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tongphlp
Supreme |
03-Jun-2026 14:56
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Published:
1 hour ago
 Wilmar forms 50:50 joint venture with TGI Group in West AfricaThe JV links upstream agriculture with processing and distribution assets. Wilmar International has entered into definitive agreements with Tropical General Investments (TGI) Group to combine their respective operations in Nigeria and the Republic of Benin into a 50:50 joint venture, according to a joint company statement. The joint venture will be structured through a Singapore-incorporated holding company jointly owned by both parties. The transaction will consolidate a portfolio of businesses spanning upstream agriculture, oil palm plantations, edible oils, rice, culinary products, food manufacturing, and distribution across both markets. " Nigeria and the Republic of Benin are key consumer markets in Africa, supported by a population of more than 260 million and sometimes experience structural deficits in both food production and distribution," said Kuok Khoon Hong, chairman and CEO of Wilmar International. The companies said the combined platform will operate across upstream agriculture, processing, manufacturing, and branded distribution, with an addressable market of over $15.26b (US$12b) in Nigeria and Benin.
" This partnership is about combining strong operating businesses and building a long-term platform for growth that can scale with the needs of consumers and markets across Africa," said Rahul Savara, co-founder and group managing director of TGI Group. Completion of the transaction is subject to customary conditions, including regulatory and merger control approvals, and is expected in the financial year ending 31 December 2026, the company said. |
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tongphlp
Supreme |
03-Jun-2026 11:05
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2026052917520539368627_en.pdf NEWS RELEASE Wilmar Upsizes Syndicated Loan Facility to USD1,800 Million |
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tongphlp
Supreme |
03-Jun-2026 10:45
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NEWS RELEASE WILMAR INTERNATIONAL FORMS JOINT VENTURE WITH TGI GROUP FOR WEST AFRICAN AGRI AND FOOD BUSINESSES SGX Announcements &ndash Wilmar International Limited Singapore, 2 June 2026 &ndash Wilmar International Limited (&ldquo Wilmar&rdquo ) is pleased to announce that it has entered into definitive agreements with Tropical General Investments Group (&ldquo TGI Group&rdquo ) to combine the parties&rsquo respective Nigerian and Republic of Benin operating businesses, into a single integrated platform through a new 50:50 joint venture (the &ldquo Transaction&rdquo ). Pursuant to the definitive agreements, Wilmar and TGI Group will contribute a portfolio of complementary operating businesses and brands in Nigeria and the Republic of Benin to the joint venture, spanning upstream agriculture, oil palm plantations, edible oils, edible nuts, rice, culinary, food manufacturing and nationwide distribution amongst others, with an addressable market size of over US$12 billion across the focus categories in Nigeria and the Republic of Benin. The combined platform will bring together well-established consumer brands, significant processing capacity, deep local operating capabilities and extensive route-to market infrastructure across West Africa, creating an integrated business with meaningful scale across the agricultural value chain from cultivation and processing through refining, manufacturing and branded consumer distribution. At its core, the platform is built around a shared goal: to provide quality food and consumer products at affordable prices for consumers across West Africa, by combining global expertise with large local manufacturing capability. The combined businesses will be held by a Singapore holding company jointly owned by Wilmar and TGI Group on an equal shareholding basis. Completion of the Transaction is subject to the satisfaction of customary conditions precedent, including receipt of relevant merger control and regulatory clearances, and is currently expected to take place during the financial year ending 31 December 2026. Commenting on the Transaction, Mr. Kuok Khoon Hong, Chairman & CEO of Wilmar, said: &ldquo Nigeria and the Republic of Benin are key consumer markets in Africa, supported by a population of more than 260 million and sometimes experience structural deficits in both food production and distribution. The combination of Wilmar&rsquo s integrated palm oil and specialty fats capability and its global scale in food staples and consumer goods, with TGI Group&rsquo s manufacturing scale, established consumer brands and nationwide distribution platform, creates a uniquely positioned business to serve African consumers and to contribute to the long-term development of the region.