Mixed fortunes for S'pore-listed commodity traders
Wilmar remains an analyst 'top pick' for its cheap, historically-low valuations
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Singapore
PLUNGING commodity prices in 2014 had varying effects on Singapore-listed commodity traders - Wilmar International, Olam International and Noble Group - which reported mixed quarterly results last month.
Despite the commodities patch, for the three months ended Dec 31, 2014, compared to a year ago, Wilmar bucked the trend and recorded a net profit gain, even as revenues fell. Management has attributed the improvement to margin expansion on lower feedstock costs and growth in its downstream businesses.
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