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Aletheia Capital downgrades Wilmar to ‘sell’, cuts target to S$2.50 on legal woes
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Aletheia Capital downgraded Wilmar International to 'sell' and cut its target price to S$2.50 due to legal issues affecting earnings recovery and balance sheet flexibility. A Chinese court ruling on contract fraud and an Indonesian corruption case have heightened reputational risks. Analyst Nirgunan Tiruchelvam noted impaired earnings visibility and reduced revenue estimates, with shares trading down 1.2% at S$3.21.
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