In today’s briefing:
- Jardine Matheson – The Slow Grind Lower Can Continue
Jardine Matheson – The Slow Grind Lower Can Continue
- There is nothing in the main investments at JM that suggests the grind lower on ROE and net profit will suddenly reverse, rather it should continue
- Astra International, Hong Kong Land, and DFI Retail are key to JM and there is little joy here, with HKL potentially having more valuation impairments
- Quarterly figures from Astra, which are a window on the current interim for JM, are not positive, with the worst quarter in over one year
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