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Jardine C& C&rsquo s indirect subsidiary subscribes for 857 mil new shares in Nickel Industries Limited for A$943 mil
PT Danusa Tambang Nusantara (DTN), the indirect subsidiary of Jardine Cycle & Carriage C07 -0.18% , has subscribed for 857 million new ordinary shares in the capital of Australian Securities Exchange (ASX)-listed Nickel Industries for A$943 million ($850.1 million).
After the completion of the proposed subscription, the placement shares in Nickel Industries will represent 19.99% of Nickel Industries&rsquo total issued ordinary shares.
DTN is a wholly-owned subsidiary of the Indonesia Stock Exchange (IDX)-listed PT United Tractors Tbk, acting as a holding company for the latter. Its focus is to expand its business in gold and nickel commodities. PT United Tractors Tbk is a 59.5% subsidiary of IDX-listed PT Astra International Tbk. PT Astra International Tbk, in turn, is a subsidiary of Jardine Cycle & Carriage.
Nickel Industries is a leading integrated nickel mining and processing company. Its key assets are located either within or in close proximity to the Indonesia Morowali Industrial Park (IMIP) in Sulawesi and the Indonesia Weda Bay Industrial Park (IWIP) in Halmahera. It has an 80% stake in the Hengjaya nickel mine which is one of the largest suppliers of limonite and high-grade saprolite ore to the IMIP.
The company also owns and operates majority stakes in four rotating kiln electric furnace processing facilities. Three of them are located within the IMIP.
Based on Nickel Industries&rsquo audited consolidated financial statements for the FY2022 ended Dec 31, 2022, its profit before tax stood at US$217.0 million ($291.4 million). Its net assets as at Dec 31, 2022, stood at US$1.3 billion.
Based on its closing price of 87 Australian cents on June 8, Nickel Industries&rsquo market capitalisation is around A$2.62 billion.
The completion of the proposed subscription is subject to and conditional upon the approval by Nickel Industries&rsquo shareholders.
The consideration amount took into account Nickel Industries&rsquo historical earnings and growth potential. It will be fully funded by internal resources of the UT group.
In addition, UT, through DTN intends to take part in a direct investment into the construction of NIC&rsquo s upcoming nickel sulphate high pressure acid leaching plant (HPAL) processing facilities. This will provide UT with more opportunities to expand its portfolio into the production of nickel products that are critical to the development of batteries and electric vehicles. With this, DTN has entered into a non-binding heads of agreement (HOA) with Nickel Industries. Under the HOA, Nickel Industries may nominate DTN to acquire a 20% interest in such a project, and the HOA is conditional on the completion of the proposed share subscription.
On a pro forma basis, if the proposed subscription had been completed on Jan 1, 2022, the profit before tax attributable to Jardine Cycle & Carriage&rsquo s share would be US$43.4 million, or 1.3% of the group&rsquo s total net profit of US$3.23 billion.
Already gone beyond the target price, is there further upside before XD?
Last:32.14 
+0.1
hit target price
+0.1hit target price
ozone2002 ( Date: 03-Mar-2023 16:40) Posted:
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KGI
KGI Research
Jardine Cycle & Carriage Ltd. (JCNC SP) - Long &ndash Entry 30.90, Target 32.10, Stop 31.50
Shares closed higher today above the 5dEMA with constructive volume after its earnings.
MACD is positive, RSI is at an &ldquo overbought&rdquo level.
KGI Research
Jardine Cycle & Carriage Ltd. (JCNC SP) - Long &ndash Entry 30.90, Target 32.10, Stop 31.50
Shares closed higher today above the 5dEMA with constructive volume after its earnings.
MACD is positive, RSI is at an &ldquo overbought&rdquo level.
Jardine Cycle & Carriage H2 earnings down 42% to US$252.3 million
JARDINE Cycle and Carriage (Jardine C& C) : C07 +1.89%on Tuesday (Feb 28) announced a net profit of US$252.3 million for the second half of 2022 ended December, down 42 per cent from earnings of US$434.3 million in the same period in 2021.
Revenue for the second half of the year was up 18 per cent to US$11.1 billion, due primarily to higher sales in Astra&rsquo s automotive segment, financial services, heavy equipment and mining operations and higher sales in direct motor interests.
The board of directors has recommended a final dividend of US$0.83 per share, up from US$0.62 per share in 2021.
The dividend, if approved by shareholders at the upcoming annual general meeting, will be paid out on Jun 30.
The latest dividend brings Jardine Cycle and Carriage&rsquo s total payout for 2022 to US$1.11 per share, versus US$0.80 per share in 2021.
Things, however, looked more upbeat for the company on a full-year basis.
The company&rsquo s full-year profit for 2022 came in at US$739.8 million, up 12 per cent from US$660.6 million in 2021.
The group said underlying profit for the year hit a record high of about US$1.1 billion, 39 per cent higher than 2021.
Astra achieved a record profit as it benefited from Indonesia&rsquo s strong economic recovery and higher commodity prices, while the group&rsquo s non-Astra interests collectively also made a record contribution, mainly due to the strong performance of Truong Hai Group Corporation (Thaco) and Direct Motor Interests.
Astra contributed US$913 million to the Group&rsquo s underlying profit, 39 per cent higher than the previous year, driven primarily by the recovery in the Indonesian economy and higher commodity prices.
Meanwhile, Thaco&rsquo s contributions rose 34 per cent to US$83 million due to a strong performance from its automotive business.
