ALL AGRI #Southeast Asia

Agrifood giant Wilmar hands over almost two-thirds of its annual profit to Indonesia as ‘security deposit’ for palm oil corruption case

Agrifood giant Wilmar hands over almost two-thirds of its annual profit to Indonesia as ‘security deposit’ for palm oil corruption case

Wilmar generated $67.4 billion in revenue last year, a 0.3% increase year-on-year. The agrifood giant earned $1.2 billion in annual profit, meaning its $729 million “security deposit” is equal to about 60% of Wilmar’s entire 2024 net Sncome. Indonesian prosecutors accuse Wilmar of bribing officials to obtain the permits in 2022, during a national cooking oil shortage.

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