Wilmar unfazed by China's economic slowdown

Its consumer pack business may even benefit.

According to OCBC Investment Research, China – Wilmar’s largest market – appears to be opting for slower growth this year to allow the government to solve fundamental problems hindering long-run development, according to President Xi Jinping. Wilmar insisted that its retail packs are 'fairly resilient' amidst such economic slowdown.

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However, we note that market still expects China to expand by 7.5% this year, which should not pose any issues for WIL’s consumer pack business. Management had previously said that retail packs are fairly resilient and may even benefit from more people choosing to cook at home rather than dining out.