In April last year, the Indonesian Attorney General filed a lawsuit against five subsidiaries of Wilmar International, accusing these subsidiaries of illegal corruption during the Indonesian market from July to December 2021, causing Indonesia to su...
In April last year, the Indonesian Attorney General filed a lawsuit against five subsidiaries of Wilmar International, accusing these subsidiaries of illegal corruption during the Indonesian market from July to December 2021, causing Indonesia to suffer losses of 12.3 trillion rupiah (about S$967 million).
The defendant of Fengyi agreed and has paid a deposit. If the Supreme Court upholds the Central Jakarta Court's ruling, the margin will be refunded, but if the Supreme Court rules that Fengyi defendant loses the case, the margin may be confiscated in whole or in part, depending on the circumstances.
After the closing of the market on Tuesday (June 17), Wingyi International issued a statement on a press conference held by the Indonesian Attorney General's Office, insisting that all behaviors related to edible oil exports in the above period were in compliance with regulations.
The defendants of Fengyi still insisted that all actions are in good faith and have no intention of corruption.
Fengyi International's stock price fell 0.33% to 3.01 yuan at the close of the market.
Statement pointed out that the Indonesian Attorney General's Office appealed the ruling of the Central Jakarta District Court and applied to the Indonesian Supreme Court to demand that the defendants pay a deposit to demonstrate their trust in the Indonesian judicial system and the integrity and innocence of the company.
The amount of the deposit is 11.8 trillion rupiah, representing the illegal gains obtained by the actions of the defendant.These five companies are: Multimas Nabati Asahan, Multi Nabati Sulawesi, Sinar Alam Permai, Wilmar Bioenergi Indonesia and Wilmar Nabati Indonesia (collectively, "Fengyi Defendant").
