Business Services Industry
Astra International is fuelling earnings at Cycle & Carriage.
Australasian Business Intelligence, March, 2003
Mar 18, 2003 (The Asian Wall Street Journal - ABIX via COMTEX)
Analysts are divided over the merits of Singapore automobile dealer Cycle & Carriage. Many, like Winston Liew of Daiwa Institute of Research, suggests that people are better off investing in Astra, the Indonesian car maker in which Cycle & Carriage has a 35.05 per cent stake, than in Cycle & Carriage itself. Liew rates Cycle & Carriage as a "speculative buy". However, this recommendation is based on the possibility that Jardine Strategic Holdings, which owns 50.2 per cent of Cycle & Carriage, may either sell its interest in it or decide to restructure its operations. Cycle & Carriage currently earns around 80 per cent of its net profit from Astra's earnings.
Publication Date: 17 March 2003...
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