed company.
As it is, the bulk of the group&rsquo s value resides under Astra, a separately listed company in Jakarta.
Jardine C& C is itself 85.5 per cent owned by Jardine Matheson &ndash which has a secondary listing in Singapore, and is a constituent of the Straits Times Index.
If Jardine C& C were to sell its legacy Singapore and Malaysia automotive businesses, would it make sense for Jardine Matheson to eventually take it private in order to eliminate a layer of corporate costs?
Could the sale of the Singapore and Malaysia units mark the beginning of a broader rationalisation of the group&rsquo s automotive businesses?
What does all of this mean for investors?
Growing EV competition
Despite the recent strong performance of Jardine C& C&rsquo s automotive businesses in Singapore and Malaysia, the surging popularity of Chinese electric vehicles (EVs) versus traditional internal combustion engine (ICE) vehicles could pose a longer term challenge.
Indeed, it may be a matter of time before Jardine C& C will have to respond to the impact of Chinese EVs in its other key markets too.
At its annual general meeting (AGM) on Apr 30, a shareholder asked how Astra is coping with competition from Chinese EVs in Indonesia. The company&rsquo s group finance director Freddy Lee &ndash who assumed the role of CEO the following day &ndash said Astra is working closely with its principal partners to expand its portfolio.
Lee went on to say that EVs currently represent 10 to 15 per cent of the Indonesian market, leaving a substantial market for hybrid and ICE vehicles where Astra remains dominant.
He added that Astra&rsquo s end-to-end ecosystem of manufacturing, distribution, retail, aftersales, financial services, insurance and used cars reinforces its competitive position in the automotive sector.
Astra had previously said it will announce the outcome of a strategic review this quarter.
Disclosing a credible plan to adapt to the rapidly shifting dynamics of the automobile industry as part of that review could help maintain investor interest in Astra as well as Jardine C& C, in my view.
Actively managed portfolio
One reason for optimism is that Jardine C& C has actively adjusted its portfolio over time to drive returns.
For instance, Astra spent US$207 million last year to acquire Mega Manunggal Property, one of the largest industrial and logistics property developers in Indonesia.
The group also invested US$56 million to raise its stake in the &ldquo Halodoc&rdquo digital healthcare platform, and US$211 million to increase its interest in the Medikaloka Hermina hospital group.
Through United Tractors, Astra also acquired a gold mine in North Sulawesi last year for US$540 million.
Jardine C& C spent US$4 million last year increasing its stake in Refrigeration Electrical Engineering Corporation (REE) from 41.4 per cent to 41.7 per cent.
The Ho Chi Minh-listed company holds interests in power, utilities, real estate, as well as mechanical and electrical engineering.
On the other hand, Jardine C& C divested its entire 25.5 per cent stake in Siam City Cement back in August 2024 for US$344 million. In December 2025 and February 2026, the group sold down its stake in Vinamilk from 10.6 per cent to 2.5 per cent for US$416 million.
When asked by a shareholder during the AGM about these divestments, Lee said the assets had paid dividends but their overall returns did not clear Jardine C& C&rsquo s cost of capital. A key lesson the group learned, he added, was that it is important to have significant influence over its key investments.
Take-private offer?
This brings me to the question of whether Jardine C& C is likely to be taken private.
Despite most of its earnings coming from Astra, the group does not suffer from a holding company discount.
On the contrary, based on the respective financial numbers for 2025, Jardine C& C is trading at 9.1 times its underlying earnings and 1.2 times book value, while Astra is trading at 7.1 times earnings and just marginally above its book value.
Based on the dividends for 2025, Jardine C& C is trading at a yield of 4.4 per cent while Astra is trading at 6.8 per cent.
Interestingly, Jardine C& C also appointed former OCBC CEO Samuel Tsien as its first independent chairman in November last year. Tsien first joined Jardine C& C&rsquo s board in October 2021, and has served as its lead independent director.
These factors seem to put Jardine C& C in a good position to remain listed, and garner a healthy investor following.
Yet, from the perspective of its parent, it is hard to see how Jardine C& C&rsquo s continued listing makes sense, especially if it sells its Singapore and Malaysia automotive businesses.
