Emerging catalysts for 2H21F
■ We see the listing of AWL and better 2H21 results as share price catalysts.
■ Wilmar said it is exploring various options to unlock value for shareholders.
■ Reiterate Add. Wilmar’s market cap of US$20.6bn is at a significant discount
to the value of its 90% stake (worth S$55bn) in YKA.