UOB Kay Hian Research analysts Leow Huey Chuen and Jacquelyn Yow Hui Li have kept their “buy” call on Wilmar International as the company continues its expansion into the central kitchen business.
In their March 31 note, the analysts point out that Wilmar and its Chinese subsidiary Yihai Kerry Arawana's (YKA) construction of the Central Kitchen Food Park (CKFP) in China has been expedited.
The first CKFP facility in Hanzhou has been completed and is in the trial production stage, while four more — located in Langfang, Xi’an, Chongqing and Zhukou — are currently under construction. The CKFP model in China may be duplicated in other countries that Wilmar has integrated operations in, such as India and Indonesia.
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