Wilmar

Wilmar: OCBC maintains Hold with unchanged $3.25 TP. Expect no boost from Clariant JV. Adding that Wilmar’s share price did not show any positive reaction to the news. Instead, sentiments were likely depressed by continued concerns over the slowing economy in China. Nevertheless, house opt to keep forecasts for FY13 and FY14 intact for now; this as any downside risk is likely to be mitigated by a firmer USD.