Jardine Matheson Holdings (JMH) and Jardine Strategic Holdings (JSH) reported 32% and 35% lower earnings to US$1.085 billion and US$1.094 billion for the FY2020 ended December, from earnings of US$1.589 billion ($1.46 billion) and US$1.681 billion a year ago.

This was mainly due to the negative impact of the Covid-19 pandemic, which affected businesses in Southeast Asia, Astra and Jardine Cycle & Carriage (JC&C), and Mandarin Oriental.

Astra’s business in Indonesia, as well as JC&C’s motor and other interests across Southeast Asia saw lower profit contributions from most of their divisions. Meanwhile, Mandarin Oriental suffered due to the travel restrictions that were imposed during the year.

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