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​We are committed to growing with Asia by investing in a diversified portfolio of leading companies across a range of industry sectors.

Jardine Cycle & Carriage

Jardine Cycle & Carriage (‘JC&C’) is the investment holding company of the Jardine Matheson Group in Southeast Asia. JC&C seeks to create growth for Southeast Asia by investing in market-leading businesses based on the themes of urbanisation and the emerging consumer class. 

JC&C is a leading Singapore-listed company and 76%-owned by the Jardine Matheson Group. JC&C employs more than 240,000 people across Southeast Asia. 

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Jardine Cycle
Jardine Cycle
Jardine Cycle
Jardine Cycle
Jardine Cycle
Countries in Southeast Asia
240000 +

JC&C’s business comprises three pillars: its interest in Astra, Direct Motor Interests, which consists of the group’s non-Astra automotive businesses in Southeast Asia, and Other Strategic Interests.

Other Strategic Interests

JC&C has interests in Truong Hai Group Corporation, Vietnam Dairy Products Joint Stock Company and Refrigeration Electrical Engineering Corporation in Vietnam, as well as Siam City Cement Public Company Limited in Thailand.  JC&C also holds the Jardine Matheson Group’s stake in Astra.


Truong Hai Group Corporation

Truong Hai Group Corporation (‘THACO’) is a multi-industry group headquartered in Vietnam. THACO is a leading automotive player and participates in research and development, manufacturing, assembly, logistics, distribution and retail. It manufactures and distributes Kia, Mazda, Peugeot, FUSO, Frontier, Foton, Hyundai and BMW motor vehicles. THACO also distributes MINI.

It is a developer of residential and commercial properties including the over 1 million sqm Sala City in the Thu Thiem area of Ho Chi Minh City’s District 2. It also owns residential and commercial assets in Yangon, Myanmar.

THACO’s agriculture business includes the cultivation of fruit trees, forestry and livestock in Vietnam and Cambodia. THACO also provides logistics services from warehousing and freight forwarding to seaport services.



Vietnam Dairy Products Joint Stock Company (‘Vinamilk’) is the largest food and beverage company on the Ho Chi Minh Stock Exchange by market capitalisation. It has 15 farms and 15 factories, with operations across Vietnam, Laos, Cambodia and the USA. Vinamilk is the Vietnam’s largest dairy producer, with a large market share and a strong network of over 250,000 distribution points across the country.


Refrigeration Electrical Engineering Corporation

Refrigeration Electrical Engineering Corporation (‘REE’) is listed on the Ho Chi Minh Stock Exchange. It is a diversified business group in Vietnam with operations in power and utilities, real estate and mechanical and electrical engineering services. It has strategic interests in renewable energies such as solar, hydro and wind, and a total of 3,989MW designed power generation capacity. REE also develops and manages over 150,000 sqm of total lease area of  office space, and is a leading M&E contractor.


Siam City Cement

Siam City Cement Public Company Limited (‘SCCC’) is listed on the Stock Exchange of Thailand. Operating in Thailand, South Vietnam, Sri Lanka, Cambodia and Bangladesh, SCCC holds market-leading positions in most of its markets. SCCC produces cement, concrete and aggregates, fibre cement and other building materials, as well as participating in industrial waste management solutions.



Financial Services

Astra’s financial services portfolio delivers various financial services, covering financing for motorcycles, cars, heavy equipment, insurance protection for individual and commercial customers, lending products to retail consumers, and digital payment solutions.


Astra cultivates, harvests and processes palm oil. It is a major palm oil company in Indonesia. It has a sustainability policy covering commitment to no deforestation, conservation of peatland and respect for human rights.

Information Technology

Astra’s information technology business provides printing and digital services solutions. It is the sole distributor of FUJIFILM Business Innovation in Indonesia.



Hong Kong based virtual bank, livi bank is backed by BOC Hong Kong (Holdings), JD Technology and the Jardine Matheson Group, which together bring to livi a unique range of benefits in terms of financial strength, technological expertise and marketing excellence. With the goals of fostering digital innovation, promoting financial inclusion and enhancing customer experiences, livi brings a unique, brand-new and different banking experience to Hong Kong.

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Retail and restaurants
Retail and restaurants
Engineering, heavy equipment, mining and construction
Engineering, heavy equipment, mining and construction