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Wilmar International - Maybank Research 2025-09-29: Taking Pause Amid Regulatory Scrutiny; Downgrade To HOLD

Downgrade Wilmar To HOLD – Taking Pause Amid Regulatory Scrutiny

Published:
Wilmar (SGX:F34) | SGinvestors.io
  • Besides cooking oil case, Wilmar faces multiple probes in Indonesia. While we see the financial impact as modest, regulatory overhang and reputation risks cap upside, in our view.
  • Operationally, momentum is intact with 7%/13% FY24–27E revenue/NPAT CAGR, driven by resilient China demand and stable crush margins. Downside is further cushioned by attractive 10x FY1 P/E and 6% yield, with healthy balance sheet metrics.

    • Regulatory concerns cap Wilmar's share price upside.

    This is a partial preview of the article. The complete article, including further analyst commentary on the outlook, valuation, dividend forecast, stock rating, target price, and more, is available on SGinvestors.io. Read the complete article on SGinvestors.io.





    Hussaini Saifee Maybank Research | https://www.maybanktrade.com.sg/ 2025-09-29


    Read also Maybank's most recent report:
    2026-03-10 Wilmar International - Operational Resilience; Regulatory Risks Fading – Upgrade To BUY.

    Price targets by other brokers at Wilmar Target Prices.

    Listing of research reports at Wilmar Analyst Reports.

    Relevant links:
    Wilmar Share Price History,
    Wilmar Announcements,
    Wilmar Dividend Payout Dates & Corporate Actions,
    Wilmar News



    Wilmar Share Price Performance vs The STI
    Wilmar Share Price vs STI Performance

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