Olam (O32.SG) +3.3% at 8-session high of $3.17 on commodity trader's venture into sugar refining in Nigeria, where margins expected to be substantially higher than what company currently enjoys. 

UOB KayHian analyst Eugene Ng says as Olam has already developed capabilities in sugar business via past investments in sugar milling in India and sugar refining in Indonesia, execution risks in Nigeria should be low; “this investment adds to the pipeline of projects coming on stream and will provide further visibility into Olam's growth drivers moving forward.”