Shares of Wilmar International dropped 4% to S$3.2 this morning on weaker performance in the first quarter of 2014, where its net profit crashed 49% to US$162 million from sales revenue of US$10.3 billion. At that price, Wilmar International has market capitalization of S$20.48 billion (US$16 billion), way below its equity of US$20.13 billion as at March 31, 2014.
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