|Bid||3.6300 x 0|
|Ask||3.6500 x 0|
|Day's range||3.6100 - 3.6900|
|52-week range||2.9700 - 3.6900|
|Beta (3Y monthly)||0.45|
|PE ratio (TTM)||20.45|
|Earnings date||6 May 2019 - 10 May 2019|
|Forward dividend & yield||0.10 (3.17%)|
|1y target est||2.59|
SINGAPORE (Apr 10): OCBC Investment Research is keeping Wilmar International at “hold” given the group is expected to report its 1Q19 results in about a month’s time, during which it may see a negative impact on earnings due to weak soybean crush margins. This is the result of a sharp decline in meal demand from the outbreak of African swine fever in China and a sharp drop in Brazilian soybean basis, according to OCBC analyst Low Pei Han in a Tuesday report. “As such there could be some caution in trading prior to the lead up of the results,” says Low of OCBC who has a $3.44 fair value.
SINGAPORE (Mar 11): Wilmar International is acquiring the remaining 50% stake in FPW Singapore Holdings it does not already own from Oceanica Developments for US$180 million ($244.55 million). FPW Singapore Holdings indirectly wholly owns Goodman Fielder and its companies which manufacture, market, and distribute food ingredients and consumer branded food, beverage and related products.
Asia’s leading agribusiness giant Wilmar International (Wilmar) posted its FY18 results after the market closed on 21 February 2019. When the market reopened the following day, Wilmar’s stock gapped down from a 52-week high of $3.40 to $3.26, registering a negative four percent post-earnings performance.
SINGAPORE (Feb 22): RHB Research is keeping Wilmar International as its top plantation sector and country pick despite a tough 4Q18.
Wilmar International Ltd shares fell more than 4 percent on Friday after the Singapore-listed commodity trader said its quarterly net profit halved, mainly due to a provision linked its Australian sugar assets. Reporting October-December earnings late on Thursday, Wilmar made a provision for a $138.6 million impairment on its goodwill and sugar milling assets in Australia, citing ongoing depressed sugar prices, in the fourth quarter.
SINGAPORE (Feb 21): Wilmar International saw its earnings fall 52.9% to US$200.9 million ($271.5 million) for the 4Q18 ended December, from US$426.7 million a year ago. Wilmar incurred a non-operating loss of US$129.8 million during the quarter, compared to a non-operating gain of US$65.5 million a year ago. This was mainly due to lower commodity prices, even as the group continued to report growth in sales volume for all segments.
Some of the world's major palm oil users, including Nestle, Unilever, and Mondelez, are trying out new satellite technology to track deforestation, as pressure grows on them to source the ingredient responsibly. Palm oil buyers have toyed with satellite imagery for years, but have now ramped up their use as they rush to meet a pledge of zero net deforestation by 2020, set by global umbrella body the Consumer Goods Forum.
SINGAPORE (Jan 10): RHB Research is keeping Wilmar International as its “top pick” for exposure to the plantation sector despite an unexciting year ahead for CPO prices. “We believe Wilmar will outperform the sector as its exposure to the downstream space could help to mitigate the lower earnings in the plantation segment,” says analyst Juliana Cai in a Thursday report. In addition, the potential A-share listing of its China operations could unlock some latent value in the stock through special dividends and a share price rerating, adds the analyst. “Maintain ‘buy’ and $3.58 target price, 13% upside, with 3% FY19F yield,” says Cai. Wilmar currently derives 50% of its revenue from China. Since the acquisition of Kuok Group’s oils & grains business in 2007, the company has grown rapidly in China, with a revenue CAGR of 10%. At present, the group is the largest edible oil refiner, rice and flour miller, and specialty fats cum oleochemicals manufacturer in China. It is also a leading oilseed crusher, and has the largest market share for China’s branded consumer pack oils, rice and flour. Unofficially, valuation of A-shares IPO is capped at 23x historical P/E. Assuming Wilmar floats 10% of its China operations at 20x FY18F P/E, the group is expected to raise US$1.3 billion ($1.8 billion). “If 40% of the proceeds are paid out to investors, this will translate to a special dividend of 11 cents per share,” says Cai. At 20x FY18F P/E, RHB estimates the China entity could be listed with a total market capitalisation of $12.8 billion or 87% of Wilmar’s current market cap. Using a SOP valuation, Wilmar’s stock could be worth $4.37 after a rerating, implying 37% upside from the current level, adds Cai. Elsewhere outside China, exposure in downstream palm products should mitigate unexciting CPO prices this year. For instance, rising biodiesel mandates in Malaysia and Indonesia should also benefit Wilmar. Since biodiesel has higher margins, Cai believes this could help mitigate the effect of soft CPO prices. However, low crude oil prices may reduce demand for discretionary blending. As at 11.21am, shares in Wilmar are trading at $3.22, 2 cents lower compared to its Jan 10 2018.
* Thailand falls after energy stocks down on oil slump * People were hoping Fed would extend a lifeline - analyst * Indonesia leads losses in the region By Rashmi Ashok Dec 20 (Reuters) - Southeast Asian ...
Wilmar International Price – $3.16 Target – $3.58 Crude palm oil (CPO) prices have surprised us on the downside reaching a low of RM1,717/tonne attributable to the continued rise in CPO stock levels in Malaysia as well as the decline in crude oil prices recently. As such, our in-house CPO price forecasts are now reduced […]
SINGAPORE (Dec 11): Wilmar International last week signed a joint statement with Aidenvironment Asia, a not-for-profit consultancy in the field of sustainable production and trade, to reaffirm its commitment to “break the link between oil palm cultivation and deforestation, peatland development and social conflicts”. The Dec 7 document was primarily signed between Wilmar chairman and CEO Kuok Khoon Hong and Eric Wakker, Aidenvironment’s co-founder. It comes with Wilmar’s plans to immediately suspend suppliers found involved in deforestation or new development on peatland from Jan 2019, under plans to continue implementing its ‘no deforestation, no peat, no exploitation’ (NDPE) policy.