Temasek bought Olam stocks, this was the news which greeted investors after Olam lifted its trading halt this morning. As a result of Temasek’s purchase, Olam stock price headed north even further beyond $2 a share. Temasek’s purchase of Olam stocks lent some excitement on the local bourse which has been seeing lacklustre trading. Prior to Temasek’s offer and purchase, the four local commodities stocks (WONG or GOWN) depending which stock you list first: Wilmar, Olam, Noble Group and Golden Agriculture have been enjoying rallies in their stock prices with a consumer-hungry China company acquiring stakes in Noble Group. Analysts have then given their take that WONG in this order will benefit from China and the global consumption of commodities.
A local stocks writer has even written in the local newspapers that these four-commodities counters, especially Wilmar might be take-over targets. The comments of the stocks commentator has indeed been ......