Wilmar Tumbles After $729 Million Deposit in Indonesia Palm Case.

The article focuses on the significant decline in shares of Wilmar International Ltd., a major Asian food company, following a requirement for its Indonesian subsidiaries to pay a $729 million security deposit related to a palm oil export case. The Indonesian Attorney General's Office requested this deposit, which amounts to nearly two-thirds of Wilmar's net income from the previous year, as part of an appeal against a court ruling that initially favored Wilmar. The case involves allegations of wrongdoing during a cooking oil shortage in Indonesia, with the potential for the deposit to be forfeited if the Supreme Court does not uphold the earlier ruling. Wilmar maintains that its actions were compliant with regulations during the period in question. [Extracted from the article]

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