Wilmar International Subsidiaries Fined by Indonesian Court Over Cooking-Oil Shortage Saga

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Wilmar International Subsidiaries Fined by Indonesian Court Over Cooking-Oil Shortage Saga

MT Newswires09-29

Wilmar International (SGX:F34) said its subsidiaries were sentenced to a fine of 1 billion Indonesian rupiah for their role in alleged losses to the state during the 2021 cooking-oil shortage, and are required to pay compensation of 11.9 trillion rupiah, according to a Friday filing with the Singaporean bourse.

Shares of the company were down under 1% in Monday trading.

The fine was imposed on Wilmar's subsidiaries, Multimas Nabati Asahan, Multi Nabati Sulawesi, Sinar Alam Permai, Wilmar Bioenergi Indonesia and Wilmar Nabati Indonesia, the filing added.

The compensation has already been deposited with the Indonesian Attorney General's Office and will be subsequently deposited into the State Treasury, the filing said.

The penalty imposed by the court will be reflected in the company's third quarter ending Sept. 30, where it expects to report a net loss.

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Eatmi
·10-07
Good company & also received good dividend....
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