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UOB KH maintains ‘buy’ on Wilmar, highlights ESG practices

Lim Hui Jie
Lim Hui Jie7/7/2022 06:24 PM GMT+08  • 3 min read
UOB KH maintains ‘buy’ on Wilmar, highlights ESG practices
UOBKH highlighted that catalysts for the company include a stronger recovery in China operations, among others.
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UOB Kay Hian’s Leow Huey Chuen and Jacquelyn Yow have maintained an unchanged “buy” rating and target price of $5.50 on the stock, pointing at the company’s ESG practices that “drive more positive impact.”

In a July 7 note, the analysts note that the company is one of the best in sustainable practices in the palm industry, being listed in the World Dow Jones Sustainability Index, among others.

As of December 2021, 98.2% (23.6 million tonnes) of Wilmar’s palm oil is traceable to the mills, and 83.5% of volume across Wilmar’s global supply chains is from suppliers that have at least company group-level commitment/action plans to address No Deforestation, No Peat and No Exploitation (NDPE) requirements.

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