Jardine Cycle & Carriage Faces Earnings Hit from Astra International, Weaker Rupiah

Dow Jones07-14

0213 GMT - Jardine Cycle & Carriage faces earnings hit from Astra International and weaker Indonesian rupiah, DBS Group Research's Elizabelle Pang says in a research report. Astra International, in which JC&C has a 50.1% stake, is likely to see lower FY 2026-2027 earnings that reflect DBS' more conservative assumptions for Astra's automotive and mining businesses. DBS also incorporates a weaker rupiah assumption for FY 2026, which reduces the translated contribution from Astra to JC&C's reported earnings. DBS trims its FY 2026 and FY 2027 adjusted earnings forecasts for JC&C by 14% and 6%, respectively. It lowers the target price to 35.50 Singapore dollars from S$39.00, with an unchanged buy rating. Shares are 0.2% lower at S$26.64. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 13, 2026 22:13 ET (02:13 GMT)

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DBS also incorporates a weaker rupiah assumption for FY 2026, which reduces the translated contribution from Astra to JC&amp;C's reported earnings. DBS trims its FY 2026 and FY 2027 adjusted earnings forecasts for JC&amp;C by 14% and 6%, respectively. It lowers the target price to 35.50 Singapore dollars from S$39.00, with an unchanged buy rating. Shares are 0.2% lower at S$26.64. 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Astra International, in which JC&amp;C has a 50.1% stake, is likely to see lower FY 2026-2027 earnings that reflect DBS' more conservative assumptions for Astra's automotive and mining businesses. DBS also incorporates a weaker rupiah assumption for FY 2026, which reduces the translated contribution from Astra to JC&amp;C's reported earnings. DBS trims its FY 2026 and FY 2027 adjusted earnings forecasts for JC&amp;C by 14% and 6%, respectively. It lowers the target price to 35.50 Singapore dollars from S$39.00, with an unchanged buy rating. Shares are 0.2% lower at S$26.64. 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Astra International, in which JC&C has a 50.1% stake, is likely to see lower FY 2026-2027 earnings that reflect DBS' more conservative assumptions for Astra's automotive and mining businesses. DBS also incorporates a weaker rupiah assumption for FY 2026, which reduces the translated contribution from Astra to JC&C's reported earnings. DBS trims its FY 2026 and FY 2027 adjusted earnings forecasts for JC&C by 14% and 6%, respectively. It lowers the target price to 35.50 Singapore dollars from S$39.00, with an unchanged buy rating. Shares are 0.2% lower at S$26.64. 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