---
title: "Jardine Cycle & Carriage to sell Singapore and Malaysia dealership businesses to Indonesia’s Chandra Asri"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296550263.md"
description: "Jardine Cycle & Carriage announced a conditional agreement to sell its Singapore and Malaysia automotive distribution businesses to Chandra Asri Pacific for approximately S$265 million. The transaction is expected to generate a gain of US$221 million, allowing Jardine C&C to focus on core markets in Indonesia and Vietnam while reducing corporate debt."
datetime: "2026-08-21T00:48:36.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296550263.md)
  - [en](https://longbridge.com/en/news/296550263.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296550263.md)
generator: "portal-rs"
---

# Jardine Cycle & Carriage to sell Singapore and Malaysia dealership businesses to Indonesia’s Chandra Asri

\[SINGAPORE\] Jardine Cycle & Carriage (Jardine C&C) announced on Friday (Aug 21) that it has entered into a conditional share and asset purchase agreement to sell its Cycle & Carriage automotive distribution and retail operations in Singapore and Malaysia to CCHPL Holdings, a wholly owned subsidiary of Indonesia’s Chandra Asri Pacific.

The proposed transaction involves the sale of automotive entities in Singapore and Malaysia, along with associated trademarks across Singapore, Malaysia and Myanmar.

The estimated base purchase price payable in cash is about S$265 million.

Based on first-half 2026 financial metrics, the disposal is expected to generate an estimated gain on disposal of about US$221 million for Jardine C&C.

“The proposed transaction enables Jardine C&C to crystallise value from the Cycle & Carriage business as we focus on our core markets of Indonesia and Vietnam and deliver a positive outcome for shareholders, said the company in the bourse filing.

This is while positioning Cycle & Carriage for continued success under its new owner, it added.

“We are of the view that Cycle & Carriage will be well-positioned within the Chandra Asri Group’s ecosystem to leverage synergies and collaboration opportunities that can strengthen competitiveness and support future growth.”

On a pro forma basis using full-year 2025 financial figures, the transaction is projected to increase Jardine C&C’s net tangible asset per share by 2.4 per cent, from US$19.70 to US$20.20.

Earnings per share (EPS) would rise 20.8 per cent from US$2.52 to US$3.05 due to the disposal gain, though underlying EPS, which excludes non-trading items, would fall 3.9 per cent from US$2.81 to US$2.70.

Sale proceeds will be utilised primarily to pay down corporate net debt.

Shares of Jardine C&C ended at S$27.50 on Thursday, 1.2 per cent or S$0.32 higher.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**