Jardine Matheson maps a road to younger Asia for its peers, says KatrinaHamlin:
Jardine Matheson reported on Aug. 2 that its first-half underlying profit fell 3% from a year earlier, to $738 million. The company noted a slowdown in the Indonesian auto market had an impact on the earnings.
Affiliate Jardine Cycle & Carriage reported underlying profit dipped 1% to $407 million over the same period. Astra International, Indonesia's largest automobile distributor, on July 18 launched a joint venture with Go-Jek to provide cars to the ride-hailing firm. The move follows an investment in Go-Jek worth $250 million overall. Astra is 50.1% owned by Jardine Cycle & Carriage.
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