Jardine Matheson manages its portfolio in much the same way as Jardine C& C, and having full ownership of its stakes in Astra, Thaco and REE could be more efficient.
Many public investors may also prefer the broader business and geographical exposure that Jardine Matheson offers compared to Jardine C& C.
Indeed, Jardine Matheson is trading at a somewhat stronger valuation than Jardine C& C right now &ndash which could support a share-based offer. Based on its 2025 financial numbers, Jardine Matheson&rsquo s shares are trading at 12.8 times underlying earnings, and a dividend yield of 3.2 per cent.
In my view, a take-private offer for Jardine C& C looks like a distinct possibility.
Yes there was bad news. Both Astra and Cycle and Carriage had weaker 1Q26 earnings. Outlook also described as uncertain.
Why Jardine C&C is tumbling down non stop lately? Any bad news?
Why is CEO leaving? any reason given? Seems unplanned.
Jardine Cycle & Carriage H2 profit up 36% at US$626.7 million declares dividend of US$0.85
Revenue, however, drops 9% from US$11.6 billion to US$10.6 billion
[SINGAPORE] Jardine Cycle & Carriage (JC& C) posted earnings of US$626.7 million for H2 FY2025, a 36 per cent increase from US$462.5 million the year prior.
The company on Friday (Feb 27) reported a half-year revenue of US$10.6 billion, down 9 per cent from US$11.6 billion previously.
For the full-year, revenue came in at US$21.4 billion, 4 per cent lower than US$22.3 billion in the previous corresponding period.
Earnings rose 5 per cent to US$997.8 million from US$945.8 million in FY2024.
JC& C attributed the increase in full-year profit to improvements in Vietnam and Singapore businesses, as well as foreign exchange gains and lower financing costs at the corporate level, which helped offset a lower contribution from its Indonesian operations.
Astra contributed US$927 million to the group&rsquo s underlying profit for the full year, 7 per cent lower than the previous year. This reflected the impact of a weaker Indonesian rupiah and &ldquo weaker performances&rdquo from its mining services, coal mining operations and new car sales, the group stated.
Its direct motor interests through Tunas Ridean in Indonesia saw its contribution fall 46 per cent to US$18 million, mainly due to lower profits from consumer finance and automotive operations.
Contributions from the group&rsquo s Vietnam businesses rose 25 per cent to US$129 million. This was driven by a 39 per cent rise in earnings from Truong Hai Group Corporation (Thaco) to US$55 million, and a 39 per cent increase from Refrigeration Electrical Engineering Corporation (REE) to US$41 million. Earnings from Cycle & Carriage in Singapore and Malaysia also jumped 49 per cent to US$48 million.
Earnings per share for H2 FY2025 was at US$1.58, up from US$1.17 the year prior. For the full year, earnings per share was US$2.52, up from US$2.39 previously.
The board has proposed a final one-tier tax-exempt dividend of US$0.85 per share for the year, up from US$0.84 per share in 2024.
The dividend will be paid on Jun 12.
As for the group&rsquo s consolidated net debt position, the amount, excluding the net borrowings within Astra&rsquo s financial services subsidiaries, improved to US$44 million as at end-2025, from US$235 million at the end of 2024.
The group attributed the improvement to the divestment of a 4.6 per cent interest in Vinamilk for US$228 million in December, in line with its strategy to build a &ldquo focused portfolio&rdquo that enhances shareholder value.
Net debt within Astra&rsquo s financial services subsidiaries rose from US$3.7 billion at the end of 2024 to US$3.9 billion. JC& C corporate net debt was US$577 million, down from US$816 million at the end of 2024.
The company expects the year ahead in Indonesia to be challenging, though consumer sentiment in the country may see a moderate recovery. JC& C expects Vietnam to continue to grow and Singapore to deliver resilient earnings.
Samuel Tsien, chairman of JC& C, said: &ldquo Notwithstanding the near-term outlook, we remain focused on our longer-term objective of building a portfolio aimed at creating sustainable value and delivering strong total shareholder returns.&rdquo
Jardine Cycle & Carriage H2 profit up 36% at US$626.7 million declares dividend of US$0.85
Revenue, however, drops 9% from US$11.6 billion to US$10.6 billion.
