Wilmar International, the Singapore-The agricultural giant has given 11.9 trillion Indonesian Rupiah (729 million US dollars) as a “security department” in relation to allegations of misconduct against palm oil export permits to Indonesia. Wilmar’s shares sank by 3% in the news and reached their lowest point in a decade.
Wilmar achieved sales of $ 67.4 billion last year, which rose by 0.3% compared to the previous year. The Agrifood giant achieved an annual profit of 1.2 billion US dollars, which means that its “deposit” of $ 729 million corresponds to around 60% of Wilmar’s total net income.
The Indonesian prosecutors accuse Wilmar, the bribe, to maintain permits in 2022 during a national cooking oil. While an Indonesian court wilmar and two other companies in March, the three judges were behind the judgment arrested When transplanted a month later.
The Attorney General Indonesia claims that corruption with these export permits cost the state of 12.3 trillion Rupiah (755 million US dollars).
On Tuesday Wilmar alleged That “all actions carried out by (Wilmar) during this time in connection with the export of cooking oil were carried out in accordance with the prevailing regulations.” Wilmar will get his “deposit” back if the Supreme Court of Indonesia adheres to the acquittal – but relocates the money when it loses the case.
“Wilmar paid the state losses that they caused” A press conference on Tuesday.
Indonesia accounts for about 60% of global palm oil supply. Raw arm oil is an important ingredient for food and household goods. In response to a noise oil shortage at the end of 2021 and early 2022, Indonesia performed strict export restrictions on palm oil. including A three -week export ban to obtain the local offer and the rising prices.
Wilmar is one of the world’s largest owners of oil palm plantations with a total area of over 230,000 hectares. It is one of the largest companies in the region that are classified in 4th place in the region in 4th place Assets’S Southeast Asia 500; It is also one of the few companies in the region that make it on the global 500. Assets’S ranking of the largest companies in the world after income.
Two thirds of the Wilmar oil palm plantations are located in Indonesia. In addition to palm oil and food oil, Wilmar also produces other food products such as rice, pasta and margarine for global markets.
