Jardine Matheson raises 2026 earnings guidance as high as US$5.65 per share. It also acquires the remaining 50% of Gammon Construction it did not already own for US$330 million Published Tue, Oct 13, 2026 · 08:58 AM * The Gammon transaction is expected to be "modestly accretive" from its first year, says Jardine Matheson. PHOTO: REUTERS [SINGAPORE] Jardine Matheson expects its 2026 earnings per share (EPS) to come in between US$5.50 and US$5.65, reflecting stronger than previously expected portfolio performance, it said on Tuesday (Oct 13). The company, which previously expected EPS of about US$5.33, said the new range will be a 3 to 6 per cent increase over its 2025 EPS when adjusted for disposals and reclassifications that year. Jardine Matheson on Tuesday also said that it has acquired a 50 per cent stake in Gammon Construction from Balfour Beatty, making it the sole owner, for £250 million (US$330 million). The cash will be paid in three tranches: at completion on Tuesday, on Dec 31 next year and on Dec 29, 2028. The transaction is expected to be "modestly accretive" from its first year, said Jardine Matheson, adding that pricing is not subject to post-closing adjustments. The company will also acquire the Gammon Construction business inclusive of all future dividend entitlements and cash on balance sheet. Gammon Construction, an Asian construction and engineering company operating primarily in Hong Kong and Singapore, "enhances growth and scale for Jardine Engineering & Infrastructure (JE&I)", said Jardine Matheson, which has been a Gammon investor since 1969. JE&I combines the wholly owned Jardine Engineering Corporation and Gammon Construction with two joint venture assets, Jardine Schindler and Hactl, into a new platform. The business times turns 50. Five decades of milestones and moments that shaped Singapore's success story - told through our headlines. Explore BT50" It is led by Kevin O'Brien, former CEO of Gammon Construction and Jardine Engineering Corporation, and has plans for growth supported by "targeted" mergers and acquisitions - starting with Gammon Construction. O'Brien said he expects a "significant opportunity" for Gammon to continue its growth trajectory through capturing broader regional growth trends, including demand from artificial intelligence for supporting infrastructure, energy and sustainable solutions and accelerating industrialisation across Asia. Lincoln Pan, CEO of Jardine Matheson, said: "Our goal remains doubling the earnings of JE&I in the coming years by focusing on strategic investments that expand controlled earnings and capabilities across Asia." Shares of Jardine Matheson closed 1.6 per cent or US$0.90 lower at US$55.83 on Monday.

Jardine Matheson appoints Sid Khotkar and Erika Leung Rodriguez to executive leadership team. 08 Oct 2026 Jardine Matheson today announced the appointments of Sid Khotkar as Managing Director, Investments, effective 1 October 2026, and Erika Leung Rodriguez as Executive Director, Portfolio Resilience and Sustainability, effective 2 November 2026. The appointments add further depth to Jardines' executive leadership team as the Group focuses on disciplined capital allocation, stronger portfolio performance, and sustainable long-term growth across Asia. Sid and Erika will work closely with Chief Executive Officer Lincoln Pan and Jardines' portfolio companies to help build bigger, better and more resilient businesses. Sid will focus on identifying investment opportunities, deploying capital with discipline and driving performance across the portfolio. Erika will embed sustainability and resilience more deeply in strategic, investment and operational decision-making. Sid brings more than two decades of experience in private equity, investment banking, portfolio management and business-building across Australia, New Zealand, Asia and international markets. His appointment builds on the recent appointments of Irene Liu and Christopher Ganis as Managing Directors, Investments, further deepening Jardines' investment expertise. Erika brings nearly two decades of international experience in sustainable investing, business transformation and portfolio performance across private equity, infrastructure, real estate, credit and operating companies. Her appointment to this newly created role reflects the continued evolution of Jardines approach to sustainability and investing. She will help Jardines anticipate and manage emerging risks, work with management teams to strengthen long-term business performance, and represent Jardines on the boards of portfolio companies. Lincoln Pan, Chief Executive Officer of Jardine Matheson, said: "Sid and Erika each bring valuable experience as we seek to build and enhance value creation across our portfolio. Sid will strengthen our ability to identify opportunities, deploy capital with discipline and build high-performing businesses. Erika will help ensure that resilience and sustainability are embedded in the commercial decisions that underpin long-term performance. Their appointments further reinforce our commitment to building bigger, better and more sustainable businesses across Asia Pacific."

Christopher Ganis joins Jardine Matheson as MD, investments; Country Head, Indonesia. 02 Jul 2026 Jardine Matheson Holdings (Jardines) announces the appointment of Christopher Ganis as Managing Director, Investments, effective 1 July 2026. He will also serve as Country Head of Jardines' Indonesian regional office and as a member of the Jardines executive leadership team, reporting directly to Jardines' CEO, Lincoln Pan. Christopher is a highly experienced investment professional with over 20 years in investment-related roles, and deep focus in Indonesia and other Southeast Asian markets. He has a proven track record in originating, structuring, and managing complex investments that span sovereign-style capital deployment, private credit, private equity, alternative asset management and M&A. Based in Jakarta, Christopher will lead Jardines' investment activities in Indonesia, where he will support both Jardines' and Astra International's (Astra) investment and business initiatives. As a member of the Astra Executive Committee, he will work closely with Astra's President Director Rudy Chen, the broader Astra executive leadership team, Jardine Cycle & Carriage CEO, Freddy Lee and Jardines CEO, Lincoln Pan, to build on Astra's strategy for future growth and resilience in line with the Group's long-term commitment to Indonesia. Chris will also be the primary Jardines contact for external stakeholders in Indonesia. This appointment follows the earlier announcement in April 2026 of Irene Liu as Managing Director, Investments, and reflects Jardines' continued focus on strong capital allocation and portfolio value creation to drive long term sustainable performance in its portfolio. Christopher joins from the Indonesia Investment Authority (INA), where he most recently served as Co-Chief Investment Officer. Prior to this, Christopher spent seven years at BlackRock, where he led private credit investments in Southeast Asia, with a focus on Indonesia. He previously held roles at Asia Summit Capital, Indies Capital, Citibank and Salomon Smith Barney. Lincoln Pan said, "We are delighted to welcome Chris to Jardines. He will play a key role in supporting Astra's leadership team as they implement their strategy and in supporting ongoing investments both at an Astra and Jardines level. Jardines is committed to further deepening our engagement and connectivity in Indonesia and Chris brings depth, professionalism and experience to support Jardines and Astra. Chris further brings deep experience in managing investments in the Indonesian market and will be an excellent addition to our executive leadership team in the region as we continue to build out our investment capabilities."