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Singapore's Jardine Cycle & Carriage forms vehicle-leasing subsidiary

Singapore-based investment holding company Jardine Cycle & Carriage Ltd. said Jan. 3 that it established a new wholly owned subsidiary that will specialize in vehicle leasing.

The new company, called Cycle & Carriage Leasing Pte. Ltd., has an initial capital of S$1.

The company — which engages in businesses such as automotive, financial, heavy equipment and mining — said the unit's establishment is not expected to have a material impact on the group's net tangible assets or EPS.