Wilmar Subsidiaries post $984m security deposit amidst Indonesia legal appeal

Five Wilmar units are accused in the case.

Wilmar International has placed a $984m (IDR11.88t) security deposit with the Indonesian Attorney General’s Office as its legal battle over alleged corruption moves to the Supreme Court.

Indonesia’s Attorney General claims five Wilmar subsidiaries caused $1.02b (IDR 12.3t) in state losses by unlawfully profiting during the 2021 cooking oil shortage.

The accused units are PT Multimas Nabati Asahan, PT Multi Nabati Sulawesi, PT Sinar Alam Permai, PT Wilmar Bioenergi Indonesia, and PT Wilmar Nabati Indonesia.

A Central Jakarta court had earlier ruled in favour of Wilmar. However, the Attorney General has appealed the decision and asked the companies to place the deposit as a sign of good faith. Wilmar complied.

The deposit will be returned if the Supreme Court upholds the lower court’s ruling. It will be forfeited if the court rules against Wilmar.

Wilmar maintains that its subsidiaries acted lawfully and denies any wrongdoing.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia