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.

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