Nov, 10 2025 — Jardine Cycle & Carriage Limited said its full-year underlying profit is expected to be “broadly similar” to that of 2024, despite a lower contribution from 50.1%-owned Astra International during the first nine months of 2025.

The company reported that stronger performances from several non-Astra businesses and favourable translation gains on corporate loans mitigated the impact of a weaker Indonesian Rupiah on Astra’s earnings.

Astra logged reduced underlying profit for the nine-month period, as lower coal prices and weather-related disruptions weighed on heavy equipment and mining, while automotive operations saw softer new-car sales and stable motorcycle share. Higher earnings from financial services, agribusiness and infrastructure partly offset those declines.

Astra completed the acquisition of an 83.7% stake in logistics property developer Mega Manunggal Property, raised its holding in Hermina Hospital to 20%, and agreed to buy gold miner Arafura Surya Alam. In October it also unveiled a share buyback programme of up to Rp2 trillion, matched by subsidiary United Tractors.

Elsewhere in Indonesia, 49.9%-owned Tunas Ridean reported lower car sales and profits.

In Vietnam, THACO recorded higher automotive volumes, though passenger-car margins narrowed amid intensified competition. REE Corporation delivered stronger earnings on improved hydrology in its power business, with its contribution to Jardine Cycle & Carriage rising after the group lifted its stake to 41.6%.

Regional subsidiary Cycle & Carriage achieved higher profit on increased used-car sales, electric bus deliveries and stronger after-sales throughput in Singapore.

Jardine Cycle & Carriage is headquartered in Singapore and is 85% owned by Jardine Matheson.