The company is more than 70% owned by Jardine Strategic Holdings (SGX: J37), which is in turn majority owned by Jardine Matheson Holdings (SGX: J36).
Jardine C&C’s main business interest lies in its 50% ownership of Indonesia conglomerate Astra, with the latter accounting for more than 90% of the former’s sales and profits.
Astra is involved with a wide range of businesses which includes automobile dealerships; manufacturing, assembling, and distribution of motor vehicles; financial services related to consumer loans for vehicles; insurance; banking; mining; oil palm plantations; information technology; infrastructure and logistics; and heavy equipment engineering, among others.
With Jardine C&C’s business in its current state, much of its long-term value rides on the economic growth of Indonesia and that’s something investors should keep an eye on.
Shares of the company opened at S$36.69 today and are being valued at roughly 13 times trailing earnings with a dividend yield of 4% based on its pay-out last year.
