OCBC Investment research gave a buy call on Wilmar International with a target price of $7.51.
Some of the updates on Wilmar International included the Hong Kong IPO of China unit in October. With the proceeds, Wilmar International will have more "bullets" for making more acquisitions. According to the report, 40% of the proceeds will be used to expand production capacity, 35% for acquisition and the remaining to repay debt and as working capital.
For me, the Price Earnings Ratio at FY09F of 20 is abit too high for me to consider to enter into it this stock. It does have a good growth story though and I must say it will be making 2 of the 40 richest people in Singapore even richer.
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