S'pore Cycle & Carriage profit jumps, sets rights issue

Newswire

SINGAPORE, July 29 (Reuters) - Cycle & Carriage Ltd , Southeast Asia's fourth largest car company, on Tuesday proposed a one-for-three rights issue to raise up to S$248 million ($141.1 million) after a sharp jump in profits. The company, which owns 35.1 percent of PT Astra International , said net profit for the second quarter to June had almost doubled to S$96.3 million due to the strong contribution from the Indonesian car maker. C&C shares, suspended on Tuesday morning for the ...

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