Wilmar

During analysts' briefing yesterday, Wilmar said it bought Australia's Sucrogen (in a debt-and-equity deal worth A$1.75 bn, edging out a rival bid from China's Bright Food Group) to kickstart sugar cultivation in Indonesia, where it has secured a 200,000ha concession in Irian Jaya. Notably, Indonesia is a prime mkt because price control keeps domestic sugar prices higher than intl prices, while its rapidly developing economy would boost sugar consumption to developed world levels.