&rdquo Mr. Santosh Pillai, Wilmar&rsquo s Africa Head added: &ldquo This transaction represents a compelling strategic fit for Wilmar in Africa. TGI Group brings strong local execution capabilities, established consumer brands and a deep distribution network, which are highly complementary to Wilmar&rsquo s upstream and processing strengths as well as portfolio of trusted brands. Together, we are creating an integrated platform with the scale, local insight and operating depth to better serve consumers in Nigeria and the Republic of Benin to support the long-term development of the region&rsquo s food and agriculture sectors.&rdquo Mr. Cornelis G. Vink, Founder and Chairman of TGI Group, added: &ldquo For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. The combination with Wilmar&rsquo s Nigerian businesses brings together two highly complementary platforms, built on delivering high quality locally manufactured food products across the sub region. This partnership will leverage Wilmar&rsquo s global scale and expertise as well as TGI&rsquo s local knowledge to deliver innovative food solutions across Africa.&rdquo Mr. Rahul Savara, Co - Founder and Group Managing Director of TGI Group, added: &ldquo This partnership is about combining strong operating businesses and building a long-term platform for growth that can scale with the needs of consumers and markets across Africa. By bringing together Wilmar&rsquo s global food and agribusiness expertise with TGI Group&rsquo s deep local execution capabilities, strong brands and extensive route-to-market, we are laying the foundation for a business that can expand sustainably, deepen regional value chains and create enduring value across the continent for decades to come.&rdquo About Wilmar International Limited (www.wilmar-international.com) Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia&rsquo s leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalization on the Singapore Exchange. At the core of Wilmar&rsquo s strategy is an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity business, from origination, to processing, branding, merchandising and distribution of a wide range of edible food and industrial products. The Group' s business activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, manufacturing of consumer products, ready-to-eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel and fertilizers as well as food park operations. It has over 1,000 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies. Supported by a multinational workforce of about 100,000 people, Wilmar embraces sustainability in its global operations, supply chain and communities. About Tropical General Investments Group (www.clicktgi.net) Tropical General Investments Group is a diversified conglomerate with over four decades of operating history in Nigeria and the broader West African region amongst others. The Group operates across Agriculture, Food processing, FMCG manufacturing, Distribution, Chemicals, Poultry Farming, Real Estate, Financial Services etc., serving millions of consumers across the region through a portfolio of leading household brands. These brands are underpinned by the Group&rsquo s long-standing commitment to sustainability and to the communities in which it operates. TGI Group&rsquo s operations extends beyond West Africa into other key emerging and developing markets including India, UAE etc., supported by large manufacturing and distribution operations and a diverse workforce of over 25,000 people. Media Contacts Wilmar International Limited Ms. LIM Li Chuen / Mr. LIM Jun Yi Head, Investor Relations & Corporate Communications / Senior Executive, Corporate Communications Ms. LIM Li Chuen / Mr. LIM Jun Yi +(65) 6507-0592 / +(65) 6216-0797 [email protected] / [email protected] |
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tongphlp
Supreme |
03-Jun-2026 10:38
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sky is falling
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tongphlp
Supreme |
02-Jun-2026 14:00
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can' t agree more with this article...it' s june and true enough, the share price is being ' crushed'
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tongphlp
Supreme |
02-Jun-2026 11:53
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coming soon...to a theatre near u..
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tongphlp
Supreme |
02-Jun-2026 11:44
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need 2 put up their bldg at biopolis for sale...
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shk363
Elite |
02-Jun-2026 11:37
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going broke paying fines and penalties | ||||
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tongphlp
Supreme |
02-Jun-2026 11:29
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SGX may trigger circuit breaker.... sky is falling
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geographic
Senior |
02-Jun-2026 11:26
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Unable to extricate fast enough to get caught in the mess! Maciam quick sand. The drop is too fast and drastic. Before you know it is too late.
