Tue, Jul. 5, 12:42 PM
- Bunge (BG -1.2%) agrees to sell half its stake in oilseed crushing operations in Vietnam to Singapore's Wilmar International (OTCPK:WLMIF), the world's largest palm oil processor and one of the biggest soybean buyers, for an undisclosed sum.
- The sale creates a three-party joint venture with BG and Wilmar as equal 45% shareholders and Vietnam's Quang Dung retaining its existing 10% stake in the operations.
- BG says the deal will "create increased operating, marketing and logistics synergie," and will help the company "remain a low-cost operator with the highest efficiency possible."
May 9, 2013, 7:48 AMThai stocks (THD) continue to make new 19-year highs as the SET rises 0.4% to 1,621. In other regional action, Malaysian (EWM) equities lagged (-0.5%) for the second day in a row as the post-election euphoria wears off and stocks in Singapore (EWS) jump 0.6% on agribusiness earnings optimism (Olam OLMIF.PK +2.6%, Wilmar WLMIY.PK +1.2%). | May 9, 2013, 7:48 AM
May 8, 2013, 10:18 AMIn a reversal of Tuesday's action, Philippine stocks (EPHE +0.7%) rise 0.5%, recouping half of Monday and Tuesday's losses while Malaysian equities (EWM +0.3%) finally cool off after surging ~5% following Sunday's election. Elsewhere in the region, Thai stocks (THD +1.8%) rally 0.8% to a fresh 19-1/2 year high, while regional agribusiness heavyweight Wilmar (WLMIY.PK +2.4%) posts a 23% Y/Y increase in earnings, fueling a 0.9% bump for stocks in Singapore (EWS +0.8%). | May 8, 2013, 10:18 AM
Dec. 1, 2010, 9:22 AMMalaysian Palm Oil update: futures rise 2.5% to $1,100/ton, the highest since before the financial crisis. The news will not be welcome in China, the world's largest consumer of cooking oil, which has ordered its local suppliers to not raise prices. | Dec. 1, 2010, 9:22 AM | 4 Comments
Jul. 5, 2010, 10:43 AM