Wilmar (F34.SG) remains best performer among Singapore blue chips, +2.3% at 4-session high of $5.88, on prospect of long-term revenue boost as plantation group ventures into sugar business with A$1.75 billion ($2.1 billion) purchase of CSR’s (CSR.AU) Sucrogen, according to Dow Jones.

Australia’s largest producer of raw sugar. UBS, which has Buy call with $8.00 target, says move enables Wilmar to diversify out of vegetables oils segment, deemed saturated by investors. “It’s (also) an opportunity to further leverage on Wilmar’s extensive distribution network in Asia, which remains a net importer of sugar.”

CIMB, which has Neutral call with $6.50 target, says purchase price fair given Sucrogen’s leading market position in Australia’s sugar business. Wilmar expects deal, due to be completed around September, to be earnings-accretive from first year of consolidation. Resistance at last week’s high of $6.00.