CGS-CIMB keeps 'add' call on Wilmar, says Chinese unit's value underestimated

Singapore

CGS-CIMB on Friday maintained its "add" call on Wilmar International despite a short-term overhang from this week's share sale by major stakeholder Archer Daniels Midland (ADM), adding that it remains positive on the planned listing of Wilmar's Chinese unit, Yihai Kerry Arawana (YKA).

CGS-CIMB also maintained its target price at S$5.53. Shares of the agri-food giant ended Friday at S$4.45, up S$0.09 or 2.1 per cent.