CORRECT (Nov 10): Jardine Matheson Southeast Asia reports resilient earnings
(Correcting that trading update is by Jardine Matheson subsidiary JMSEA.)
Jardine Matheson Southeast Asia Ltd - Singapore-based subsidiary of Hong Kong-based Jardine Matheson Holdings Ltd - JMSEA, formerly known as Jardine Cycle & Carriage, says earnings for Indonesia arm Astra are resilient in the first nine months of 2026, supported by growth in the automotive sector and in the financial services business, which increased 8% and 6%, respectively. Profit for Astra's mining solutions and heavy equipment businesses decrease 28%, excluding several non-recurring charges, due to weak sales at Martabe gold mining, which resumed operations only in the second quarter. Net profit falls 1% overall in Indonesia, excluding non-recurring charges.
In Vietnam, Truong Hai Group Corp posts higher profit, driven by increased sales in its property business. Truong Hai also achieves higher automotive sales volumes, but margins were lower due to competition. Jardine says it expects Truong Hai earnings to moderate in the year. REE Corp sees higher earnings across most of its business.
By Camilla Borri, Alliance News reporter
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