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Wilmar International ( (SG:F34) ) has shared an announcement.
Wilmar International’s Indonesian subsidiary, P.T. Duta Sugar International, along with eight other sugar producers, faces legal charges by the Indonesian Public Prosecutor for allegedly causing financial losses to the state through unlawful sugar importation practices in 2016. The charges stem from actions taken under the directive of the then Trade Minister, who was later convicted but pardoned. The legal proceedings against the sugar producers are ongoing, with the outcome pending a court decision. Wilmar has stated that the financial impact of the deposit related to the charges is not material to the company, and it continues to support its detained General Manager.
The most recent analyst rating on (SG:F34) stock is a Hold with a S$3.00 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 engaged in the agribusiness industry. It is a leading producer and distributor of agricultural commodities, particularly focusing on palm oil, sugar, and other related products. The company operates globally, with a significant market presence in Asia, and is involved in the entire value chain of the agricultural commodity business.
YTD Price Performance: -0.30%
Average Trading Volume: 6,723,562
Technical Sentiment Signal: Sell
Current Market Cap: S$18.42B
For a thorough assessment of F34 stock, go to TipRanks’ Stock Analysis page.