Singapore-based investment holding company Jardine Cycle & Carriage (JC&C) was partnering with online used car marketplace Carro in a deal worth over US$60 million, the companies said on Friday (Jun 16). Under the partnership, JC&C will take an interest in Singapore-based Carro, and Carro will,
Singapore-based investment holding company Jardine Cycle & Carriage was partnering with online used car marketplace Carro in a deal worth over US$60 million, the companies said on Friday .
Under the partnership, JC&C will take an interest in Singapore-based Carro, and Carro will, in turn, acquire an interest of equivalent value in JC&C's used car unit, Republic Auto. Both companies will appoint board representatives in the firms they are buying stakes in, and form an after-sales service unit focusing initially on Singapore and Malaysia, they added.
Singapore-listed JC&C holds interests in various companies, including Indonesian conglomerate Astra and Vietnamese conglomerate Truong Hai Group Corp. Shares of JC&C have jumped 19.7 per cent year-to-date, outperforming a relatively flat local benchmark stock index, according to Refinitiv data.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First female CFO appointed at Singapore Airlines - Singapore NewsShe's a graduate of Imperial College in the UK with a Master of Engineering and has been with Singapore Airlines since 1999
Read more »
HDB Housing Grants Available for Different Types of Flats in Singapore (2023) - Singapore NewsRead on to find out the different housing grants available, the eligibility criteria and what you need to look out for when applying for one
Read more »
More Singapore manufacturing firms setting up shop in India - Singapore NewsApple, Samsung, Kia, Boeing, Siemens, and Toshiba are among the companies looking to bring a considerable amount of manufacturing to India. Singapore companies, while traditionally looking to their manufacturing needs to China and South East Asian countries, seem to be following suit
Read more »
Latest COE Prices in Singapore and Best Car Loans in June 2023 - Singapore NewsIndeed, the latest round of COE prices, released on 7 June, saw premiums rebound across the board (except for Cat E), proving that May’s results were merely an anomaly rather than the start of a much-awaited downtrend
Read more »
Morning Digest, June 14 - Singapore NewsHere are the top stories you might've missed...
Read more »
Economists cut Singapore's 2023 growth forecast to 1.4% amid global slowdown: MAS surveySINGAPORE: Private sector economists have cut their forecast for Singapore's economic growth this year to 1.4 per cent, down from their March projection of 1.9 per cent. The findings from the latest survey of professional forecasters were released by the Monetary Authority of Singapore (MAS) on Wednesday (
Read more »