Pins matching tag:"Palm 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.

Core net profit fell 26% to US$1.16 billion, with weaker sugar merchandising and no repeat of the 2023 Cosumar sale gain; the total dividend was cut to S$0.16.

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.

The Science Based Targets initiative approves Wilmar's goals to cut absolute Scope 1 and 2 emissions 50.4% and Scope 3 emissions 30% by 2032 from 2022, and 90% by 2050, plus land-use (FLAG) targets.

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.

Food products and plantations lifted the quarter while tropical-oil refining stayed tough and sugar volume fell 41.5%; Wilmar warned US tariffs made the rest of the year uncertain.

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.

Plantations and food products drove a 26% jump in pre-tax profit, but core net profit slipped 4% and Kuok Khoon Hong said the full year hinged on Indonesian authorities resolving issues with the group.

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%.

A court in Huaibei found Yihai (Guangzhou) Oils & Grains, a unit of Wilmar's Yihai Kerry Arawana, guilty as an accessory to contract fraud, fining it RMB 1 million and making it jointly liable for RMB 1.881 billion; the company is appealing.

A US$1.14 billion gain from taking control of India's AWL Agri Business outweighed Indonesian compensation, Chinese legal provisions and a Pakistan write-down; the dividend was cut to S$0.14.

Revenue jumped 22% with India's AWL now consolidated, but unrealised hedging losses from the Iran war and weaker associates cut net profit to US$265.6 million.

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.

Wilmar will pool its Nigerian and Beninese plantations, edible-oil and food businesses with TGI Group's brands and distribution in a Singapore-held 50:50 venture targeting a US$12 billion market.

Stronger tropical-oil refining, Chinese soybean crushing and a first full half of India's AWL lifted pre-tax profit 13% to US$1.06 billion; the interim dividend rose to S$0.05.

Wilmar's third-quarter executive summary is due after trading in late October, the first quarter with a comparison against the 3Q2025 Indonesia-payment loss.

Wilmar's full-year 2026 results and final dividend are due after trading in late February 2027, the first full year with India's AWL Agri Business consolidated.