Wilmar

Wilmar: may be in focus after it entered a 50:50 JV with Clariant for production and sales of amines and amines derivatives. OCBC says the JV contributions likely won't come through immediately, but it's a step in the right direction. Notes Wilmar is venturing out of its traditional business and into some of the more higher-value added (businesses); adds Wilmar has been been talking about oil and chemicals for awhile. OCBC notes the release had no mention of expected sales volumes or how big the market is; says the venture is going to be quite specialized. While margins may be quite high, doesn't expect volumes to be there. For the stock's performance, however, the house believes people will still be more concerned about Wilmar's oilseed and grains business, especially crush margins in China. Wilmar is flat at $3.15.