We Wilmar delivers $ 729 million as a “security deposit” for corruption in Indonesia, palm trees

Williar achieved revenue of $ 67.4 billion last year, an increase of 0.3 % year on year. The Agrifood giant received $ 1.2 billion of annual profits, which means that the “security deposit” of $ 729 million is about 60 % of the net Wilmar 2024 income.

Public prosecutors accuse the Indonesians and Lilmar of bribery officials to obtain permits in 2022, during a lack of national cooking oil. While the Indonesian court cleansed Wilmar and two other companies in March, the three judges were behind the ruling. Arrest On the graft fees after a month.

The Office of the Public Prosecutor in Indonesia claims that corruption related to export permits costs the state 12.3 trillion Rubia ($ 755 million).

On Tuesday, Wilmar Claim “All the actions that (Wilmar) perform during this period regarding the export of cooking oil was made in compliance with the prevailing regulations.” We will get a “security deposit” if the Supreme Court in Indonesia holds a patent – but the money will be lost if you lose the case.

“We Wilmar paid the price of the states they caused,” said a senior official from Indonesia A press conference on Tuesday.

Indonesia represents about 60 % of the global palm oil supplies. Raw palm oil is a major element in food products and home commodities. In response to the deficiency of cooking oil in late 2021 and early 2022, Indonesia imposed strict export restrictions on palm oil, Incurred Block export for three weeks, in order to maintain the local offer and curb the increasing prices.

Wilmar is one of the largest owners of palm farms in the world, with an area of ​​more than 230,000 hectares. It is one of the largest companies in the region, ranked 4 luck’S Southeast Asia 500; It is also one of the few companies in the region with a reach of 500 Global, luck’S classification of the largest companies in the world through revenues.

One third of the oil palm plantations in Wilmar, Indonesia. In addition to palm oil and cooking oil, Wilmar also produces other food products such as rice, pasta and Margon for global markets.