Wilmar

Wilmar: -1.2% at $3.27, likely tracking sharp declines in commodity stocks rather than reacting to its acquisition of a 27.5% stake in Moroccan sugar producer Cosumar S.A. for around $263m. Wilmar is trying to expand its reach in the sugar business, says OCBC, noting it also has sugar assets in Indonesia and Australia. It looks like they are quite intent on making sugar into another one of their core businesses. Add that the acquisition is relatively small for the co and doesn't expect Wilmar will need to do any fund-raising to finance the deal.