Wilmar International Limited

Wilmar International is an investment holding company. Co.'s segments include: merchandising and processing, which include palm and laurics, engaged in merchandising and processing of palm oil and laurics related products and oilseeds and grains, engaged in merchandising and processing of a range of edible oils, oilseeds and grains; consumer products engaged in packaging and sales of consumer pack edible oils, rice, flour and grains; plantation and palm oil mills, engaged in oil palm cultivation and milling; sugar, which includes milling engaged in milling of sugarcane; and others engaged in manufacturing and distribution of fertilizer products and ship-chartering services.
  • TickerF34
  • ISINSG1T56930848
  • ExchangeSingapore Exchange
  • SectorFood Producers
  • CountrySingapore
UOB
Adrian Loh Tzum Yung ...
  • Singapore Research Team

Strategy - Positioning for recovery

We believe that global equities have largely bottomed out thanks to governments’ and central banks’ swift move to release monetary and fiscal stimulus packages. The Singapore government has done a good job in attempting to protect individuals’ and corporates’ balance sheets. Exiting the “circuit breaker”, we advocate exposure to financially robust companies that are leveraged to the general economic recovery and/or pay a sustainable dividend. Year-end target for the STI is 2,760.

UOB
Adrian Loh Tzum Yung ...
  • Arsit Pamaranont
  • Chong Lee Len
  • Jacquelyn Yow Hui Li
  • Jie Ying Chloe Tan
  • John Cheong Ming Chern
  • Kwanchai Atiphophai
  • Leow Huey Chuen
  • Llelleythan Tan Tan
  • Loke Pei Hao
  • Peerawat Dentananan
  • Shaun Tan
  • Singapore Research Team
  • Stevanus Juanda
  • Tanadech Rungsrithananon

Regional Morning Notes - Wednesday, May 13, 2020

GREATER CHINA Sector Property: Housing market to pick up on lower mortgage rates. INDONESIA Strategy Signs Of A Potential Rebound: A steep decline in COVID-19 infection rates is key to the reversal of the current bear market. Our picks: ICBP, ROTI, UNVR, KLBF and TLKM. MALAYSIA Sector Plantation: MPOB Apr 20: Inventory back to 2m tonnes as production increases while domestic demand is at its lowest since May 13. Palm prices to remain under pressure. Initiation Coverage TIME dotCom (TDC MK/BUY/RM10.00/Target: RM11.10): A gem in a haystack. SINGAPORE Strategy Value Within Book Value: Tough bus...

UOB
Jacquelyn Yow Hui Li ...
  • Leow Huey Chuen

Wilmar International - Sustainable performance expected in 2Q20

1Q20 strong performance is expected to sustain into 2Q20, especially with support from the food products segment. Consumer pack sales are expected to record strong double-digit growth with better margins and customer stickiness, thanks to good product quality. Medium pack and bulk sales volumes are also recovering, especially for rice and flour. The YKA listing approval is in the final stages and the IPO pricing could be higher than 23x 2019 PE. Maintain BUY. Target price: S$4.00.

UOB
Adrian Loh Tzum Yung ...
  • Jacquelyn Yow Hui Li
  • John Cheong Ming Chern
  • Leow Huey Chuen
  • Llelleythan Tan Tan
  • Loke Pei Hao
  • Singapore Research Team

Singapore Daily - Wednesday, May 13, 2020

KEY HIGHLIGHTS Strategy Value Within Book Value: Tough business and economic conditions due to COVID-19 pandemic could lead to book value deteriorating in 2020. Companies that are at medium to high risk are highlighted. Results Riverstone Holdings (RSTON SP/BUY/S$1.62/Target: S$2.15): 1Q20: Strong beat; expect stronger quarters ahead from ASP hike. Update City Developments (CIT SP/BUY/S$7.96/Target: S$9.50): Looking for glimmers of hope in 1Q20. Wilmar International (WIL SP/BUY/S$3.82/Target: S$4.00): 1Q20 performance to sustain into 2Q20, driven by consumer packs and oilseeds & grains. YKA ...

UOB
Benyamin Mikael ...
  • Chaiwat Arsirawichai
  • Jacquelyn Yow Hui Li
  • Jayson Kong
  • Jonathan Koh
  • K Ajith
  • Kader Farhan Bin Kader Ridzwan
  • Ken Lee
  • Kong Ho Meng
  • Kowit Pongwinyoo
  • Leow Huey Chuen
  • Loke Pei Hao
  • Neo Chen Wentao
  • Nick Liu Sunliang
  • Peerawat Dentananan
  • Sandra Huang Jieqiong
  • Sarat Ruangtaweep Ruangtaweep
  • Shaun Tan
  • Tanaporn Visaruthaphong
  • Tham Mun Hon
  • Ziv Ang Sze Champ

Regional Morning Notes - Tuesday, May 12, 2020

GREATER CHINA Economics Money Supply: More to come from the PBOC’s arsenal. Sector Automobile: April auto sales return to positive growth, driven by CVs. Maintain MARKET WEIGHT. Top picks: Weichai, Brilliance, Yongda and DFM. Machinery: Apr 20: Excavator sales up 59.9% yoy; strong momentum to continue. Property Management: Redefining industry value. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp530/Target: Rp1,000): Trading at -2.5SD to 5-year mean discount to RNAV. MALAYSIA Results MISC (MISC MK/HOLD/RM7.90/Target: RM8.00): 1Q20: Major positive surprises from all segments, especially ...

