Latest news with #JardineCycle&Carriage
Business Times
5 days ago
- Business
- Business Times
Sustainability must be top-led and embedded across organisation, say panellists at BT's inaugural Sustainability Impact Dialogue
Jeffery Tan, chief sustainability officer of Jardine Cycle & Carriage, shared how early water tracking at the company uncovered usage four times higher than expected. The culprit was an underground leak, which, once fixed, delivered significant cost savings. 'When we made the connection, the CFO got it, the ops manager got it, and suddenly (the business value of sustainability) became real to them – as opposed to just a concept being pushed down,' he said. In response, Dr Khor said companies whose core business is not sustainability often overlook waste and resource use. 'But when you start looking into these areas – energy flow, materials waste – you may uncover new revenue streams. Even if it's not a revenue stream, it's cost savings and that is really important.' Lim also underscored the need to simplify sustainability messaging, moving away from jargon-heavy or overly abstract language, such as 'Scope 3 emissions'. This refers to indirect emissions that occur outside a company's direct operations and may not resonate with business owners. 'Being able to convert the language of sustainability away from that non-human language and into real, operational business language – I think it's a great idea,' he said. Support for getting started To companies that are unsure of where or how to begin, both speakers stressed the importance of just taking the first step, no matter how small. Dr Khor said SMEs can start with measures such as switching to energy-efficient equipment, which qualifies for up to 70 per cent support under the National Environment Agency's Energy Efficiency Grant. She also highlighted other government schemes, such as the Economic Development Board's Resource Efficiency Grant for Emissions, which supports emissions reduction projects at manufacturing facilities and data centres, and the Monetary Authority of Singapore's Gprnt initiative, which helps businesses automatically convert their operational data into environmental, social and governance disclosures for free. 'There is a very rich ecosystem of sustainability support (offered by the government) in terms of grants and incentives… so much that SMEs tell us that there's too much,' said Dr Khor. To help navigate this, she encouraged companies to tap Enterprise Singapore's SME Sustainability Hub, a one-stop platform for resources, training and support. Lim similarly urged SMEs not to go it alone. Banks and government agencies, he said, can help companies assess where they are and connect them to solution providers. He noted that UOB's ecosystem platforms – such as U-Solar and U-Energy – bundle technology partners, financing and advisory support to ease adoption. '(SMEs) simply talk to the bank, the bank connects them within the ecosystem, and they can access financing at the same time,' he said. Beyond top-down directives, bottom-up initiatives were also spotlighted during the dialogue. Audience members, including representatives from industry groups and social enterprises, shared ideas such as developing simplified sustainability indices or certifications to help SMEs get started. In response, both Dr Khor and Lim welcomed such ground-up efforts, noting that these can complement government support schemes – and, if endorsed or recognised by the government, potentially gain greater traction through procurement requirements or green finance channels.
Straits Times
20-06-2025
- Business
- Straits Times
Singapore shares in the red amid mixed regional showing; STI down 0.3%
SINGAPORE – Shares here declined on June 20 amid concerns over a possible US strike on Iran and the resulting dangers to oil supplies. US equity markets were closed for the Juneteenth holiday overnight, so investors here had to look elsewhere for leads and they didn't like what they saw. While news that the US has delayed any Iranian intervention for two weeks slightly eased tensions, the looming uncertainties still pushed stocks lower. 'The worsening global geopolitical weather keeps investors in a cautious mode, and will likely prevent them from taking too much risk before the weekend,' said Swissquote Bank senior analyst Ipek Ozkardeskaya. The wary mood helped send the Straits Times Index (STI) down 0.3 per cent or 10.75 points to 3,883.43 but gainers beat losers 253 to 203 on solid trade of 1.3 billion securities worth $2.2 billion. The geopolitical uncertainty did not take much of a toll on regional indexes. While Japan's Nikkei 225 and Australia's ASX 200 both slipped 0.2 per cent, the Kospi in South Korea climbed 1.5 per cent, Hong Kong's Hang Seng added 1.3 per cent and Malaysian stocks edged up 0.1 per cent. The Hang Seng Index is now nearly back to its March 2025 highs following the announcement of the trade war truce, noted Morningstar equity market strategist Kai Wang. He added that 'tariffs may again rear its ugly head' in the second half of the year, noting: 'We could see their consequences and whether earnings are under pressure as there are still headwinds to consumer confidence.' The STI's top gainer was conglomerate Jardine Cycle & Carriage, which advanced 3.3 per cent to close at $24.45, while Frasers Logistics and Commercial Trust led the blue-chip losers, falling 2.4 per cent to 81.5 cents. The three local banks were mixed: UOB edged up 0.5 per cent to $34.89; OCBC fell 0.6 per cent to $15.90; and DBS slipped 0.1 per cent to $43.88. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
