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i think wilmar is cash rich and every countries are in trouble and needing easy money .... first adani, indonesia, and now china
haizz ... very jialat
haizz ... very jialat
No wonder Wilamr' s share price super underpeformed when STI soared like no tomorrow.
Insiders already know what is going on.
Insiders already know what is going on.
&lsquo My uncle, Robert Kuok would expel me&rsquo : Wilmar chief rebuts China fraud finding
Calling the finding &lsquo inconceivable&rsquo , Kuok Khoon Hong says if he had done such a thing, his uncle would have expelled him from the family
[SINGAPORE] Wilmar International&rsquo s chairman and chief executive officer Kuok Khoon Hong has expressed &ldquo deep shock&rdquo after learning that a China subsidiary of the group had been found guilty of contract fraud and ordered to bear losses amounting to 1.88 billion yuan (S$345.6 million).
The palm oil billionaire said it was &ldquo absolutely inconceivable&rdquo for the group to jeopardise its longstanding China commitment or to &ldquo tarnish the strong reputation the Kuok family has built over decades&rdquo , said a bourse filing on Saturday (Nov 22).
He added that the group would not do so &ldquo all for the sake of such a minor potential benefit and by assisting in defrauding a state-owned enterprise&rdquo .
&ldquo If I had truly done such a thing, I believe my uncle, Robert Kuok, would expel me from the Kuok family even before any punishment from Chinese judicial authorities,&rdquo he said.
Yihai (Guangzhou) Grain and Oil (Guangzhou Yihai) were sued by the public prosecutor in China in January 2024 as an &ldquo accomplice&rdquo in contract fraud related to palm oil trades between state-owned enterprise Anhui Huawen and a privately owned counterparty, Yunnan Huijia Import & Export Co. The alleged fraud led to a 5.2 billion yuan loss for Anhui Huawen.
The judgement was handed down on Nov 19 by the Intermediate People&rsquo s Court of Huaibei City against Guangzhou Yihai &ndash a subsidiary of Wilmar&rsquo s Shenzhen-listed arm, Yihai Kerry Arawana (YKA). YKA is 89.99 per cent owned by Wilmar.
To date, YKA has invested nearly 100 billion yuan in China and has been &ldquo deeply cultivating the Chinese market for over thirty years&rdquo , Kuok said.
Combined with the related investments from the Kuok family&rsquo s businesses, such as Shangri-La and Kerry Properties, the total investment in China by the Kuok family exceeds 250 billion yuan.
&ldquo As a member of the patriotic overseas Chinese Kuok family, the family has always cared deeply for China for decades,&rdquo YKA said in the bourse filing, which summarised what transpired during an investors&rsquo briefing on Nov 21.
According to YKA, the essence of this case was that Yunnan Huijia colluded with Anhui Huawen to jointly fabricate transactions, resulting in massive losses of state-owned assets.
&ldquo Anhui Huawen concealed these losses for nearly a decade. After the involved executives were subjected to criminal investigation for duty-related crimes, Anhui Huawen attempted to illegally shift the responsibility for the massive losses onto Guangzhou Yihai,&rdquo YKA said.
Between 2008 and 2014, the total volume of palm oil imported by Anhui Huawen on behalf of Yunnan Huijia and stored at Guangzhou Yihai amounted to approximately 900,000 tonnes, YKA said.
&ldquo The goods had in fact been fully released using falsified documents, which were not unilaterally forged by Yunnan Huijia but were jointly fabricated through collusion between Anhui Huawen and Yunnan Huijia,&rdquo YKA claimed.
&ldquo To conceal the fact that the goods had already been withdrawn and to mislead auditors, Anhui Huawen instructed Yunnan Huijia to create over 30 false inventory records falsely stating that the palm oil remained in storage.&rdquo
Anhui Huawen&rsquo s claim that more than one million tonnes of palm oil were stored long-term at Guangzhou Yihai fundamentally contradicts basic business logic, YKA said.
&ldquo It is impossible for palm oil to be stored for over 10 years without deterioration. Furthermore, Guangzhou Yihai&rsquo s total tank capacity is approximately 160,000 tonnes. After deducting the capacity required for its own operational needs, less than 100,000 tonnes were available for external clients.&rdquo
YKA claimed that for each transaction, Guangzhou Yihai obtained confirmation from Anhui Huawen&rsquo s authorised personnel, in accordance with the terms of the transhipment agreement.
