Latest news with #JardineMatheson
Forbes
3 days ago
- Business
- Forbes
Billionaire Keswick Family's Jardines Appoints PAG Private Equity Co-Head As CEO
Lincoln Pan, incoming CEO of Jardine Matheson. Jardine Matheson, the Hong Kong-based conglomerate helmed by the billionaire Keswick family, has named a private equity maven as its new CEO amid the nearly-two-century-old company's corporate overhaul. Jardines on Thursday announced that Lincoln Pan will succeed John Witt as head of the conglomerate from December 1. Pan is currently a partner and co-head of private equity at Weijian Shan's PAG. Previously he was CEO for greater China at U.K. insurance broker Willis Towers Watson, and had stints at Japanese private equity firm Advantage Partners and U.S. consulting firm McKinsey. Witt, who has been with Jardines since 1993, will retire from all his roles at the conglomerate and its units, except at property arm Hongkong Land, where he will remain chairman. In a statement, Ben Keswick, executive chairman of Jardines and the fifth-generation scion of the Scottish clan, said 'Lincoln's wealth of investment experience in the Asia Pacific region and track record of working with company boards and management teams makes him extremely well-placed to lead Jardines.' Ben Keswick (left), executive chairman of Jardine Matheson, meets with Chinese Vice President Han Zheng in Beijing, China on June 1, 2023. Jardines, whose roots date back to 1832 as a tea and opium trading house, has businesses across Asia ranging from property development to hospitality, car dealerships, heavy engineering, financial services and logistics. In recent years, it has been deriving the bulk of its profits from Indonesian conglomerate Astra International. Its other units include Hongkong Land, a major landlord in Hong Kong's Central business district; the Mandarin Oriental luxury hotel group; and DFI Retail, which operates the 7-Eleven franchise, IKEA outlets and other supermarket chains in Asia. The appointment of an outsider to lead the conglomerate comes as Jardines is trying to modernise its operations to boost efficiency and shareholder returns. In its 2024 earnings report, Jardines said it's transitioning from being an 'owner-operator' of its portfolio companies to a 'long-term, engaged investor,' focusing on board-level oversight rather than day-to-day management. It has added independent non-executive directors on its board and appointed outsiders to head some of its units. Recent appointments include Michael Smith, ex-regional CEO for Europe and the U.S. at Mapletree Investments, who succeeded Hongkong Land veteran Robert Wrong as CEO of the property giant. These changes are part of an overhaul orchestrated by Keswick, who took the reins as executive chairman in 2019 from his uncle Henry (Henry passed away in November). Two years into his tenure, Keswick engineered a $5.5 billion buyout to delist Jardines' second-largest unit, Jardine Strategic. The restructuring untangled Jardines' complex cross-shareholding structure that was set up in the 1980s to defend it against hostile takeovers following an attempt by Li Ka-shing, Hong Kong's richest person, to acquire Hongkong Land. 'Jardines has changed a lot since we simplified the holding company structure into a more efficient and investor-friendly Group,' Keswick said in the statement. 'We have been on an ongoing transition away from our historical owner-operator model, towards becoming an engaged investor with a sharpened focus on generating superior, long-term returns for shareholders' Pan said leaving PAG was an 'incredibly difficult decision,' and that he looks forward to helping steer Jardines towards its 'ambitious financial objectives…while preserving the Jardines' long-term approach and unique culture.'
Yahoo
08-05-2025
- Business
- Yahoo
Public companies are Hongkong Land Holdings Limited's (SGX:H78) biggest owners and were rewarded after market cap rose by US$416m last week
Key Insights Hongkong Land Holdings' significant public companies ownership suggests that the key decisions are influenced by shareholders from the larger public 53% of the company is held by a single shareholder (Jardine Matheson Holdings Limited) Recent sales by insiders AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. A look at the shareholders of Hongkong Land Holdings Limited (SGX:H78) can tell us which group is most powerful. With 53% stake, public companies possess the maximum shares in the company. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). As a result, public companies collectively scored the highest last week as the company hit US$11b market cap following a 3.9% gain in the stock. Let's take a closer look to see what the different types of shareholders can tell us about Hongkong Land Holdings. View our latest analysis for Hongkong Land Holdings SGX:H78 Ownership Breakdown May 8th 2025 What Does The Institutional Ownership Tell Us About Hongkong Land Holdings? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. As you can see, institutional investors have a fair amount of stake in Hongkong Land Holdings. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Hongkong Land Holdings, (below). Of course, keep in mind that there are other factors to consider, too. SGX:H78 Earnings and Revenue Growth May 8th 2025 Hedge funds don't have many shares in Hongkong Land Holdings. Looking at our data, we can see that the largest shareholder is Jardine Matheson Holdings Limited with 53% of shares outstanding. This essentially means that they have extensive influence, if not outright control, over the future of the corporation. Meanwhile, the second and third largest shareholders, hold 2.7% and 2.2%, of the shares outstanding, respectively. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.
Straits Times
02-05-2025
- Business
- Straits Times
Singapore shares close higher ahead of GE2025; STI up 0.3%
The Straits Times Index gained 0.3 per cent or 12.63 points to 3,845.14. ST PHOTO: BRIAN TEO SINGAPORE - Stocks on the local bourse ended higher on May 2, a day before Singaporeans head to the polls. The Straits Times Index (STI) gained 0.3 per cent or 12.63 points to 3,845.14. On the STI, Jardine Matheson was the top gainer. It rose 3.9 per cent or US$1.74 to US$46.20. CapitaLand Investment came in at the bottom of the benchmark index, shedding 8 per cent or $0.22 to close at $2.53. The trio of local banks settled higher. UOB was up 0.8 per cent or $0.26 at $34.90; DBS added 0.6 per cent or $0.25 to $42.70; OCBC increased 0.1 per cent or $0.02 to $16.17. Across the broader market, gainers outnumbered losers 337 to 189, after 1.2 billion securities worth $1.3 billion changed hands. Elsewhere in the region, stock indices largely tracked Wall Street's gains on May 1, after China signalled it was considering a US proposal to negotiate steep tariffs. Hong Kong's Hang Seng Index rose 1.7 per cent, Japan's Nikkei 225 gained 1 per cent and the Kospi added 0.1 per cent. Meanwhile, the Bursa Malaysia Kuala Lumpur Composite Index climbed 0.2 per cent. Ms Ipek Ozkardeskaya, senior analyst at Swissquote Bank, noted that the lack of trade war escalation and dovish expectations from the Federal Reserve have been key drivers behind the recent S&P500 rally. 'But optimism remains fragile, and the Fed's ability to help depends on the trajectory of inflation,' she added. While Meta, Microsoft, Amazon and Apple posted stronger-than-expected Q1 results, she sees cautious statements from Apple and Amazon tempering overall market sentiment. Mr Barnabas Gan, RHB Group chief economist, noted a continued improvement in risk-taking appetite. 'At this juncture, investors are fixated on potential evolvement of US-led tariffs in their respective asset allocation strategies.' However, he added that the absence of conclusive US-China trade talks could dampen hopes for a deal in the near future. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
02-05-2025
- Business
- Business Times
Singapore shares close higher ahead of GE2025; STI up 0.3%
[SINGAPORE] Stocks on the local bourse ended higher on Friday (May 2), a day before Singaporeans head to the polls. The Straits Times Index (STI) gained 0.3 per cent or 12.63 points to 3,845.14. On the STI, Jardine Matheson was the top gainer. It rose 3.9 per cent or US$1.74 to US$46.20. CapitaLand Investment came in at the bottom of the benchmark index, shedding 8 per cent or S$0.22 to close at S$2.53. The trio of local banks settled higher. UOB was up 0.8 per cent or S$0.26 at S$34.90; DBS added 0.6 per cent or S$0.25 to S$42.70; OCBC increased 0.1 per cent or S$0.02 to S$16.17. Across the broader market, gainers outnumbered losers 337 to 189, after 1.2 billion securities worth S$1.3 billion changed hands. Elsewhere in the region, stock indices largely tracked Wall Street's gains on Thursday, after China signalled it was considering a US proposal to negotiate steep tariffs. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Hong Kong's Hang Seng Index rose 1.7 per cent, Japan's Nikkei 225 gained 1 per cent and the Kospi added 0.1 per cent. Meanwhile, the Bursa Malaysia Kuala Lumpur Composite Index climbed 0.2 per cent. Ipek Ozkardeskaya, senior analyst at Swissquote Bank, noted that the lack of trade war escalation and dovish expectations from the Federal Reserve have been key drivers behind the recent S&P500 rally. 'But optimism remains fragile, and the Fed's ability to help depends on the trajectory of inflation,' she added. While Meta, Microsoft, Amazon and Apple posted stronger-than-expected Q1 results, she sees cautious statements from Apple and Amazon tempering overall market sentiment. Barnabas Gan, RHB Group chief economist, noted a continued improvement in risk-taking appetite. 'At this juncture, investors are fixated on potential evolvement of US-led tariffs in their respective asset allocation strategies.' However, he added that the absence of conclusive US-China trade talks could dampen hopes for a deal in the near future.
Straits Times
30-04-2025
- Business
- Straits Times
Singapore stocks rise on April 30, snapping four-day losing streak; STI up 0.7%
The benchmark Straits Times Index gained 0.7 per cent or 27.33 points to 3,832.51. ST PHOTO: LIM YAOHUI SINGAPORE – Equities on the Singapore bourse rose on April 30, as four sessions of losses drew some bargain hunting. Sentiment across most of Asia was also more positive, after Japan's top trade negotiator said he aimed to make steady progress in tariff negotiations with the US. The benchmark Straits Times Index (STI) gained 0.7 per cent or 27.33 points to 3,832.51. The top gainer was property developer Hongkong Land, which rose 4 per cent or US$0.19 to US$4.89. This marks the fourth straight session that the counter has risen. This is after the company said on April 24 it would sell 147,025 square feet of One Exchange Square in Hong Kong to the city's stock exchange operator for HK$6.3 billion (S$1.1 billion) and launch a share buyback programme. The biggest decliner was Jardine Matheson, which shed 2 per cent or US$0.89 to end at US$44.46. Singapore's trio of local banks closed higher. DBS rose 0.9 per cent or $0.37 to $42.45, while UOB added 0.8 per cent or $0.28 to end at $34.64. OCBC closed 1.1 per cent or $0.17 higher at $16.15. Across the broader market, gainers beat decliners 288 to 177, after 971.8 million securities worth $1.4 billion changed hands. Equities across Asia traded mostly higher. Japan's Nikkei 225 advanced 0.6 per cent to close at its highest in a month. Hong Kong's Hang Seng Index also rose, by 0.5 per cent. The Shenzhen Component Index gained 0.5 per cent, while the Shanghai Composite was the outlier among Greater China indexes, shedding 0.2 per cent. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
