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Posts Tagged ‘Wilmar’

Wilmar lets unit’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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Singapore’s Wilmar says HK IPO plans off

February 1st, 2010 | No Comments
Wilmar International (WLIL.SI), the world’s largest listed palm oil firm, said it has no current plans to list on the Hong Kong stock exchange after a current listing application lapsed. 

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Wilmar rises after JPMorgan upgrades to ‘overweight’

January 26th, 2010 | No Comments

Shares of Wilmar International rose after JPMorgan Chase & Co. upgraded the stock to “overweight” from “neutral,” saying the company is well- positioned to expand operations in China and India.

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Wilmar says mulls sugar investment in Indonesia

January 14th, 2010 | No Comments
The world’s largest listed palm oil firm Wilmar International (WLIL.SI) said on Thursday it was in talks with various parties to invest in sugar cane plantations in Indonesia. 
 
The terms of any venture are yet to be finalised, the firm said in a statement to the stock exchange. 
 
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Wilmar International rated buy

January 14th, 2010 | No Comments

Nomura Research in a Jan12 research report says: “Despite the run-up, valuations for Wilmar still look reasonable considering the buffer from the expected contribution from the rice and flour businesses over the next few years. Using China Agri’s profitability as a benchmark, we expect Wilmar to deliver US$1.1 billion of earnings from the rice and flour businesses over the next five years.

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Jan 14: SPH, Wilmar, Yanlord, Dayen Environmental

January 14th, 2010 | No Comments

The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index dropped 1% to 2,888.38.

US stocks rose last night as investors bet on recently weakened technology and financial shares ahead of earnings from bellweathers Intel Corp (INTC.O) and JPMorgan Chase & Co (JPM.N), taking the Dow industrials to a fresh 15-month high.

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Wilmar unit, others to invest US$3b in Indonesia sugar industry

January 13th, 2010 | No Comments
Eleven firms, including a unit of palm oil giant Wilmar International (WLIL.SI), plan to invest a total of 27.5 trillion rupiah ($4.16 billion) in Indonesia’s sugar industry, a senior industry ministry official said today. 
The firms plan to develop 187,000 hectares of sugar cane plantations and build several sugar factories which will have total capacity to process 76,000 tonnes of cane per day, said Benny Wahyudi, director general of agro and chemical industries at the industry ministry.

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Wilmar, Golden Agri lead gains in Singapore on palm oil outlook

January 8th, 2010 | No Comments
Wilmar International and Golden Agri-Resources rose the most on Singapore’s Straits Times Index after Goldman Sachs Group Inc. raised its forecast for crude palm oil prices.
 
Wilmar, the world’s biggest palm oil trader, gained 3.1% to $6.97 as of 2:54 p.m. in Singapore, a three-month high. Golden Agri, the world’s second-biggest palm oil producer, jumped 3.4% to 60.5 cents, the highest since Aug. 1, 2008. Goldman Sachs predicted palm oil prices of US$850 ($1,189) a metric ton this year, higher than a previous forecast of US$800, and said prices may increase to US$950 next year.

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Wilmar, Noble top commodity picks for Nomura

December 11th, 2009 | No Comments

Singapore’s agricultural commodity plays have enjoyed a stellar run this year but investors may need to be more choosy next year, says Nomura.

“We may not see a repeat of the all-inclusive outperformance over the next year, and hence would advise investors to be stock specific in their approach,” says Nomura.

The brokerage says Wilmar International looks like a good bet for its franchise model, leadership in existing businesses and strong earnings support.

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Wilmar International to buy 16.7% stake in Three-A Resources

October 6th, 2009 | No Comments

Wilmar International, the world’s biggest palm oil trader, will invest 46.2 million ringgit ($18.3 million) for a 16.7% stake in Three-A Resources Bhd., a Malaysian food manufacturer.

Wilmar plans to subscribe to part of a private placement by Three-A, which is seeking to sell as much as 20% in new stock at 75 sen each, the Malaysian company said in a statement late yesterday.

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Wilmar says HK IPO timing depends on market conditions

September 30th, 2009 | No Comments

Wilmar (WLIL.SI), the world’s biggest listed palm oil producer, said today it is committed to a listing of its China operations in Hong Kong but there has been no decision on timing.

It said the timetable will depend on market conditions.

UBS and Bank of America-Merrill Lynch said in research reports earlier today that Wilmar will delay the IPO because of a volatile or weak Hong Kong IPO market.

Wilmar said in a statement that an extraordinary general meeting scheduled for Oct 2 in Singapore to consider the listing will take place as planned.

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Wilmar rises 1.2% as it applies for Hong Kong listing

August 3rd, 2009 | No Comments

Wilmar International (WIL SP), the world’s biggest palm oil trader, rose 1.2% to $6.06. The company said it has applied to list its China operations on the Hong Kong Stock Exchange.

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