Latest news with #RM3.44
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Wilmar posts US$729m security deposit amid Indonesian corruption appeal, PPB discloses
PPB Group Bhd has announced that its associate company, Wilmar International Ltd, has placed a security deposit of 11.88 trillion Indonesian rupiah (approximately US$729 million or RM3.44 billion) with the Indonesian Attorney General's Office (AGO), in connection with an ongoing court appeal involving five of its subsidiaries. In a filing with Bursa Malaysia today, PPB, which holds an 18.8% interest in Wilmar, said the announcement was made by Wilmar on the Singapore Exchange following a press conference by the Attorney General of Indonesia on the same day. The case stems from charges brought by the AGO in April 2024 against five Wilmar subsidiaries, namely PT Multimas Nabati Asahan, PT Multi Nabati Sulawesi, PT Sinar Alam Permai, PT Wilmar Bioenergi Indonesia, and PT Wilmar Nabati Indonesia, for allegedly causing financial losses to the state, making unauthorised profits, and harming the business sector during a domestic cooking oil shortage between July and December 2021. The AGO claimed that the alleged actions led to total state losses of IDR12.3 trillion (about US$755 million), and subsequently appealed a Central Jakarta Court decision that favoured the Wilmar entities. In its statement, Wilmar said the AGO requested the group to 'demonstrate their belief in the Indonesian judicial system and their good faith and innocence, by placing a security deposit' equivalent to part of the alleged losses and supposed illegal gains. The Wilmar subsidiaries have complied with this request. Wilmar stated that the 'Security Deposit will be returned… if the Indonesian Supreme Court upholds the decision of the Central Jakarta Court, but may be forfeited, in full or in part… if the Indonesian Supreme Court finds against the Wilmar Respondents.' The group reiterated: 'The Wilmar Respondents continue to maintain that all actions taken by them were taken in good faith and free from any corrupt intent.' — TMR
New Straits Times
20-05-2025
- New Straits Times
RM3.44mil in smuggled plants seized, two lorry drivers arrested in Kelantan
KOTA BARU: Separate operations under Op Taring Wawasan Kelantan led to the seizure of over RM3.44 million worth of ornamental plants, believed to be smuggled from Thailand, and the arrest of two lorry drivers. The raids which were carried out over the weekend by the General Operations Force's (GOF) 18th and EightBattalions in Jeram Perdah and Chabang Empat here, also resulting in the arrests of two local men and the confiscation of two lorries used in the smuggling activities. GOF Southeast Brigade commander Datuk Nik Ros Azhan Nik Ab Hamid said the first incident occurred on Sunday at 7.30pm when the GOF personnel from the 18th Battalion spotted a suspicious lorry near Pos Pok Teh Kana. "Checks revealed 15,000 green bamboo plants and 30 casuarina trees in the vehicle, believed to have been smuggled from Thailand," he said in a statement today. Ros Azhan said the lorry driver, a 23-year-old man, was also detained. The total seizure, including the lorry, was valued at RM1.02 million. Later the same night, at around 10pm, he said the second team from the Eighth Battalion stopped another suspicious lorry along Jalan Kampung Ana, Chabang Empat. Inside, officers found 115 black wood bonsai trees, 3,000 jasmine plants and various types of flowers, Ros Azhan said. The estimated value of the seizure was RM2.42 million. The 42-year-old driver, who was arrested, told the GOF personnel that he was delivering the plants to a nursery in Perak, Ros Azhan said.
