SINGAPORE (July 1): Wilmar International offers safe haven against uncertainty from the US-China trade war, given the group’s exposure to essential food categories, says Maybank KimEng.
Maybank says up to 90% of Wilmar’s revenues are generated in emerging markets. In China, Wilmar has market leading positions in essential food items such as cooking oil, flour, rice, sugar and animal feed inputs.
“This provides a defensible moat to take advantage of rising affluence as well as increasing demand for food quality and safety,” says analyst Thilan Wickramasinghe in a June 28 report.
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