Wilmar in position for stronger fourth quarter

PETALING JAYA: Singapore-listed agribusiness group Wilmar International Ltd, which counts PPB Group Bhd as its largest associate shareholder, is anticipating a stronger fourth quarter.

The expectation is expected to be supported by a one-off gain from the planned sale of another 6.5% of its stake in Adani Wilmar in India by February 2025, potentially lower borrowing costs if US interest rates are cut and any recovery in China’s economy.

“The palm and laurics division should benefit from higher crude palm oil prices. Wilmar’s China segment is likely to see improved consumer sentiment and better soybean crush margins following the recent stimulus measures implemented by China’s government,” CIMB Research said.