21/06/2012 (TODAYonline) - Wilmar International, the world's largest palm-oil processor, climbed by most in two years on speculation the stock's valuation has become attractive following a slump, the Bloomberg news agency reported on Wednesday.

Wilmar rose as much as 7 per cent to S$3.80 on Wednesday, the biggest gain since January 2009, before closing up 4.2 per cent at S$3.70.

The stock has fallen 39 per cent from this year's peak on Feb 15 as the cooking oil maker posted net income that missed analyst estimates in the past two quarters.

"The valuations are not demanding, the stock has fallen quite a bit," said OCBC Investment Research analyst Carey Wong, who rates the stock a hold with a fair value of S$3.87. "From that standpoint, it does look cheap. It's a slightly more positive outlook because the stock has fallen way too much."