Looking ahead, Jardine C& C&rsquo s chairman Ben Keswick said the company expects to face challenges from uncertainties around the global economic outlook.
The group nonetheless said it is well-positioned to achieve sustainable growth through the opportunities in South-east Asia.
Jardine C&C will soar tomorrow.....
spursfan ( Date: 28-Feb-2023 17:27) Posted:
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JARDINE CYCLE & CARRIAGE LIMITED 2022 FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT
Highlights
Highlights
- Record underlying profit of US$1,096 million, 39% higher than 2021
- Improved performances from both Astra and non-Astra interests
- Proposed final dividend of US¢ 83 per share, total dividend of US¢ 111 for the year, 39% higher than 2021
How's the results?
Quesda ( Date: 23-Feb-2023 15:05) Posted:
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Hi! is this topic still alive? 😅
I'm also wondering why.... guess it went up quite fast over last few weeks, so now having a correction? Didn't see any negative news so far.
Note vested yet. Waiting to enter.
Note vested yet. Waiting to enter.
civicavantae ( Date: 05-Dec-2022 14:03) Posted:
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Why US & SG mkt up but Jardine still drop?
It's happening again now
AttasBoss ( Date: 14-Oct-2022 15:27) Posted:
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Having a good run these 2 days 
Feb to April about 23/-, july 26/-,shot up too fast, next dividend May 23, long time to go,better off to invest in other cheaper stocks and higher dividends
AttasBoss ( Date: 14-Oct-2022 15:27) Posted:
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when it go up until can not go anymore, it must come down
Fiat500 ( Date: 14-Oct-2022 13:59) Posted:
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What's happening to Jardine C&C? Dropping non stop these few days!
31.86 +0.49
runaway rally
chiong ah!
+0.49runaway rally
chiong ah!
ozone2002 ( Date: 01-Aug-2022 21:31) Posted:
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29.41 +1.41
super power up today
all BBs rushing into this stock that' s y the surge?
+1.41super power up today
all BBs rushing into this stock that' s y the surge?
28th July 2022
JARDINE CYCLE & CARRIAGE LIMITED
2022 HALF-YEAR FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT
Highlights
- Underlying profit 51% higher at US$522 million
- Higher earnings principally from Astra and THACO
- Interim dividend per share increased from USą18 to USą28, reflecting the Board?s decision
to pay out a higher share of the full-year dividend as interim
"The Group performed strongly in the first half of 2022 and achieved a record half-year underlying
profit, mainly due to higher contributions from Astra and THACO. Astra?s performance, in
particular, benefited from improved economic conditions and higher commodity prices. The
Group expects results in the second half of the year to remain strong, although it remains
cautious as a result of global economic challenges, ongoing geopolitical developments and the
continuing impact of the pandemic."
Ben Keswick, Chairman
https://links.sgx.com/1.0.0/corporate-announcements/PTP24CCLJUDX59F5/725174_JCC_Jun%202022_V4.2Final.pdf
JARDINE CYCLE & CARRIAGE LIMITED
2022 HALF-YEAR FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT
Highlights
- Underlying profit 51% higher at US$522 million
- Higher earnings principally from Astra and THACO
- Interim dividend per share increased from USą18 to USą28, reflecting the Board?s decision
to pay out a higher share of the full-year dividend as interim
"The Group performed strongly in the first half of 2022 and achieved a record half-year underlying
profit, mainly due to higher contributions from Astra and THACO. Astra?s performance, in
particular, benefited from improved economic conditions and higher commodity prices. The
Group expects results in the second half of the year to remain strong, although it remains
cautious as a result of global economic challenges, ongoing geopolitical developments and the
continuing impact of the pandemic."
Ben Keswick, Chairman
https://links.sgx.com/1.0.0/corporate-announcements/PTP24CCLJUDX59F5/725174_JCC_Jun%202022_V4.2Final.pdf
Jardine Cycle & Carriage in third attempt to privatise Cyle & Carriage Bintang
Jardine Cycle & Carriage (JC& C) has submitted a notice of unconditional voluntary take-over offer to the board of directors of Cycle & Carriage Bintang (CCB) &ndash the group&rsquo s business unit in Malaysia.
JC& C currently holds about 89.994% of the issued share capital of CCB, which is currently listed on the main market of Bursa Malaysia Securities. CCB&rsquo s principal activities are the retail of vehicles and provision of after-sales services. It is one of the leading Mercedes-Benz dealers in Malaysia with a network of 11 outlets in the country.
Under the terms of the offer, JC& C will seek to acquire all the remaining shares of CCB that it does not currently hold at a consideration of RM2.70 per offer share. In the event of the offer being fully accepted, the total consideration for this take over would stand at about RM27.2 million ($8.6 million).
The offer is not conditional upon the receipt of any minimum level of valid acceptances.
The group will fund this acquisition through internal resources and/or external borrowings.
To recap, this is JC& C&rsquo s third attempt to takeover CCB, as it did not manage to acquire all the shares from other existing shareholders. On June 4, 2021, after its second take over attempt, JC& C announced that it only managed to raise its shareholding to 88.04%. It purchased the shares back then at RM2.40 per share.
JC& C&rsquo s first attempt to privatise CCB was in November 2019 via a proposed selective capital reduction (SCR) and repayment exercise at RM2.20 per share.
At the time, minority shareholders blocked the privatisation with more than 10% of disinterested shareholders including listed company Muar Ban Lee Group Bhd voting against the SCR.