Wilmar: At an analyst briefing, Wilmar CEO highlighted that palm oil margins are improving but crushing margins remain under pressure worldwide, which will impact 3Q earnings. Mgmt commented that acquiring big tracts for CPO plantations will be difficult in the future. On M&A front, no agreement has been made, but is still in discussions to buy stake in Kencana. Co aims to plant 10k ha of oil palm in 2H & is constantly looking out for attractive investment opportunities.
The group appears to be on an expansion path with its proposed acqn of Sucrogen (sugar plantations/mill in Aust & Indon) & Natural Oleochem in M’sia.
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