Last:35.1 
+0.6
gold at ATH, Jardine will be a beneficiary of the gold rush
+0.6gold at ATH, Jardine will be a beneficiary of the gold rush
ozone2002 ( Date: 23-Sep-2025 13:55) Posted:
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DBS initiates coverage on Jardine C& C with &lsquo buy&rsquo on &lsquo strategic exposure&rsquo to Vietnam, Indonesia
Astra International, which is 50.1% owned by the group, is expected to post consensus-beating earnings for FY2026, says DBS
[SINGAPORE] DBS has initiated coverage on Jardine Cycle & Carriage (C& C) : C07 +0.88% with a &ldquo buy&rdquo call, on the basis of its &ldquo strategic exposure&rdquo to Indonesia and Vietnam, the &ldquo dual Asean growth engines&rdquo .
The bank on Monday (Feb 23) assigned the investment holding firm a target price of S$38.50 &ndash 11.6 per cent above its latest closing price of S$34.50 on Monday.
DBS analysts Elizabelle Pang and Sachin Mittal said that the outlook for Astra International, a &ldquo dominant earnings driver&rdquo for Jardine C& C, is &ldquo constructive&rdquo .
Jardine C& C, a member of the Jardine Matheson Group, has a 50.1 per cent stake in Astra, a diversified Indonesian conglomerate with operations spanning automotive manufacturing, components and financial services it also has other strategic interests in South-east Asia.
Beyond Astra, Jardine C& C is poised to benefit from growth drivers in Vietnam, Pang and Mittal said. They cited the management&rsquo s plans to replicate an &ldquo Astra playbook&rdquo in Vietnam through mergers and acquisitions (M& As) and capital recycling, which could unlock value and trigger a re-rating.
Indonesia exposure via Astra stake
DBS noted that Jardine C& C and Astra are expected to provide clearer outcomes from their strategic review by the end of H1 2026.
&ldquo We see this as a meaningful re-rating catalyst, potentially translating into sustained share buybacks, higher dividend payouts and selective asset recycling,&rdquo analysts from the bank said.
They maintained a &ldquo constructive&rdquo view on Astra, and forecast its FY2026 earnings to come in at around 4 per cent above consensus, amid resilient fundamentals, despite persistent technical headwinds.
Astra&rsquo s risks related to Martabe gold mine appear to be &ldquo mostly priced in&rdquo , the analysts said, noting that this presents an &ldquo attractive entry point&rdquo via Jardine C& C.
The Indonesian authorities are reviewing a decision to take over the mine after revoking the permit of mine operator Agincourt Resources, which is part of the Astra conglomerate.
The bank added that Jardine C& C&rsquo s Singapore Exchange listing and broader regional portfolio may reduce sensitivity to Indonesia MSCI-related volatility and support a cleaner re-rating path over time.
However, it said that MSCI-linked developments could &ldquo continue to cap near-term re-rating&rdquo .
The MSCI&rsquo s warning of a potential downgrade of Indonesia from emerging-market economy status to a frontier-market one triggered sell-offs in January.
Vietnam exposure
Under its medium-term strategy, Jardine C& C&rsquo s management plans to replicate its &ldquo Astra playbook&rdquo in Vietnam, which offers &ldquo incremental diversification&rdquo opportunities through its stakes in auto player Truong Hai Group (Thaco) and renewable energy player Ree Corporation, DBS said.
Noting that Jardine C& C is prioritising majority stakes and M& As in Vietnam, the bank remarked that &ldquo M& A execution and capital recycling&rdquo &ndash for which clearer visibility is expected by end of H1 2026 &ndash could be &ldquo as key re-rating catalysts&rdquo .
Vietnam&rsquo s low car ownership supports a 16 per cent compound annual growth rate for passenger-vehicle sales, DBS said.
With Jardine C& C&rsquo s share of Thaco&rsquo s earnings up 10 per cent year on year in H1 2025, supported by robust growth in automotive earnings and resilient margins, rising export exposure could drive further earnings growth, the bank said.
