Wilmar International Responds to Indonesian Court Appeal with $729 Million Deposit

An update from Wilmar International ( (SG:F34) ) is now available.

Wilmar International Limited has placed a security deposit of approximately USD 729 million in response to an appeal by the Indonesian Attorney General’s Office involving five of its subsidiaries. The appeal concerns allegations of financial harm and unauthorized profits during a cooking oil shortage in Indonesia between July and December 2021. The security deposit is part of the ongoing legal proceedings, and its return depends on the outcome of the Indonesian Supreme Court’s decision. Wilmar maintains that its subsidiaries acted in compliance with regulations and without corrupt intent.

The most recent analyst rating on (SG:F34) stock is a Hold with a S$3.44 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

More about Wilmar International

Wilmar International Limited is a Singapore-based company operating in the agribusiness sector. It is primarily involved in the production and distribution of agricultural commodities, with a focus on palm oil, sugar, and other related products. The company has a significant market presence in Asia, particularly in Indonesia.

Average Trading Volume: 5,976,567

Technical Sentiment Signal: Strong Sell

Current Market Cap: S$18.85B

For detailed information about F34 stock, go to TipRanks’ Stock Analysis page.