Mention Jardine Cycle & Carriage (Jardine C&C) and the first thing that probably comes to mind is the Mercedes Car it distributes in Singapore. Well, one is indeed right, Jardine C&C is an automobile distributor for Mercedes; however, it does more than that – it distributes other brands such as Kia, Mitsubishi and etc. 

On top of it, it is a distributor for cars in Malaysia and Myanmar. It owns distributorship stakes in Indonesia and Vietnam

A Conglomerate in Indonesia

Besides car distribution, Jardine C&C is big and diverse in Indonesia. It owns a majority stake in Astra International which does financial service, mining, agriculture etc in Indonesia.

The market capitalisation of Astra is currently SGD$14.7 billion. And Jardine C&C 50.1% of stake is valued at $7.35 billion. Astra is trading at only 7.31 times P/E and a dividend yield of 5%; its quite cheap at the moment and I believe if Indonesia recovers