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Wilmar +1.2%; Briefing calms some property JV fears

January 10th, 2011 | No Comments

Wilmar International (F34.SG) is +1.2% at $5.77, outperforming the STI, which is flat-to-lower; the company’s analyst briefing Friday seems to have soothed some fears over a loss of business discipline after its foray into property development.

DMG says after the briefing, it is “comforted” that the property JV “will not be detrimental to the company’s business focus”; the property business “will essentially ride on China’s urbanisation and rising wealth, which are the very same factors driving its agribusiness in China.”

Wilmar buys 20% stake in FFM Bhd for $157m

December 2nd, 2010 | No Comments

Wilmar International says unit, PGEO Group Sdn Bhd, has entered into a subscription agreement with FFM Berhad, a unit of PPB Group Berhad, to subscribe for 55,781,250 new shares of RM1 (41.6 cents) each in FFM, or 20% of FFM’s total enlarged share capital, for RM378,118,781.25 ($157.3 million).

In return, the two companies will enter into negotiations regarding the sale of a 20% equity interest in selected subsidiaries of Wilmar in China to Waikari Sdn Bhd, a subsidiary of FFM.

Wilmar acquires Minsec Engineering Services Sdn Bhd for $6.8m

November 12th, 2010 | No Comments

Wilmar International says 100% subsidiary, PGEO Group Sdn Bhd, has entered into a sale and purchase agreement on 12 November 2010 to acquire 100% of the shares of Minsec Engineering Services Sdn Bhd (Minsec) from Chemquest Sdn Bhd, a 55% indirect subsidiary of PPB Group Berhad, for RM35 million ($6.8 million).

The principal activity of Minsec is the provision of engineering services. The acquisition of Minsec will assist Wilmar in building its in-house engineering expertise, especially for the construction of sugar mills.

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Wilmar drops in Singapore after profit falls 60%

November 10th, 2010 | No Comments

Wilmar International, the world’s largest palm oil trader, fell the most in almost six months in Singapore trading after reporting a 60% drop in third-quarter profit.

Shares fell as much as 5.8% to $6.48, the biggest decline since May 19. They closed down 5.4% at $6.51 on the local stock exchange after Wilmar said profit margins at its oilseeds and grains unit were squeezed in the third quarter.

Wilmar drops in Singapore after profit falls 60%

November 10th, 2010 | No Comments

Wilmar International, the world’s largest palm oil trader, fell the most in almost six months in Singapore trading after reporting a 60% drop in third-quarter profit.

Commodities stocks down after Wilmar result

November 10th, 2010 | No Comments

Singapore-listed commodities stocks were down in morning trade on Wednesday after Wilmar International <WLIL.SI>, the world’s largest listed palm oil firm, posted worse-than-expected third-quarter earnings.

At 0313 GMT, Wilmar shares fell 5.5% at $6.50 on a volume of 21 million shares.

Australia approves Wilmar application for ownership of Sucrogen

November 8th, 2010 | No Comments

Australia has today approved the application by Wilmar International for full ownership of Sucrogen from CSR, according to an e-mailed statement today from Deputy Prime Minister Wayne Swan.

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Wilmar unit to pay $80.36m for 20% stake in Kencana Agri

August 13th, 2010 | No Comments

Wilmar International said a unit agreed to buy a 20% stake in Kencana Agri for $80.36 million, according to a statement. The purchase, of new and existing stock, was agreed at 35 cents a share, it said.

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Wilmar posts first quarterly profit drop since 2006: Update

August 13th, 2010 | No Comments

Wilmar International, the world’s largest palm oil trader, posted its first quarterly profit decline in at least four years as refining margins shrank and production yields from its plantations drop.

Net income fell 15% to US$344.5 million ($467.7 million), or 5.4 cents a share, for the three months ended June, from US$407 million, or 6.4 cents, a year earlier, the Singapore-based company said today in a statement. Earnings rose every quarter since at least 2006, according to data compiled by Bloomberg.

Wilmar International posts 15% fall in 2Q net profit to $469m

August 13th, 2010 | No Comments

Wilmar International, Asia’s leading agribusiness group, posted a 15% decline in net profit to US$344.5 million ($469 million) for the quarter ended June 30, 2010 (2Q2010).

Wilmar says net profit excluding non-operating items grew 13% to US$380.3 million. Net profit in 2Q2010 was affected by a negative change in valuation of US$41.7 million for convertible bonds, partially offset by a net income from other investments of US$6.2 million, whereas net profit for the quarter ended June 30, 2009 (2Q2009) was increased by a positive valuation of US$38.4 million for convertible bonds and a net income from other investments of US$38.0 million.

Wilmar seeks US$1b loan for sugar buy: Basis Point

July 9th, 2010 | No Comments

Wilmar International (WLIL.SI), the world’s largest listed palm oil firm, is seeking to borrow over US$1 billion ($1.4 billion) to help fund its purchase of Sydney-based CSR’s (CSR.AX) sugar business, Basis Point reported on Friday.

The banks that are in discussion with Wilmar include Singapore’s three local banks DBS (DBSM.SI), Oversea-Chinese Banking Corp (OCBC.SI) and United Overseas Bank (UOBH.SI), Basis Point, a Thomson Reuters service, said, citing banking sources.

Wilmar says there wonâ€™t be Hong Kong listing â€˜for a whileâ€™

July 6th, 2010 | No Comments

Wilmar International won’t consider a Hong Kong listing “for a while”, because the market has come down, Chief Executive Officer Kuok Khoon Hong said at a news briefing in Singapore today.