Astra International, which is 50.1% owned by the group, is expected to post consensus-beating earnings for FY2026, says DBS
[SINGAPORE] DBS has initiated coverage on Jardine Cycle & Carriage (C& C) : C07 +0.88% with a &ldquo buy&rdquo call, on the basis of its &ldquo strategic exposure&rdquo to Indonesia and Vietnam, the &ldquo dual Asean growth engines&rdquo .
The bank on Monday (Feb 23) assigned the investment holding firm a target price of S$38.50 &ndash 11.6 per cent above its latest closing price of S$34.50 on Monday.
DBS analysts Elizabelle Pang and Sachin Mittal said that the outlook for Astra International, a &ldquo dominant earnings driver&rdquo for Jardine C& C, is &ldquo constructive&rdquo .
Jardine C& C, a member of the Jardine Matheson Group, has a 50.1 per cent stake in Astra, a diversified Indonesian conglomerate with operations spanning automotive manufacturing, components and financial services it also has other strategic interests in South-east Asia.
Beyond Astra, Jardine C& C is poised to benefit from growth drivers in Vietnam, Pang and Mittal said. They cited the management&rsquo s plans to replicate an &ldquo Astra playbook&rdquo in Vietnam through mergers and acquisitions (M& As) and capital recycling, which could unlock value and trigger a re-rating.
Indonesia exposure via Astra stake
DBS noted that Jardine C& C and Astra are expected to provide clearer outcomes from their strategic review by the end of H1 2026.
&ldquo We see this as a meaningful re-rating catalyst, potentially translating into sustained share buybacks, higher dividend payouts and selective asset recycling,&rdquo analysts from the bank said.
They maintained a &ldquo constructive&rdquo view on Astra, and forecast its FY2026 earnings to come in at around 4 per cent above consensus, amid resilient fundamentals, despite persistent technical headwinds.
Astra&rsquo s risks related to Martabe gold mine appear to be &ldquo mostly priced in&rdquo , the analysts said, noting that this presents an &ldquo attractive entry point&rdquo via Jardine C& C.
The Indonesian authorities are reviewing a decision to take over the mine after revoking the permit of mine operator Agincourt Resources, which is part of the Astra conglomerate.
The bank added that Jardine C& C&rsquo s Singapore Exchange listing and broader regional portfolio may reduce sensitivity to Indonesia MSCI-related volatility and support a cleaner re-rating path over time.
However, it said that MSCI-linked developments could &ldquo continue to cap near-term re-rating&rdquo .
The MSCI&rsquo s warning of a potential downgrade of Indonesia from emerging-market economy status to a frontier-market one triggered sell-offs in January.
Vietnam exposure
Under its medium-term strategy, Jardine C& C&rsquo s management plans to replicate its &ldquo Astra playbook&rdquo in Vietnam, which offers &ldquo incremental diversification&rdquo opportunities through its stakes in auto player Truong Hai Group (Thaco) and renewable energy player Ree Corporation, DBS said.
Noting that Jardine C& C is prioritising majority stakes and M& As in Vietnam, the bank remarked that &ldquo M& A execution and capital recycling&rdquo &ndash for which clearer visibility is expected by end of H1 2026 &ndash could be &ldquo as key re-rating catalysts&rdquo .
Vietnam&rsquo s low car ownership supports a 16 per cent compound annual growth rate for passenger-vehicle sales, DBS said.
With Jardine C& C&rsquo s share of Thaco&rsquo s earnings up 10 per cent year on year in H1 2025, supported by robust growth in automotive earnings and resilient margins, rising export exposure could drive further earnings growth, the bank said.
Bouncing nicely now.
Partly the drop is due to the recent MSCI accuations about lack of transparency of ISE and Indonesian listed stocks. Jardine is hurt by association even though it is not listed there.
Big drop today...The weakening Rupiah will definitely affect earnings.
Alignment ( Date: 01-Jan-2026 10:20) Posted:
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United Tractors shares plunge nearly 15 percent after government revokes Martabe gold mine permit.
https://indonesiabusinesspost.com/5967/corporate-affairs/united-tractors-shares-plunge-nearly-15-percent-after-government-revokes-martabe-gold-mine-permit
Weakening rupaih not yet impacting on the share price.
Trendspotter:
Jardine Cycle & Carriage Ltd &ndash Technical Buy
- Uptrend firmly intact, continuation likely