28-05-2025
- Business
- Business Times
Singapore shares buck regional trend; STI up 0.4%
[SINGAPORE] Shares on the Singapore bourse ended higher on Wednesday (May 28), even as other regional markets languished in the red. In Singapore, the benchmark Straits Times Index (STI) rose 0.4 per cent or 15.83 points to 3,911.92. Across the broader market, advancers edged out decliners 233 to 224, after 1.2 billion securities worth S$1.2 billion were traded. The top gainer on the benchmark index was Thai Beverage , which rose 2.2 per cent or S$0.01 to S$0.47. The beverage distributor was also the most actively traded counter by volume, with 48 million units worth S$22.5 million traded. The biggest decliner was investment holding company Jardine Cycle & Carriage . The counter, which was trading ex-dividend, fell 3.9 per cent or S$1.00 to S$24.93 Markets across the region were mostly in the red on Wednesday. Australia's ASX 200 fell 0.1 per cent; Hong Kong's Hang Seng Index slid 0.5 per cent. Japan's Nikkei 225 ended flat. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Their performance bucked Wall Street's the night before. US markets rose the day before in reaction to the news of US President Donald Trump's administration delaying the implementing tariffs on Europe. Peter Bates, the portfolio manager for global select equity strategy at investment management company T. Rowe Price Group said that the persistent US fiscal deficit – which exceeds 6 per cent of the country's gross domestic product – could affect US equities. 'If this raises doubts about the US' creditworthiness, it could push 10-year yields above 5 per cent, pressuring equity valuations,' he said. Nevertheless, he remained bullish on US stocks in the long-term as he believes the US market is more likely to attract long-term opportunities.
Business Times
27-05-2025
- Business
- Business Times
Jardine-linked Thaco joins race for Vietnam's US$67 billion bullet train project
[HO CHI MINH CITY] The battle to build Vietnam's largest bullet train project is heating up as Truong Hai Group (Thaco) – a sprawling Vietnamese industrial conglomerate backed by Singapore-listed Jardine Cycle & Carriage – throws its hat into the ring for the US$67 billion North-South High-Speed Railway. Thaco's proposal would pit it against another heavyweight contender, VinSpeed – part of the Vingroup empire – which is also vying to build the mammoth, decade-long transnational railway project connecting Hanoi and Ho Chi Minh City. Thaco, founded by auto tycoon Tran Ba Duong, is 26.6 per cent owned by Jardine Cycle & Carriage, a subsidiary of Hong Kong-based Jardine Matheson. In Vietnam, Jardine has steadily expanded its footprint not only through its stake in Thaco, but also via investments in the dairy producer Vinamilk and the infrastructure and utilities firm REE Corp. According to Thaco's proposal dated May 26 that was submitted to Prime Minister Pham Minh Chinh and reviewed by The Business Times, the conglomerate has proposed to invest around US$61.4 billion into the project, excluding expenses related to site clearance and resettlement that will be handled by the state. Like VinSpeed, the industrial heavyweight has proposed gaining priority access to the prime land surrounding station sites for transit-oriented development (TOD) – a move that could unlock significant upside from rising land values and commercial spillovers. Thaco is also seeking tax exemptions on imported equipment, materials, and machinery not available through local manufacturing. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The Jardine-backed firm has pledged to cover 20 per cent of the US$61.4 billion project – or US$12.3 billion – through its own capital and other mobilised sources, with plans to borrow the remainder for construction and operations. This mirrors the proposal by VinSpeed. In the letter signed by Duong, who is chairman of the group, Thaco proposed that the state own certain facilities and take responsibility for part of the management and operation. 'We are also committed to developing TOD models in an exemplary manner and at reasonable prices to meet the housing and living needs of the majority of Vietnamese people,' he wrote. Best known domestically for its automotive manufacturing, Thaco has an equity of 57.9 trillion dong (S$2.9 billion) as at the end of the first quarter of this year, with Duong and his family members holding 72 per cent of the stake. Shift from state to private capital The North-South High-Speed Railway project, approved by the country's parliament in November 2024 under public investment, involves constructing a 1,500 kilometre rail line spanning 20 cities and provinces. The government plans to start construction in 2026 and put it into operation from 2035. The proposals signal a potential shift from the current state-led investment model to one driven by private capital. This potential policy change, along with special mechanisms proposed for the project, is expected to be tabled for parliamentary review during