Jardine Cycle Carriage

#1919

Rank

$10.25B

Marketcap

Singapore

Country

Leadership team

Mr. Benjamin Herrenden Birks (Group MD & Director)

Mr. Eng Heong Tan (Group Gen. Counsel, Chief Sust. Officer, Director of Legal & Corp. Affairs and Company Sec.)

Mr. Jason Wen (Director of HR)

Products/ Services

Automotive, Manufacturing

Headquarters

Singapore, Central Region, Singapore

Established

1899

Traded as

C07.SI

Social Media

URL

https://www.jcclgroup.com

Overview

Location

Recognition and Award

References

Summary

Jardine Cycle & Carriage Limited, an investment holding company, engages in the automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally. The company produces, distributes, retails, and aftersales services of motor vehicles, as well as manufactures and distributes automotive components; manufactures, assembles, distributes, and owns dealership networks for Toyota, Daihatsu, Isuzu, Peugeot, and UD Trucks, as well as Honda motorcycles; and manufactures and retails BMW vehicles, and owns the Lexus cars dealership. It also offers financial services, such as financing for motorcycles, cars, heavy equipment, insurance protection for individual and commercial customers, lending products to retail consumers, and digital payment solutions. In addition, the company supplies heavy equipment and provides aftersales services for various sectors, including mining, plantation, construction, and forestry; distributes Komatsu, UD, SCANIA, Bomag, and Tadano heavy equipment; and owns and operates thermal and metallurgical coal, gold, and thermal power assets, as well as operates in the construction and renewable energy sectors. Further, it cultivates, harvests, and processes palm oil; develops and manages toll roads; provides printing and digital services solutions; and distributes FUJIFILM business products, as well as develops office and residential buildings. The company was formerly known as Cycle & Carriage Ltd. and changed its name to Jardine Cycle & Carriage Limited in 2004. The company was founded in 1899 and is based in Singapore. Jardine Cycle & Carriage Limited is a subsidiary of Jardine Strategic Singapore Pte Ltd.

History

Early history as Federal Stores

It was first founded as Federal Stores in 1899 by a trader in nutmeg and sundries on Jalan Bandar in Kuala Lumpur, Malaysia. On 15 June 1899, it was renamed Cycle & Carriage by its founders, the Chua brothers, and thereafter, it expanded to sell bicycles, motorcycles, and eventually motor cars. In 1904, Cycle & Carriage shifted to the corner of High Street, Market Street and Market Square and subsequently expanded to Ipoh, Penang and Singapore.

World War I and the shift to Singapore

During World War I, Cycle & Carriage suffered economically as a result of the shortage of supply for cars. The war, however, encouraged the development of automobile technology, stimulating interest in the motor car, and spurring demand for Cycle & Carriage's products in 1918. In that year, Cycle & Carriage was registered in the Federated Malay States with SG$250,000 in registered capital. In 1926, Cycle & Carriage shifted its headquarters to Orchard Road in Singapore, with capital of SG$5 million and registered as a public company known as The Cycle & Carriage Company Limited.

World War II and the Daimler-Benz contract

World War II caused the company to cease operations, and its workshops, motor cars and trucks were absorbed by the Japanese during the Japanese occupation of Malaya and the Japanese occupation of Singapore. Following that in 1951, Cycle & Carriage was awarded the Mercedes-Benz franchise in Singapore, the first to carry the marque in Southeast Asia.

Expansion and listing

Cycle & Carriage launched plans to build an assembly plant in Hillview, Singapore. On 4 March 1965, the Minister for Finance Goh Keng Swee laid the foundation stone for the SG$2.5 million plant, and predicted that it would create 10,000 new jobs over the following five years. In 1969, the company launched an initial public offering, which was oversubscribed by 73 times, with a total offering of SG$241.65 million - which amounted to just a little short of the budget for the Ministry of Interior and Defense for that year.

Acquisition by Jardine Matheson

By 1999, Jardine Matheson was a major shareholder in Cycle & Carriage Limited, with a 24.6% stake. In 2002, Cycle & Carriage Limited became a subsidiary of Jardine Matheson when Jardine Strategic increased its stake to over 50%. In recognition of its distinguished operating history, and in the interests of integration to the Jardine Matheson Group, it was renamed Jardine Cycle & Carriage Limited.

Mission

Our mission is to create long-term value for our shareholders and customers through responsible and innovative investments, while promoting sustainable growth and development of our businesses.

Vision

Our vision is to be a world class conglomerate, transforming transportation and consumer products, investments, engineering and construction as well as industrial services in Asia and beyond.

Key Team

Ms. Hai Yeh Hsu (Exec. Director & Group Fin. Director)

Mr. Stephen Patrick Gore (Group Director of Bus. Devel. & Director)

Mr. Kent Teo (Exec. Officer)

Mr. Kim Teck Cheah (Managing Director of Bus. Devel.)

Recognition and Awards

Jardine Cycle Carriage Ltd has been named as one of the Best Companies to Work For in Asia by Forbes Magazine and has won numerous awards in the areas of corporate governance, sustainability, safety, and environmental excellence.