True the valuation of many Asian holdcos is very attractive.
I would classify Wilmar International not really as a holding company though. More like an attractively valued company in a sector with highly valued subsidiaries (like KSB). I was looking for cheaper Asian alternatives to ADM. Wilmar International definitely fits that bill.
Not a position yet though. Not fully convinced the industry will become more attractive over time. In addition, the most important highly valued subsidiary is in China trading at 60 times earnings. Not giving much value to that :)
Clearly my favorite stock in the industry but is that enough? Jardine Matheson might be a better investment.
Very interesting idea. I would love it to be a little cheaper given the valuation of many Asian holdcos competing to get into the portfolio.
True the valuation of many Asian holdcos is very attractive.
I would classify Wilmar International not really as a holding company though. More like an attractively valued company in a sector with highly valued subsidiaries (like KSB). I was looking for cheaper Asian alternatives to ADM. Wilmar International definitely fits that bill.
Not a position yet though. Not fully convinced the industry will become more attractive over time. In addition, the most important highly valued subsidiary is in China trading at 60 times earnings. Not giving much value to that :)
Clearly my favorite stock in the industry but is that enough? Jardine Matheson might be a better investment.
interesting