Dragged on CPO Export Corruption Case, Wilmar Group Originates from Singapore
KOMPAS.COM – One of the Commissioners of PT Wilmar Nabati Indonesia MPT has the initials as a suspect in the corruption case of palm oil export permits crude or crude palm oil (CPO). The disclosure was made by Attorney Generals Office (AGO).
The arrest of a high-ranking official at PT Wilmar Nabati Indonesia is a development of the corruption case that ensnared the Director General of Foreign Trade The Ministry of Trade (Kemendag) has the initials IWW alias Indrasari Vishnu Wardhana.
IWW as a high echelon I official of the Ministry of Trade, issues related permits export approvals to three companies, one of which is PT Wilmar Indonesian Vegetables. The issuance of the permit was accused of being against the law.
This is because the issuance of export approvals to exporters should did not get permission because it did not meet the DMO requirements (Domestic Market Bonds) and DPO (Domestic Price Bonds).
WILMAR GROUP FROM SINGAPORE
PT Wilmar Nabati Indonesia itself is a subsidiary of the Group Wilmar or Wilmar International Ltd, a giant palm oil company that based in Singapore.
Wilmar International is even listed as one of the companies largest in terms of market capitalization on the Singapore Stock Exchange or Singapore Stock Exchange (SGX). Wilmar Groups various products include others are cooking oil, margarine, cocoa, oleochemicals, and biodiesel.
In Indonesia, the famous cooking oil brand from Wilmar is Fortune and Sania. In addition to palm oil and its derivative products, this company also listed as an investment holding.
Quoted from its official website, Wilmar International is based at 28 Biopolis Road, Singapore. The company also claims to have more than 500 factories and distribution network spread across China, Indonesia, India, and various other countries.
EVEN BECOME A SUSPECT
In 2021, the company even recorded a net profit of 1.89 billion US dollars. Conglomerate Martua Sitorus is a figure behind Wilmars business in Indonesia.
According to the companys official website, Wilmar originally started from a flour milling company called FFM Berhad which Kuok Khoon Hongs Kuok Group was founded in Malaysia in 1966.
