Jardine Cycle & Carriage Ltd. | Introduction
Introduction
239 Alexandra Road
Singapore 159930
Singapore
Telephone: +65 6473 3122
Fax: +65 6475 7088
Web site: http://www.jcclgroup.com
Public Company
Incorporated: 1899 as The Cycle & Carriage Company
Employees: 100,000
Sales: $1.5 billion (2004)
Stock Exchanges: Singapore
Ticker Symbol: JCYC
NAIC: 441110 New Car Dealers; 237210 Land Subdivision; 441310 Automotive Parts and Accessories Stores; 551112 Offices of Other Holding Companies
Jardine Cycle & Carriage Ltd. (JCC) is one of Singapore's 50 largest corporations, in part because of its strategic (49.92 percent as of May 2005) stake in regional automotive powerhouse PT Astra International. In addition to its shareholding in Astra, JCC has built up direct operations in two core areas: motor vehicle distribution and retailing; and property development. The company's motor vehicle arm is one of the largest automobile retailers and distributors in Singapore, and has a strong share of the Malaysian market, through its 59 percent stake in Cycle & Carriage Bintang Bhd. In Singapore, JCC sells Mercedes-Benz, Kia, and Mitsubishi. In Malaysia, the company handles Mercedes-Benz, Peugeot, Ford, and Mazda. The company's operations extend beyond retailing and include, in the case of Mercedes-Benz, the assembly of vehicles for sale in the local market. Since the early 2000s, JCC also has begun a drive to expand its automotive business into the greater regional market, establishing a subsidiary in Thailand. JCC's property development wing is operated through its 66 percent stake in publicly listed subsidiary MCL Land. That company is one of Singapore's largest property developers, with an assets portfolio worth more than SGD 5 billion. Founded in 1899 as Cycle & Carriage, the company has been majority controlled by the Jardine Matheson group since 2002. In 2004, JCC's revenues topped $1.5 billion. The company is listed on the Singapore Stock Exchange and led by Managing Director Adam Keswick.