Talent is the company strength, ‘shareholder change is not a new thing’: Cycle & Carriage MD

Wilfrid Foo, MD of Cycle & Carriage, emphasizes the company's independence amid sale rumors, stating that shareholder changes are common. He highlights the strength of the management team and asserts that they have full autonomy in investment and operational decisions, despite Jardine Cycle & Carriage being the majority shareholder.

[SINGAPORE] Right off the bat, the head of automobile distributor Cycle & Carriage (C&C) Wilfrid Foo is keen to emphasise the independent nature of the company amid rumours of its impending sale.

“Shareholder change is not a new thing. The strength of this organisation lies in the endurance of its management team,” he told The Business Times in an interview.

“Our majority shareholder is Jardine Cycle & Carriage (JC&C), but we are C&C Singapore and Malaysia… I want people to know that we have full independence to make investment and operational decisions.”