Court hearings confirmed that Guangzhou Yihai regularly mailed authentic inventory confirmation letters to the authorised personnel designated in the contract by Anhui Huawen.
However, YKA claimed Anhui Huawen&rsquo s chief financial officer (CFO) &ldquo destroyed these documents&rdquo to conceal that the goods had been shipped.
YKA is also claiming that Anhui Huawen used counterfeit seals to execute the transhipment agreement with Guangzhou Yihai and provided forged withdrawal seals as specimens.
The false inventory confirmation records were said to be jointly fabricated by Anhui Huawen and Yunnan Huijia between 2015 and 2021.
YKA said: &ldquo At a later stage, the CFO instructed the personnel to deliver the received &lsquo inventory confirmation letters&rsquo to Yunnan Huijia.
&ldquo Yunnan Huijia then affixed forged Anhui Huawen seals to the documents and mailed them back to Guangzhou Yihai.&rdquo
Around 2021, Anhui Huawen suddenly presented inventory documents bearing counterfeit seals of Guangzhou Yihai, reporting that 1.07 million tonnes of palm oil remained undelivered, YKA claimed.
The judgement by the Chinese court is &ldquo fundamentally flawed&rdquo , YKA said.
&ldquo As a trader, it was commercially illogical for Anhui Huawen to hold imported palm oil without selling for decades &ndash violating fundamental principles of state-owned asset preservation and appreciation,&rdquo said YKA&rsquo s chairman and general manager Fang Yan Jang.
Morever, Guangzhou Yihai derived no benefit from the alleged acts, he said.
&ldquo Guangzhou Yihai will actively pursue its appeal and exhaust all legal avenues and measures available to clarify the truth and safeguard its legitimate rights and interests,&rdquo it said.
When asked whether this incident will affect YKA&rsquo s future investments in China, the company said &ldquo judicial injustices in certain localities&rdquo have undermined the business environment.
YKA said: &ldquo The company firmly believes that Guangzhou Yihai is not guilty, and trusts that the second-instance trial will deliver a fair and just judgment to uphold a sound judicial and business environment, thereby boosting the confidence of investors.&rdquo
YKA now claimed it was staff of Yunnan and Anhui cohorted to cheat and not YKA
https://www.businesstimes.com.sg/property/my-uncle-robert-kuok-would-expel-me-if-true-kuok-khoon-hong-rejecting-conviction-wilmars-china-unit
https://www.businesstimes.com.sg/property/my-uncle-robert-kuok-would-expel-me-if-true-kuok-khoon-hong-rejecting-conviction-wilmars-china-unit
What is the relationship between Yunnan Huijia and YKA? Anhui Huawen is a SOE - stealing from the state is a serious allegation.
hmm, a lapse of management ....first Indonesia and now China.
Real concern is who is heading this empire ?
DYODD
Real concern is who is heading this empire ?
DYODD
Joelton ( Date: 21-Nov-2025 09:42) Posted:
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Wilmar China unit found guilty of contract fraud will appeal against court decision
It has been found to be jointly liable for 1.88 billion yuan in losses
[SINGAPORE] A subsidiary of Wilmar International : F34 -0.9% has been found guilty of contract fraud by a Chinese court and ordered to jointly bear losses amounting to 1.88 billion yuan (S$345.6 million).
The unit was sued by the public prosecutor in January 2024 as an &ldquo accomplice&rdquo in contract fraud related to palm oil trades between state-owned enterprise Anhui Huawen and a privately owned counterparty, Yunnan Huijia Import & Export Co. The alleged fraud led to a 5.2 billion yuan loss for Anhui Huawen.
The judgement was handed down on Wednesday (Nov 19) by the Intermediate People&rsquo s Court of Huaibei City against Guangzhou Yihai, a subsidiary of Wilmar&rsquo s Shenzhen-listed arm, Yihai Kerry Arawana (YKA). YKA is 89.99 per cent owned by Wilmar.