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Wilmar hopes to grow sugar business in Indonesia, Brazil

July 6th, 2010 | No Comments

Singapore’s Wilmar International (WLIL.SI), the world’s largest listed palm oil firm, said on Tuesday it was keen to grow its sugar business by setting up operations in Indonesia and Brazil.

Wilmar to invest US$2b in Indonesia, investment board says

June 21st, 2010 | No Comments

Wilmar International, the world’s largest palm oil trader, plans to invest US$2 billion ($2.75 billion) in Indonesia, the Information Ministry said on its website, citing Gita Wirjawan, head of the nation’s investment board.

Wilmar may invest in various industries, including agriculture in Merauke, a town on Papua island, Wirjawan was cited as saying today. Max Ramajaya, a business-development manager at Wilmar’s local unit, said by phone that the company may build a sugar plantation, possibly in Merauke, without confirming the US$2 billion figure.

Wilmar says own records of Indonesian VAT â€˜will stand scrutinyâ€™

May 19th, 2010 | No Comments

Wilmar International said the company’s internal records for value-added tax refund claims in Indonesia “will stand scrutiny”, according to a stock exchange statement today. The world’s largest palm oil trader said it was responding to recent media reports on the matter, reiterating and expanding on comments made yesterday. The company’s stock slumped 7% in Singapore today.

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Wilmar shares fall as Jakarta Globe reports tax probe: Update

May 19th, 2010 | No Comments

Wilmar International, the world’s biggest palm-oil trader, fell by the most in 17 months in Singapore trading after the Jakarta Globe said its parent was being investigated in Indonesia.

The parent faces a probe for possible tax fraud involving as much 3.6 trillion rupiah ($549 million), the Jakarta Globe said yesterday, citing documents provided by lawmaker Bambang Soesatyo. Wilmar said the tax claims by media reports, which it didn’t identify, were “untrue and unsubstantiated.”

Wilmar shares fall as Jakarta Globe reports tax probe: Update

May 19th, 2010 | No Comments

Wilmar International, the world’s biggest palm-oil trader, fell by the most in 18 months in Singapore trading after the Jakarta Globe said its parent was being investigated in Indonesia.

The parent faces a probe for possible tax fraud involving as much 3.6 trillion rupiah ($548 million), the Jakarta Globe said yesterday, citing documents provided by lawmaker Bambang Soesatyo. Wilmar said the tax claims by media reports, which it didn’t identify, were “untrue and unsubstantiated.”

Wilmar looking into tax fraud claim

May 18th, 2010 | No Comments

Wilmar International (WLIL.SI), the world’s largest listed plantation company, said on Tuesday it was looking into media reports that it had colluded with tax officials to obtain fraudulent tax refunds.

Two Indonesian newspapers, quoting Indonesian lawmaker Bambang Soesatyo from the Golkar Party, said Singapore’s Wilmar had received or was due to receive total “questionable” tax refunds worth 3.6 trillion rupiah ($534 million) over the three years from 2007 to 2009.

Wilmar profit increases on higher palm-oil demand: Update

May 12th, 2010 | No Comments

Wilmar International, the world’s biggest palm-oil trader, said first-quarter profit rose 5.6% as the economic recovery boosted demand and prices.

Net income rose to US$401.4 million, or 6 cents a share, in the three months ended March 31 from US$380 million ($554 million), or 6 cents, a year earlier, the Singapore-based company said today in a statement. Sales increased 36% to US$6.8 billion.

Wilmar lets unitâ€™s HKEX listing application lapse

February 1st, 2010 | No Comments

Wilmar International, the world’s biggest palm-oil trader, says Wilmar China’s listing application to The Stock Exchange of Hong Kong has lapsed.

“The Company has no current intention to submit a fresh listing application to the HKEX for the listing of Wilmar China. It is to be noted that in accordance with HKEX’s guidance letter HKEX-GL7-09 (July 2009), HKEX considers any new application submitted within three months of a lapsed application as a renewal/continuance of the original application,” says Wilmar in an SGX statement.

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Posts Tagged ‘wilmar international’

Wilmar +1.2%; Briefing calms some property JV fears

Wilmar buys 20% stake in FFM Bhd for $157m

Wilmar acquires Minsec Engineering Services Sdn Bhd for $6.8m

Wilmar drops in Singapore after profit falls 60%

Wilmar drops in Singapore after profit falls 60%

Commodities stocks down after Wilmar result

Australia approves Wilmar application for ownership of Sucrogen

Wilmar unit to pay $80.36m for 20% stake in Kencana Agri

Wilmar posts first quarterly profit drop since 2006: Update

Wilmar International posts 15% fall in 2Q net profit to $469m

Wilmar seeks US$1b loan for sugar buy: Basis Point

Wilmar says there wonâ€™t be Hong Kong listing â€˜for a whileâ€™

Wilmar hopes to grow sugar business in Indonesia, Brazil

Wilmar to invest US$2b in Indonesia, investment board says

Wilmar says own records of Indonesian VAT â€˜will stand scrutinyâ€™

Wilmar shares fall as Jakarta Globe reports tax probe: Update

Wilmar shares fall as Jakarta Globe reports tax probe: Update

Wilmar looking into tax fraud claim

Wilmar profit increases on higher palm-oil demand: Update

Wilmar lets unitâ€™s HKEX listing application lapse

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