Wilmar 04 (Feb 15 - Dec 17)

Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Tue Sep 05, 2017 8:28 am

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Is Wilmar turning into a Willie Wonka with it's latest acquisition?

Source: The Edge

https://www.theedgesingapore.com/wilmar ... 8-87358173
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Thu Sep 07, 2017 9:24 am

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Wilmar: Making acquisitions

Wilmar recently announced two acquisitions including a 50% stake in local chocolate and compounds manufacturer, Aalst Chocolate Pte Ltd.

Wilmar’s specialty fats division offers a range of products from chocolate fats to culinary fats.

With this acquisition, Wilmar is able to expand their offerings to bakery products and confectionery manufacturers and the JV will work on expanding the business portfolio of chocolate ingredients in Asia.

No financial details were shared and we do not expect material changes to our estimates for now.

The other acquisition was for a 50% stake in Three-A Qinhuandao Food Industries but no material impact on the group’s financial position is expected.

We anticipate further developments to be made in line with the group’s focus on key markets such as China.

Since the group’s results release, Wilmar’s share price had declined as much as 9% before recovering.

We also note that on 21 Aug, substantial shareholder Archer Daniels Midland increased their stake slightly from 24.3% to 24.9%.

We currently have a HOLD and FV estimate of S$3.68 on the stock.

Source: OCBC
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Tue Nov 14, 2017 9:02 am

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3Q17: Robust Results, Thanks To Oilseeds & Grains Division

3Q17 earnings came in within expectations, supported by strong oilseeds & grains performance.

The qoq jump in earnings was mainly due to strong oilseeds & grains sales volume and significant improvement in margins.

However, yoy performance was dragged down by the tropical oils division.

We remain positive on Wilmar’s long-term outlook on the expectation of a strong performance from the oilseeds & grains division.

Maintain BUY. Target price: S$4.10.

Source: UOBKH

https://research.uobkayhian.com/content ... 106d77bcca
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Tue Nov 14, 2017 9:15 am

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Wilmar: Steady performance

Wilmar reported a 0.4% YoY rise in revenue to US$11.1b in 3Q17, supported by increased sales from Oilseeds & Grains.

Net profit fell 5.7% YoY to US$370.0m while core net profit decreased 15.9% to US$323.7m in 3Q17.

Results were within expectations; 9M17 revenue and net profit accounted for 74% and 70% of our full year estimates, respectively.

The good performance in Oilseeds & Grains and strong contributions from associates were offset by weaker results in the Tropical Oils and Sugar businesses.

Looking ahead, management expects the good performance in the Oilseeds & Grains segment to continue into 4Q17, with crush margins and volume likely to remain positive.

Performance of the other major business segments is expected to be “satisfactory”.

We tweak our estimates and roll over our valuations to FY18 earnings, and our FV estimate eases from S$3.66 to S$3.51.

Source: OCBC
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Tue Nov 14, 2017 4:33 pm

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Kuok's Wilmar pushes China listing to 2019

KUALA LUMPUR: Robert Kuok controlled Wilmar International is now looking to list its China unit on the Shanghai Stock Exchange in the second half of 2019.


Source: The Star

http://www.thestar.com.my/business/busi ... 64lHIvs.99
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Wed Nov 15, 2017 11:15 am

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Buy On Weakness; Better Outlook

Wilmar’s share price fell 3.9% after the announcement of its 3Q17 results, in line with our expectation.

This weakness is not justified and the unlocking of its China business through an A-share listing by 2H19 will be a share price catalyst.

The tropical oils and oilseed and grains divisions should see better performances in 4Q17, while the sugar segment’s performance remains weak.

We expect 4Q17 net profit to be better qoq, on track to meet our expectation.

Maintain BUY. Target price: S$4.10.

Source: UOBKH

https://research.uobkayhian.com/content ... ab05737391
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Re: Wilmar 04 (Feb 15 - Dec 17)

Postby winston » Thu Nov 16, 2017 8:19 am

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Steady Performance

Source: The Edge

https://www.theedgesingapore.com/steady ... 2-87358173
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