Jardine Matheson raises earnings outlook, buys half of Gammon; Frasers names new CEO, Southern Alliance sees Sultan purchase

Jardine Matheson upgraded its 2026 earnings guidance on Tuesday, projecting underlying earnings of US$5.50 to US$5.65 per share, an increase from the earlier US$5.33 estimate. The conglomerate also completed a US$330 million acquisition of a 50% stake in Gammon Construction from Balfour Beatty, taking full ownership of the business along with its future dividends and cash reserves. Frasers Property Industrial announced the appointment of Jai Mirpuri as chief executive officer, effective 11 January 2027, to lead its industrial and logistics operations across Australia and Europe, reporting to group CEO Panote Sirivadhanabhakdi.

The company's shares were unchanged after the news. Meanwhile, the Sultan of Johor acquired roughly 2.3% of Southern Alliance Mining’s issued shares from managing director Dato’ Sri Pek Kok Sam in an off-market deal, paying around S$6.1 million for 14,326,500 ordinary shares at S$0.425 each, a premium of about 11.8% over the prior closing price. The transaction was completed on Monday.