Jardine Cycle & Carriage explores sale of car dealership

1 articles · Updated · Bloomberg · May 8

The Singapore-listed company is considering divesting its dealership operations in Malaysia and Singapore for $250 million to $350 million.
People familiar with the matter said Jardine Cycle & Carriage is working with an adviser and has approached potential buyers.
The possible disposal involves a unit of Jardine Matheson Group and remains private, with no deal confirmed.

With dealership earnings surging 49%, why is Jardine exiting its Singapore and Malaysia auto retail business now?

Is Jardine's divestment a smart pivot to EVs or a misstep underestimating the value of legacy customer relationships?