Internal developments include investments in “higher-value” savoury solutions in the Philippines and dairy ingredients in New Zealand which indicate ofi’s focus on building a differentiated food ingredients and solutions platform rather than a traditional agricultural processor.
Maybank Securities’ Hussaini Saifee remains steadfast in his positive view of Olam Group, maintaining his “buy” call at an unchanged target price of $1.60.
In a June 19 report, Hussaini states that recent developments, both internal and external, have reinforced the strategic direction of Olam Food Ingredients (ofi), the core remaining business of Olam, after divestments of Olam Agri and other subsidiaries of the conglomerate.