In a bourse filing released the same day, Wilmar stated that the unit intends to contest the court&rsquo s decision, asserting that its factual determinations, adoption of evidence and application of law were &ldquo erroneous&rdquo .
The judgement
According to the first-instance criminal judgement, Guangzhou Yihai was found guilty of &ldquo contract fraud as an accessory&rdquo and fined one million yuan.
The court also ruled that Guangzhou Yihai must jointly bear the around 1.9 billion yuan in losses incurred by the victim, state-owned enterprise Anhui Huawen, alongside Yunnan Huijia.
Additionally, a former general manager of Guangzhou Yihai, Liu Degang, was sentenced to 19 years&rsquo imprisonment and fined 2.8 million yuan. He was found guilty of contract fraud and bribery by a non-state employee, and the court ordered his illicit gains confiscated.
The conviction of Guangzhou Yihai is based on an allegation that it had assisted Yunnan Huijia and certain persons behind Yunnan Huijia, in committing fraud against Anhui Huawen.
&ldquo Erroneous&rdquo ruling
Wilmar and YKA have rejected the judgement. YKA stated that it would &ldquo fully support&rdquo its subsidiary&rsquo s appeal.
The group argued that the fraud was perpetrated by Yunnan Huijia, which allegedly bribed senior executives and staff at Anhui Huawen to fabricate transactions. Wilmar&rsquo s position is that Yunnan Huijia is attempting to implicate Guangzhou Yihai to shift responsibility for the losses.
&ldquo Guangzhou Yihai neither participated in nor had knowledge of any fraudulent activities, nor did it engage in any acts of assistance,&rdquo a statement from YKA read.
The company also noted that it previously commissioned seven criminal law experts who unanimously concluded that the subsidiary&rsquo s actions did not constitute a crime.
Financial uncertainty
Wilmar noted that as the case is being appealed, the judgement has not yet taken effect, and the fine is not currently payable.
It added that because the ultimate liability remains undetermined pending the appeal, the financial impact on the company is currently uncertain. YKA stated that its operations remain normal.
Agreed w the numbers. But this still debt that hv to be paid. Anyway a speedy reduction wld be better.
Other concern is WHO to take over after current old man . ?
No view on this counter
DYODD
Other concern is WHO to take over after current old man . ?
No view on this counter
DYODD
Alignment ( Date: 12-Nov-2025 11:20) Posted:
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They have a very large value of current assets that is not captured in the net debt calculation. If you take this into account when considering the bigger picture the debt is not so large. That is why the net debt to equity ratio is only 0.82x (vs 0.94x a year ago so this is trending better also).
This translates to a total purchase price of 46.5 billion rupees (S$683.4 million), to be funded by internal sources and bank borrowings
Hmm concern on the large borrowings of Wilmar ....when can they really reduce this large debt.
DYODD
Hmm concern on the large borrowings of Wilmar ....when can they really reduce this large debt.
DYODD
Joelton ( Date: 12-Nov-2025 10:54) Posted:
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nice
Joelton ( Date: 12-Nov-2025 10:54) Posted:
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Wilmar unit to acquire 13% of Mumbai-listed joint venture, AWL Agri Business, for $860m
The 46.5 billion rupee purchase will be funded by internal sources and bank borrowings
[SINGAPORE] A unit of agri-specialist Wilmar International : F34 +1.21% will acquire 13 per cent of the shares held by India&rsquo s Adani Commodities in the two companies&rsquo joint venture (JV), for 275 rupees per share.
This translates to a total purchase price of 46.5 billion rupees (S$683.4 million), to be funded by internal sources and bank borrowings.
Wilmar previously announced that its wholly owned unit Lence would purchase a maximum of 259.9 million shares &ndash or a stake of up to 20 per cent &ndash in the Mumbai-listed JV, AWL Agri Business.
This came after Adani Commodities announced its exit from the JV, formerly known as Adani Wilmar, in December 2024.
Lence expects to complete the 13 per cent stake purchase in November, after which it will hold 56.9 per cent of AWL&rsquo s existing paid-up equity share capital.
Wilmar expects to recognise a gain on deemed disposal of an associated company of US$1.2 billion, with a corresponding US$1.3 billion increase in net assets.
