Wilmar International, the world’s largest listed palm oil firm, said as the eve of the New Year 2011 that it will submit a joint bid to buy the land use rights for six sites in China’s northern province of Liaoning.
Wilmar will partner Kerry Properties and Shangri-la Asia, two firms linked to Malaysian billionaire Robert Kuok, in the bid.
Wilmar, controlled by Kuok’s nephew, earlier this month bought land in Liaoning in partnership with Kerry and Shangri-la, sparking a sell-off in its shares as investors questioned why an agricultural firm was diversifying into property.
So, what do you think?
Is this diversification natural?
Is there really no synergy?
I think the sell-out is just an over reaction.......
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