the current legislative session, which runs until end-June. These proposals also align with the recent Resolution 68, in which the ruling Communist Party of Vietnam has explicitly encouraged private firms to participate in national-scale initiatives and projects, including the development of high-speed railways, metro lines, power and digital infrastructure, and green transportation. This is part of the South-east Asian nation's ambition to foster the rapid growth of home-grown, mid-to-large private enterprises into internationally competitive corporations. Thaco plans to raise 80 per cent of the project's funding through domestic and foreign credit institutions, and is seeking a government guarantee, a risk-sharing mechanism to boost lender confidence, and full-interest subsidies over a 30-year loan period. In comparison, VinSpeed had earlier proposed zero-interest loans from the state over 35 years to finance a similar share of the investment. Thaco estimates it will take seven years to develop three sections of the railway in two phases. In comparison, VinSpeed pledged to bring the entire line into operation within five years. Headquartered in Ho Chi Minh City, Thaco operates one of Vietnam's largest industrial parks within the Chu Lai Open Economic Zone in the central province of Quang Nam. The 1,200-hectare park hosts seven of Thaco's auto plants producing and assembling a range of vehicles, from passenger cars to buses and trucks, for brands such as Kia, Mazda, Peugeot, Mitsubishi Fuso, and Thaco Bus. The conglomerate also plans to begin construction of its industrial park specialising in mechanical and supporting industries in Vietnam's southern manufacturing hub of Binh Duong in September, and another in the northern province of Bac Ninh next year. Potential challenges ahead VinSpeed's proposal submitted on May 6 secured initial support from the government, with relevant agencies assigned to review and provide feedback before it is finalised and submitted to the parliament. In its feedback on VinSpeed's proposal, the State Bank of Vietnam (SBV) noted that Vingroup had a debt-to-equity ratio of 4.23 at Mar 31, suggesting that the group relies heavily on debt financing, according to a document dated May 19 seen by BT. The 20 per cent of the investment arranged by VinSpeed for the bullet train project already amounts to double Vingroup's equity of 157.5 trillion dong. By end-March, the conglomerate and 101 related firms in its ecosystem had a total domestic outstanding loan of 117.1 trillion dong. Meanwhile, the outstanding foreign debt of Vingroup and its subsidiaries, including electric car maker VinFast, hospitality firm Vinpearl, and residential real estate developer Vinhomes, stood at some US$2.41 billion. 'The North-South High-Speed Railway project is a particularly important project with complex technology and a large total investment, exceeding the appraisal capacity of credit institutions,' SBV noted. Therefore, the central bank proposes a special mechanism related to a government guarantee for the domestic loan proposed by the firm to ensure the safety of banking operations. 'In the event that Vinspeed borrows a large amount of foreign capital within a short period, it could affect the limits on self-managed and self-repaid foreign loans, as well as the overall national foreign debt safety ratio,' it warned.
Yahoo
14-04-2025
- Business
- Yahoo
Returns At Jardine Cycle & Carriage (SGX:C07) Appear To Be Weighed Down
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Although, when we looked at Jardine Cycle & Carriage (SGX:C07), it didn't seem to tick all of these boxes. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Jardine Cycle & Carriage, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.11 = US$2.6b ÷ (US$32b - US$8.5b) (Based on the trailing twelve months to December 2024). Therefore, Jardine Cycle & Carriage has an ROCE of 11%. On its own, that's a standard return, however it's much better than the 6.6% generated by the Industrials industry. View our latest analysis for Jardine Cycle & Carriage In the above chart we have measured Jardine Cycle & Carriage's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Jardine Cycle & Carriage . There hasn't been much to report for Jardine Cycle & Carriage's returns and its level of capital employed because both metrics have been steady for the past five years. Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So unless we see a substantial change at Jardine Cycle & Carriage in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger. This probably explains why Jardine Cycle & Carriage is paying out 40% of its income to shareholders in the form of dividends. Unless businesses have highly compelling growth opportunities, they'll typically return some money to shareholders. In summary, Jardine Cycle & Carriage isn't compounding its earnings but is generating stable returns on the same amount of capital employed. Since the stock has gained an impressive 44% over the last five years, investors must think there's better things to come. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward. One more thing to note, we've identified 1 warning sign with Jardine Cycle & Carriage and understanding it should be part of your investment process. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
