A court last month has acquitted Wilmar Group, Musim Mas Group and Permata Hijau Group of charges of misconduct in obtaining export permits in 2022

 

[SINGAPORE] Wilmar International maintained its innocence after four judges who cleared it &ndash as well as two other palm oil companies &ndash in a corruption case related to obtaining export permits, were reportedly arrested.

 

&ldquo We believe we are not guilty of the charges as our actions during that period to increase the supply of palm oil to the market, despite the additional cost incurred, was intended to help the government improve domestic supplies and reduce prices,&rdquo said Wilmar in a statement released after market closed on Monday (Apr 14).

 

A court last month acquitted the three companies &ndash Wilmar Group, Musim Mas Group and North Sumatra-based Permata Hijau Group &ndash of charges of misconduct in obtaining export permits in 2022.

 

A Reuters&rsquo report on Monday said that three judges who made the ruling were arrested on Sunday night, following the arrest of a local court&rsquo s chief judge on bribery charges in the same matter.

 

&ldquo To the best of our knowledge, investigations so far have not involved the Wilmar group or any of its employees, but we will assist in any investigation if we are called upon... We wish to reiterate that the Wilmar group has zero tolerance for corrupt practices,&rdquo said Wilmar.

 

The Attorney General&rsquo s Office (AGO) of Indonesia said on Saturday that prosecutors had arrested a chief judge of South Jakarta district court, who was allegedly paid 60 billion rupiah (S$4.7 million) to arrange for a favourable verdict by two lawyers for the companies. Some US$1.07 million was then allegedly paid to the three other judges.

&ldquo The bribe was given so that the judges would rule that it&rsquo s not a crime,&rdquo the authority noted. A court employee and two lawyers were also arrested at the same time.

 

The AGO said that it raided five locations in Jakarta last Friday and confiscated money in renminbi, Singapore dollars, US dollars, rupiah and ringgit, as well as Mercedes Benz and Ferrari cars, among other evidence.

 

The 2022 case revolved around the approval of export permits that did not meet requirements, and a failure to meet obligations at the time for domestic palm oil distribution.

A court last month has acquitted Wilmar Group, Musim Mas Group and Permata Hijau Group of charges of misconduct in obtaining export permits in 2022

 

[SINGAPORE] Wilmar International maintained its innocence after four judges who cleared it &ndash as well as two other palm oil companies &ndash in a corruption case related to obtaining export permits, were reportedly arrested.

 

&ldquo We believe we are not guilty of the charges as our actions during that period to increase the supply of palm oil to the market, despite the additional cost incurred, was intended to help the government improve domestic supplies and reduce prices,&rdquo said Wilmar in a statement released after market closed on Monday (Apr 14).

 

A court last month acquitted the three companies &ndash Wilmar Group, Musim Mas Group and North Sumatra-based Permata Hijau Group &ndash of charges of misconduct in obtaining export permits in 2022.

 

A Reuters&rsquo report on Monday said that three judges who made the ruling were arrested on Sunday night, following the arrest of a local court&rsquo s chief judge on bribery charges in the same matter.

 

&ldquo To the best of our knowledge, investigations so far have not involved the Wilmar group or any of its employees, but we will assist in any investigation if we are called upon... We wish to reiterate that the Wilmar group has zero tolerance for corrupt practices,&rdquo said Wilmar.

 

The Attorney General&rsquo s Office (AGO) of Indonesia said on Saturday that prosecutors had arrested a chief judge of South Jakarta district court, who was allegedly paid 60 billion rupiah (S$4.7 million) to arrange for a favourable verdict by two lawyers for the companies. Some US$1.07 million was then allegedly paid to the three other judges.

&ldquo The bribe was given so that the judges would rule that it&rsquo s not a crime,&rdquo the authority noted. A court employee and two lawyers were also arrested at the same time.

 

The AGO said that it raided five locations in Jakarta last Friday and confiscated money in renminbi, Singapore dollars, US dollars, rupiah and ringgit, as well as Mercedes Benz and Ferrari cars, among other evidence.

 

The 2022 case revolved around the approval of export permits that did not meet requirements, and a failure to meet obligations at the time for domestic palm oil distribution.

On Apr 7, Wilmar International chairman and CEO Kuok Khoon Hong grew his deemed interest in the global agribusiness by 598,900 shares at an average price of S$3.02 a share. This increased his total interest from 14.33 per cent to 14.34 per cent. Kuok has gradually increased his total interest in Wilmar from 12.94 per cent in October 2022. His preceding acquisition was on Feb 21, with 1,662,800 shares acquired at S$3.07 apiece.

 

On Apr 8, Wilmar non-executive and independent director George Yeo acquired 130,000 shares at an average price of S$3.04 a share. This increased his direct interest in the global agribusiness to 906,500 shares or 0.015 per cent. His preceding acquisition was on Feb 24, with 176,500 shares acquired at an average price of S$3.09 a share. Yeo was appointed to the Wilmar board in April 2024.