UOB
Adrian Loh Tzum Yung ...
  • Singapore Research Team

Strategy - Positioning for recovery

We believe that global equities have largely bottomed out thanks to governments’ and central banks’ swift move to release monetary and fiscal stimulus packages. The Singapore government has done a good job in attempting to protect individuals’ and corporates’ balance sheets. Exiting the “circuit breaker”, we advocate exposure to financially robust companies that are leveraged to the general economic recovery and/or pay a sustainable dividend. Year-end target for the STI is 2,760.

UOB
Adrian Loh Tzum Yung ...
  • Arsit Pamaranont
  • Chong Lee Len
  • Jacquelyn Yow Hui Li
  • Jie Ying Chloe Tan
  • John Cheong Ming Chern
  • Kwanchai Atiphophai
  • Leow Huey Chuen
  • Llelleythan Tan Tan
  • Loke Pei Hao
  • Peerawat Dentananan
  • Shaun Tan
  • Singapore Research Team
  • Stevanus Juanda
  • Tanadech Rungsrithananon

Regional Morning Notes - Wednesday, May 13, 2020

GREATER CHINA Sector Property: Housing market to pick up on lower mortgage rates. INDONESIA Strategy Signs Of A Potential Rebound: A steep decline in COVID-19 infection rates is key to the reversal of the current bear market. Our picks: ICBP, ROTI, UNVR, KLBF and TLKM. MALAYSIA Sector Plantation: MPOB Apr 20: Inventory back to 2m tonnes as production increases while domestic demand is at its lowest since May 13. Palm prices to remain under pressure. Initiation Coverage TIME dotCom (TDC MK/BUY/RM10.00/Target: RM11.10): A gem in a haystack. SINGAPORE Strategy Value Within Book Value: Tough bus...

UOB
Jacquelyn Yow Hui Li ...
  • Leow Huey Chuen

Wilmar International - Sustainable performance expected in 2Q20

1Q20 strong performance is expected to sustain into 2Q20, especially with support from the food products segment. Consumer pack sales are expected to record strong double-digit growth with better margins and customer stickiness, thanks to good product quality. Medium pack and bulk sales volumes are also recovering, especially for rice and flour. The YKA listing approval is in the final stages and the IPO pricing could be higher than 23x 2019 PE. Maintain BUY. Target price: S$4.00.

UOB
Adrian Loh Tzum Yung ...
  • Jacquelyn Yow Hui Li
  • John Cheong Ming Chern
  • Leow Huey Chuen
  • Llelleythan Tan Tan
  • Loke Pei Hao
  • Singapore Research Team

Singapore Daily - Wednesday, May 13, 2020

KEY HIGHLIGHTS Strategy Value Within Book Value: Tough business and economic conditions due to COVID-19 pandemic could lead to book value deteriorating in 2020. Companies that are at medium to high risk are highlighted. Results Riverstone Holdings (RSTON SP/BUY/S$1.62/Target: S$2.15): 1Q20: Strong beat; expect stronger quarters ahead from ASP hike. Update City Developments (CIT SP/BUY/S$7.96/Target: S$9.50): Looking for glimmers of hope in 1Q20. Wilmar International (WIL SP/BUY/S$3.82/Target: S$4.00): 1Q20 performance to sustain into 2Q20, driven by consumer packs and oilseeds & grains. YKA ...

UOB
Benyamin Mikael ...
  • Chaiwat Arsirawichai
  • Jacquelyn Yow Hui Li
  • Jayson Kong
  • Jonathan Koh
  • K Ajith
  • Kader Farhan Bin Kader Ridzwan
  • Ken Lee
  • Kong Ho Meng
  • Kowit Pongwinyoo
  • Leow Huey Chuen
  • Loke Pei Hao
  • Neo Chen Wentao
  • Nick Liu Sunliang
  • Peerawat Dentananan
  • Sandra Huang Jieqiong
  • Sarat Ruangtaweep Ruangtaweep
  • Shaun Tan
  • Tanaporn Visaruthaphong
  • Tham Mun Hon
  • Ziv Ang Sze Champ

Regional Morning Notes - Tuesday, May 12, 2020

GREATER CHINA Economics Money Supply: More to come from the PBOC’s arsenal. Sector Automobile: April auto sales return to positive growth, driven by CVs. Maintain MARKET WEIGHT. Top picks: Weichai, Brilliance, Yongda and DFM. Machinery: Apr 20: Excavator sales up 59.9% yoy; strong momentum to continue. Property Management: Redefining industry value. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp530/Target: Rp1,000): Trading at -2.5SD to 5-year mean discount to RNAV. MALAYSIA Results MISC (MISC MK/HOLD/RM7.90/Target: RM8.00): 1Q20: Major positive surprises from all segments, especially ...

With a more favourable environment, WILMAR INTL.LTD. improves to Slightly Positive

WILMAR INTL.LTD. (SG), a company active in the Food Products industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 10, 2020, the closing price was SGD 3.84 and its potential was estimated at SGD 4.50.

Ford Equity International Rating and Forecast Report

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