Business Development Asia LLC
South East Asian Automotive News
Issue 6, APRIL 1998
SINGAPORE
Cycle & Carriage Ltd (CCL) posted a drop in earnings for fiscal year 1997. The company posted net profits of US$160m, but a combination of reduced sales in Singapore, Malaysia and Australia led to the 21% contraction in earnings. (March 18th 1998)
Intra-Motors, the Government-linked group which holds the Rover, Holden and Renault franchises, sold only 750 vehicles in 1997. The dealership division has been down-sizing in the last twelve months and the company announced that it will refocus towards rental and leasing in 1998. (March 29th 1998).
PSA Corp, (formerly the Port of Singapore Authority) has entered into a JV with Horst Mosolf, a German automotive logistics specialist company. The JV will provide a comprehensive range of services for new cars. PSA hopes the JV will increase the trans-shipment volume through Singapore and allow the country to become an automotive logistics hub. Horst Mosolf will use the venture to begin building its Asian network. (March 11th 1998)
| Recent News: | |
|---|---|
| Indonesia, Thailand, Malaysia, Philippines, Vietnam, Regional | |
| Focus: | |
| The Auto Retail Market in South East Asia |
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