Pins matching tag:"Cooking Oil"

Indonesia's Attorney General named four suspects in a cooking-oil export-permit graft case, among them Master Parulian Tumanggor, a commissioner of Wilmar's unit Wilmar Nabati Indonesia, and the trade ministry's foreign-trade chief.

Indonesia's competition commission fined seven cooking-oil makers Rp 71.28 billion for restricting sales during the 2022 shortage, including Wilmar's PT Multimas Nabati Asahan (Rp 8.018 billion) and PT Sinar Alam Permai (Rp 3.365 billion).

Prosecutors named Wilmar Group, Permata Hijau Group and Musim Mas Group corporate suspects, saying the final ruling against their executives showed the companies caused Rp 6.47 trillion in state losses.

Wilmar's Lence Pte signs an option to buy up to 31.06% of Adani Wilmar from Adani Commodities at no more than Rs 305 a share, while Adani sells about 13% to the public, ending the Adani half of the Fortune joint venture.

A Central Jakarta anti-corruption court panel led by Judge Djuyamto found Wilmar Group, Musim Mas and Permata Hijau had done what prosecutors charged but ruled it was not a crime, rejecting a Rp 11.88 trillion restitution demand against Wilmar.

Prosecutors named the three judges who cleared Wilmar, Musim Mas and Permata Hijau as bribery suspects, alleging Rp 60 billion was arranged through lawyers and a court clerk to buy the verdict.

Prosecutors displayed stacks of cash from Rp 11.88 trillion (about US$729 million) handed over by five Wilmar subsidiaries, the biggest seizure in the AGO's history, while their appeal against Wilmar's acquittal was pending.

Wilmar agreed to take full ownership of PZ Wilmar, maker of Nigeria's market-leading Mamador and Devon King's cooking oils, buying out its UK partner for US$70 million in cash.

Indonesia's Supreme Court found five Wilmar subsidiaries guilty in the cooking-oil export case, fining each Rp 1 billion and ordering Rp 11.88 trillion (about US$709 million) in compensation, which Wilmar said would push it to a third-quarter loss.

With President Prabowo Subianto watching in front of about Rp 2 trillion in stacked banknotes, the Attorney General handed Rp 13.255 trillion recovered from Wilmar, Musim Mas and Permata Hijau to the finance minister.

An IDR 11.88 trillion (about US$712 million) payment ordered by Indonesia's Supreme Court turned the quarter into a US$347.7 million net loss, even as core net profit jumped 72%.

The Jakarta anti-corruption court sentenced judges Djuyamto, Agam Syarief Baharuddin and Ali Muhtarom to 11 years each for taking bribes to acquit Wilmar, Musim Mas and Permata Hijau; former court chief Muhammad Arif Nuryanta got 12.5 years.

The Jakarta anti-corruption court sentenced Muhammad Syafei, head of social security legal at Wilmar's Indonesian unit, to six years for helping channel about Rp 60 billion (US$4 million) in bribes to the judges who acquitted Wilmar.

On appeal, the Jakarta High Court raised the sentence of Wilmar's former legal head Muhammad Syafei from six to eight years and his fine to Rp 500 million for helping bribe the judges who acquitted Wilmar.

Prosecutors detained former Ombudsman member Yeka Hendra Fatika, accusing him of rewriting a 2022 cooking-oil report into ammunition for the palm oil companies' defence and of taking money from Wilmar Group.