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tongphlp
Supreme |
02-Jun-2026 11:21
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 SUBSCRIBERS
&lsquo Quite alarming&rsquo : More companies must think about replacing their CEOs, boardsApac firms&rsquo significant lack of confidence in their renewal processes may spell trouble, warns Heidrick & Struggles&rsquo Terence Quek
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tongphlp
Supreme |
02-Jun-2026 11:05
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tumble back 3.17 levels
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tongphlp
Supreme |
02-Jun-2026 10:32
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heavy selling pressure
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tongphlp
Supreme |
02-Jun-2026 10:18
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best is stay out unless there' s a clear change of managenet
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geographic
Senior |
02-Jun-2026 09:41
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Kena gap down again. Going thru a very rough patch. Hope Mgmt can do something to reverse the bad luck. | ||||
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tongphlp
Supreme |
02-Jun-2026 09:14
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shd have departed long ago...for this is a hopeless company...alwats in law suits..
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Narujoe99
Member |
31-May-2026 14:51
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Wilmar&rsquo s Global Sugar Head Bohbot Departs After 15 Years By Mumbi Gitau (Bloomberg) -- Jean-Luc Bohbot, head of sugar trading at crop merchant Wilmar International, is leaving the company after 15 years with the firm, according to people familiar with the matter who asked not to be named discussing private information. Bohbot joined the Singapore-based firm in 2011 and helped set up the sugar division which now boasts of an annual trading volume of 16 million tons, according to a 2024 annual report. The reason for his departure wasn&rsquo t immediately clear. Wilmar did not immediately reply to a request for comment. Wilmar is one of the world&rsquo s top raw-sugar traders and holds stakes in refineries across multiple countries. The company, which is also a major palm oil refiner and trader, expanded into the sugar business in 2010 through the acquisition of Australian sugar producer Sucrogen.&hellip |
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tongphlp
Supreme |
31-May-2026 11:57
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$5 when it resumes trading on Tue? Asia rice prices surge 20% in May as war, weather threaten output | The Straits Times |
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Joelton
Supreme |
29-May-2026 10:48
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Wilmar shares tumble 10.5% in early trade amid Indonesia probe It is under investigation for suspected under-invoicing and transfer-pricing practices [SINGAPORE] Shares of Wilmar International : F34 -2.84% fell as much as 10.5 per cent in early trading, down S$0.37 at S$3.15 as at 9 am on Thursday (May 28). By 9.21 am, the counter had recovered to S$3.43, down S$0.09 or 2.6 per cent, after around 4.7 million shares changed hands. The Business Times reported on Tuesday that the company is among 10 crude palm oil (CPO) exporters under investigation for suspected under-invoicing and transfer-pricing practices. Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and or pay lower export taxes. Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore. He said that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country. Singapore-based Musim Mas is also under probe. The investigation is part of Jakarta&rsquo s broader effort to tighten control over strategic commodity flows. |
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Joelton
Supreme |
29-May-2026 10:47
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Wilmar says it has not received official notice of Indonesia probe into suspected export under-invoicing The company&rsquo s shares are down 4% as at midday, after falling 10.5% in early trading on Thursday [SINGAPORE] Wilmar International said in a bourse filing on Thursday (May 28) that it has not received official notification of being under investigation by the Indonesian authorities for suspected under-invoicing and transfer-pricing of exports. The agribusiness giant added that it is &ldquo working with the relevant authorities to understand their concerns&rdquo . &ldquo If and when we receive official notification... we will update the market accordingly,&rdquo said the company. The Business Times reported on Tuesday that the company is among 10 crude palm oil (CPO) exporters under investigation for suspected under-invoicing and transfer-pricing practices. Singapore-based Musim Mas is also under probe. Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and/or pay lower export taxes. Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore. He noted that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country. The investigation is part of Jakarta&rsquo s broader effort to tighten control over strategic commodity flows. Wilmar : F34 -3.98% declined as much as 10.5 per cent or S$0.37 to S$3.15 in early trading on Thursday. As at the midday trading break, its shares were down S$0.140 or 4 per cent at S$3.38. |
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