Wilmar posts US$347.7 million Q3 loss on 11.9 trillion rupiah graft penalty core profit jumps 71%
The group will also recognise a negative net tangible assets value attributable to AWL of US$0.4 billion, based on the JV&rsquo s unaudited financial statements as at Jun 30.
I would say that the market looks forward not back. In this case the market is clearly seeing a brighter future after the latest set of results.
If the fine opens the door, that is nothing ... probably legroom for it to move up
That said, if you strip out the Indonesian fine and you find a company with strong financial figures: core profits up about 72% year on year with cash flow up 70%, and debt down US$2.1 billion over the same period.
Market perception often lags business reality, especially for complex conglomerates. Wilmar spans the entire agribusiness value chain across 50 countries through 1,000 manufacturing plants &ndash try fitting that into a simple narrative.
Yet, October' s performance suggests investors are beginning to appreciate what this scale means: sourcing flexibility, processing efficiency, and distribution reach. The improving business conditions across diverse segments suggests broad-based growth. There were better results in China' s oil, flour, and rice businesses. Soybean crushing margins improved, supported by abundant South American harvests. Tropical oils sales volume climbed while palm oil prices remained steady, benefiting the plantation business. Let' s see if Wilmar can move past its troubles in Indonesia.
Tob231 ( Date: 31-Oct-2025 09:00) Posted:
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thanks buddy for alerting that bb don' t like people to say " going above and beyond certain price."
let the market take its form. anyway all the best to all my bro. and sis who are vested.
happy thanksgiving day !!!
let the market take its form. anyway all the best to all my bro. and sis who are vested.
happy thanksgiving day !!!
market is bullish and big institutions are buying .... likely going above 3.1
fine is in the past ... future is what the market is looking forward to....
haizz should have .... anyway ... all the best to those who are vested
fine is in the past ... future is what the market is looking forward to....
haizz should have .... anyway ... all the best to those who are vested
Tob231 ( Date: 31-Oct-2025 09:00) Posted:
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This is a very HEAVY fine.....U$712.3M ,,,,wow
Reply from Wilmar on SGX website seem to point to the trade ministry on this .....direction from them or otherwise .
Wonder any appeal wld help or this is gone .... as this outcome is to overturn a previous judgement.
Whatever , this penalty is very heavy .
DYODD
Reply from Wilmar on SGX website seem to point to the trade ministry on this .....direction from them or otherwise .
Wonder any appeal wld help or this is gone .... as this outcome is to overturn a previous judgement.
Whatever , this penalty is very heavy .
DYODD
Joelton ( Date: 31-Oct-2025 08:54) Posted:
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to sum it up, business has turned around and is profitable.
kuok' s family is not complaining bcos it set the stage for more biz to come .... decades in this biz
i don' t have much affinity with this counter
kuok' s family is not complaining bcos it set the stage for more biz to come .... decades in this biz
i don' t have much affinity with this counter
Wilmar posts net loss of US$357.2 million for 3Q2025
The Group reported a net loss of US$347.7 million in 3Q2025 (3Q2024: US$254.4 million profit) as a result of a IDR 11.88 trillion (approximately US$712.3 million) payment arising from a decision of the
Indonesia Supreme Court in relation to actions taken by the Group in FY2021 during a shortage of cooking oil in the Indonesian market.
For 9M2025, the Group reported core net profit of US$940.9 million (9M2024: US$814.4 million) and net profit of US$247.3 million (9M2024: US$834.0 million).
Nevertheless, we expect our business to remain resilient for the rest of the year, barring any adverse change in international government policies that could impact our operations.
Overall, we are cautiously optimistic that performance for the rest of the year will be satisfactory.
It posted a US$347.7 million loss for the third quarter ended Sep 30, reversing from a net profit of US$254.4 million in the year-ago period. The net loss was due to a 11.9 trillion rupiah (S$926.6 million) graft penalty linked to the group&rsquo s actions amid a cooking oil shortage in the country, it said on Thursday. Excluding the payment, Wilmar&rsquo s Q3 core net profit rose 71.6 per cent to US$357.2 million, from US$208.1 million. The counter fell 0.6 per cent or S$0.02 to S$3.12 on Thursday, before the news.
Not so bad ! one more q will be +ve
Not so bad ! one more q will be +ve