Around $4 billion in value realisation has been announced: $3.4 billion from sale of Olam Agri, and another $0.7 billion or so from other divestments including its IT services unit Mindsprint.
Hussaini Saifee of Maybank Securities has initiated coverage on Olam International with a "buy" call and $1.60 target price, on the premise that the agri-food company is "one of the most compelling restructuring and management reset stories within the Temasek portfolio."
"Olam is moving from a complex agri conglomerate towards a much cleaner, scaled global ingredients platform, Olam Food Ingredients (ofi), while potentially unlocking more than $5 billion of capital along the way," flags Saifee in his May 4 report.
