Tuesday, February 22, 2011


Wilmar: Daiwa expects palm-oil stocks under its coverage to mostly record higher YoY 4Q net profit, thanks to an increase in CPO prices. However, expects net-profit margins to generally be compressed due to a progressive export tax on plantations in Indonesia. House maintains its Positive sector rating…..

Believe Wilmar International's 4Q10 net profit will surprise the market on the upside due to a rebound in the net profit for its China-based soybean-crushing operations. Expect its soybean price hedging to have been accurate during the qtr…

Rates the stock at Buy with $6.73 TP. Tips Indofood Agri's 4Q10 net profit to provide a negative surprise, due to its rainfall-impaired fruit yields and weak EBITDA margin for its cooking-oil division, rating stock at Neutral with a $2.50 TP.

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