COMPANY PROFILE

Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia's leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the SGX.

Wilmar's business activities include palm oil cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilizers manufacturing and grains processing. At the core of Wilmar's strategy is a resilient integrated agribusiness
modeal that encompasses the enture value chain of the agricultural commodity processing business, from origination and processing to branding,
merchandising and distribution of a wide range of agricultural products. It has over 450 manufacturing plants and an extensive distribution
network covering China, India, Indonesia and some 50 other countries. The group is backed by a multinational workforce of over 93,000 people.


For those who are interested in Oil Palm and consumer product, perhaps you can consider this counter.

Some of the Key Brands under Wilmar associates FFM in Malaysia are e.g. Neptune Cooking Oil, Seri Murni, Krystal Cooking Oil, Marina, Massimo, V-soy Milk, Massimo Bread etc...


WILMAR EARNINGS TRACK RECORD



Base on above table, revenue almost 10 folds within 7 years period and same goes for Earning per share. The decline in 2012 earnings was mainly contributed by decline in crushing margin (High Soybean Price) and Overcapacity in China crushing capacity in Oil Seeds segment. However, part of the decline in contribution from Oil Seed segment was being offset by Sugar Segment as shown in table below and i foresee the oil seeds segment will recover soon once soft commodities price soften.




INCOME STATEMENT






PLANTED AREA GROWTH



This post has been edited by darkknight81: May 29 2013, 08:50 PM

Wilmar International

http://www.wilmar-international.com/

plantation

Associates

http://www.kencanaagri.com/ir_analyst_coverage.html

Subsidiary & Associates


Sugar Business

Sucrogen - Australia
http://www.sucrogen.com/

PT JAWA MANIS - Indonesia
http://www.jawamanis.com/

Cosumar - Africa
http://www.cosumar.co.ma/index_en.php


Consumer Products

http://www.yihaikerry.net.cn/en/about/

http://www.goodmanfielder.com.au/

This post has been edited by darkknight81: May 25 2013, 08:05 PM

VERTICALLY INTERGRATED BUSINESS MODEL



This post has been edited by darkknight81: May 25 2013, 08:22 PM

M&A 2012

24-Apr-13
Tereos announces the ramping up of its partnership in china with Wilmar and a new joint venture in a corn
starch facility in Tieling.
Current Annual processing capacity of 700,000 tons of corn will be jointly controlled by (51% Wilmar / 49% Tereos).
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17-Apr-13

Wilmar acquired 27.5% stake in Cosumar SA for USD 263 MILLION.

Background of Cosumar :

Sole sugar supplier in Morocco. It has one of the largest sigar refineries in the world.

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1-Oct-2012
50:50 joint venture with Kellogg Foods (Shangh ai) for the manufacture,
Sale, and distribution of breakfast cereals and savoury snack in China.

Stregth - Globally recognised brands Kellogg's and pringles.

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11-Aug-110



This post has been edited by darkknight81: May 25 2013, 11:11 AM

SWOT ANALYSIS

STRENGTHS

- Dominant position in palm oil supply-chain market
- Advantage over other players through economies of scale. (E.g. purchasing of raw materials in bulk)
- Large area of maturing plantations and still expanding.
- Experienced management with strong track record.
- Strong shareholder base with major shareholders like PPB & ADM.
- Dominant market presence for downstream products in China (>40% cooking oils market share), India (20% market share), Indonesia (20% market share) and vietnam (> 50% market share) & Bangladesh (30% market share).
- Complementary business activities including shipping and fertilizers.
- Significant cost savings through proximity of plantations to refineries and favorable shipping routes.

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WEAKNESSES

- Management maybe divided among shareholders.
- Supernormal profits dependent on success of trading desk. Especially Oil Seeds segment.

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OPPORTUNITIES

- Conversion of large unplanted land bank for productive use.
- Further expansion into China and India.
- Expantion in other regions including Europe and Africa.
- Partnership with international brand due to its strong distribution networks.

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THREATS

- Volatility in CPO and COMMODITIES prices.
- Changes in government regulations and tax policies.
- Onset of crop disease could that damage plantations.
- Possible cap on consumer pack prices, especially in China.
- Logistical breakdown or civil strife.
- Political uncertainties especially between China and Japan.
- Rising refining capacity in Indonesia

This post has been edited by darkknight81: May 29 2013, 06:53 PM

Well done , brother.

Thanks for the valuable info.

BTW, u buy direct in Singapore or through Bursa ?

Buy through cimb itrade. Rate same as local.

Thanks.

In view of local political issue, I intend to put some into Singapore shares.

Some more of yr researches plse

Golden Agri, similar to Wilmar... but today 1Q result out, might be a bit hard to pick up cheap tomorrow...

Thanks

Indofood also similar business, dunno why the Indonesia core planter like sugar, they all moving into sugar cane plantation, Wilmar is the biggest after acquire sugar cane & sugar business in Aussie, the rest all plant in Indonesia. Some other smaller player listed at SGX also, generally cheaper, but their land more cheap than Malaysia I think.

Nice thread bro, .

I will contribute some too if I have time.

Can share some HK n China stocks.

Get bored with bursa stocks.

I shared it in my blog already .
Banks not bad, consumers stock still highly priced but become cheaper.
Retail hypermarket also not bad also.

Sorry for OT TS

This post has been edited by foofoosasa: May 13 2013, 08:27 PM

O I see ,thanks

Golden agri are not so diversify as Wilmar. Golden Agri are more on Oil Palm Cultivation, processing and packaging of cooking oil. Besides, they do involve in Oil Seed.

Whereas for Wilmar, i like their business model. Why?

It is because, they have their own fertilizer plant and brand. They produce their own fertilizer.
Besides, Wilmar have number of fleet to trasport their CPO. In short, they control the whole value chain starting from origination, cultivation,
transportation, packaging and consumer products.

Hence, they have better margins compare with competitors. Wilmar was the largest CPO processor and Oil seeds crushers World Wide and of course
in China. This will enable Wilmar to have a better bargaining power.

Recent partnership with Kellogg is very clear that how strong their distribution network was in China.

Foreign stocks are more volatile. This is what we call efficient market. So trader like me can earn more from this volatility.

To me they are kind of similar, with sizable operation of soy bean crunching in China (but that's not good business, not too profitable, especially Wilmar for last few Q), sugar cane & sugar is very seasonal, but doesn't seems to be contributing much, the majority of profit still come from palm oil. Maybe you are right, Golden Agri might not be as diversify as Wilmar, but I think that's focus .

Anyway, I hold both... plus Indofood...

HK don't have plantation stocks. The other reason is HK too far from us.

Invest in plantation also means invest in land indirectly.

Yup agree with you on the focus thing. Besides, i think Golden Agri has more room to growth. I also have Golden Agri bro I will create another topic for Golden Agri or maybe you should start Golden Agri topic. Besides, don't forgot Wilmar (Robert Kuok) have very good relationships with China. This is very important. Basically they have very strong network worldwide.

However, don't forget the power of Wilmar especially after their oil seed segment start to recover.