Jardine Cycle & Carriage is one of the leading bluechip Singapore listed company and a member of the Jardine Matheson Group. It has an interest of over 50% in Astra, a premier listed Indonesian conglomerate, as well as other motor interests in SEA.
This is a company which has yields over ROE > 20% in the past 5 years and a nice dividend yield of about 3.9% at current price. EPS for FY2012 has dropped about 4.2% from previous year because of weakening Rupiah while forward EPS are expected to drop further by 8% in FY2013 (again because of weakening Rupiah). The question remains on whether valuation is attractive now as price has fallen from the 52 week high of $56.00 to a recent 52 week low of $31.50. As Rupiah continues to weaken, price could falls further and this could be a good grab at below $30.00. The statistics are also pointing in favor of Jardine as they are currently below at least 1 SD below their historical averages mean.
I have not taken a hard close look at their businesses and cashflow but first impression it does look one to watch for. Unfortunately, the price seem to be beyond my reach at the moment (imagine having to fork out $30K for 1 lot). If SGX can come out with reducing lots rule sooner, I may just consider this to my portfolio.
