Pins matching tag:Wilmar

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.

Lence Pte agrees to buy between 11% and 20% of AWL Agri Business from Adani Commodities at Rs 275 a share, replacing the December option, while Adani places its other 10.42% with investors.

Indonesian police named the president director, factory head and quality-control head of Wilmar's rice unit PT Padi Indonesia Maju suspects for selling premium rice under Fortune, Sania, Siip and Sovia that failed quality and weight standards.

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.

The Jakarta anti-corruption court jailed the general manager of Wilmar's PT Duta Sugar International for four years over 2016 raw-sugar imports, and his company's Rp 41.2 billion deposit was forfeited as restitution.

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.

Lence Pte completes its purchase of 168,958,219 AWL Agri Business shares from Adani Commodities at Rs 275 each, about Rs 46.5 billion, making the Fortune maker a 56.94%-owned Wilmar subsidiary.

Adani Commodities sells its final 90,977,502 AWL Agri Business shares in a bulk deal on the exchange floor, leaving Wilmar as the Fortune maker's only promoter group.

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.

Wilmar's China arm sells its 50% stakes in Yihai Kerry Kellogg's Food (Shanghai) and (Kunshan) to Mars Wrigley China for US$45 million and US$15 million, after Mars bought Kellanova.

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.

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.

Wilmar's Indian sugar arm makes Kamboj chief executive from 23 March and managing director from 1 April 2026, as executive chairman Atul Chaturvedi, a former Adani Wilmar CEO, becomes a non-executive director.

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.

Wilmar's lead independent director defended the risk committee he chairs over the China and Indonesia cases and won 95.9% of votes; Kuok Khoon Hong said he would retire if a suitable successor emerged.

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.

A Moscow court ordered the state seizure of Rusagro founder Vadim Moshkovich's assets, sweeping in a 24% stake in oils-and-fats company JSC Etalon held by LLC Profit, which Wilmar says it half-owns and has an option to take over.

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.

Two Wilmar companies sign supply, brand-licence and staff-transfer agreements: from 1 July 2026 AWL sells Madhur sugar across India while Shree Renuka keeps making it and owns the brand, for a 1% royalty.

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.