Wilmar: Deutsche has released a note highlighting that China will extend price caps to mid-Aug to keep prices stable ahead of Mid-Autumn Festival. Wilmar has clarified that the control is still in place even though news reports last wk reported the lifting of price caps on cooking oil...
Current control is done through moral suasion (verbal request) from officials without formal documents. House believes given high inflation rate of 5.5%, China will continue to impose caps on essential food products and operating environment will remain challenging. Deutsche maintains Hold with TP$5.42.
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