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Wilmar shares tumble 10.5% in early trade amid Indonesia probe
It is under investigation for suspected under-invoicing and transfer-pricing practices
[SINGAPORE] Shares of Wilmar International : F34 -2.84% fell as much as 10.5 per cent in early trading, down S$0.37 at S$3.15 as at 9 am on Thursday (May 28).
By 9.21 am, the counter had recovered to S$3.43, down S$0.09 or 2.6 per cent, after around 4.7 million shares changed hands.
The Business Times reported on Tuesday that the company is among 10 crude palm oil (CPO) exporters under investigation for suspected under-invoicing and transfer-pricing practices.
Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and or pay lower export taxes.
Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore.
He said that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country.
Singapore-based Musim Mas is also under probe.
The investigation is part of Jakarta&rsquo s broader effort to tighten control over strategic commodity flows.
Wilmar says it has not received official notice of Indonesia probe into suspected export under-invoicing
The company&rsquo s shares are down 4% as at midday, after falling 10.5% in early trading on Thursday
[SINGAPORE] Wilmar International said in a bourse filing on Thursday (May 28) that it has not received official notification of being under investigation by the Indonesian authorities for suspected under-invoicing and transfer-pricing of exports.
The agribusiness giant added that it is &ldquo working with the relevant authorities to understand their concerns&rdquo .
&ldquo If and when we receive official notification... we will update the market accordingly,&rdquo said the company.
The Business Times reported on Tuesday that the company is among 10 crude palm oil (CPO) exporters under investigation for suspected under-invoicing and transfer-pricing practices.
Singapore-based Musim Mas is also under probe.
Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and/or pay lower export taxes.
Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore.
He noted that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country.
The investigation is part of Jakarta&rsquo s broader effort to tighten control over strategic commodity flows.
Wilmar : F34 -3.98% declined as much as 10.5 per cent or S$0.37 to S$3.15 in early trading on Thursday.
As at the midday trading break, its shares were down S$0.140 or 4 per cent at S$3.38.
never seen it rise. only dips and negative surprises.
shk363 ( Date: 28-May-2026 18:50) Posted:
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which one
shk363 ( Date: 28-May-2026 18:50) Posted:
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buy on dips
anyone still buy this story? sounds like US-Iran war...each side declare own victory
Wilmar says it has not received official notice of Indonesia probe into suspected export under-invoicing
The company&rsquo s shares are down 4% as at midday, after falling 10.5% in early trading on Thursday
Published Thu, May 28, 2026 · 12:50 PM
[SINGAPORE] Wilmar International said in a bourse filing on Thursday (May 28) that it has not received official notification of being under investigation by the Indonesian authorities for suspected under-invoicing and transfer-pricing of exports.
The agribusiness giant added that it is &ldquo working with the relevant authorities to understand their concerns&rdquo .
&ldquo If and when we receive official notification... we will update the market accordingly,&rdquo said the company.
The Business Times reported on Tuesday that the company is
among 10 crude palm oil (CPO) exporters under investigation for suspected under-invoicing and transfer-pricing practices.
Singapore-based Musim Mas is also under probe.
Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and/or pay lower export taxes.
Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore.
He noted that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country.
The investigation is part of Jakarta&rsquo s broader effort to
tighten control over strategic commodity flows.
geographic ( Date: 28-May-2026 11:25) Posted:
| 犯 官 非 星 ! One after another. Sibei Sian. |
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correctly said!
cause for concern!
change the management!
geographic ( Date: 28-May-2026 11:25) Posted:
| 犯 官 非 星 ! One after another. Sibei Sian. |
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犯 官 非 星 ! One after another. Sibei Sian.
change of management would be good ya
FATABA ( Date: 11-May-2026 13:29) Posted:
Since their last cases in China and Indonesia ....nothing has changed .....the management is still there.
Reflects the lack of proper management and lapse of control again ......
Whatever, W would be seeing more issue once palm oil prices goes south
DYODD
tongphlp ( Date: 11-May-2026 12:35) Posted:
| seems like W is always on the wrong side of the law. |
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Wilmar shares tumble 10.5% in early trade amid Indonesia probe
It is under investigation for suspected under-invoicing and transfer-pricing practices
Published Thu, May 28, 2026 · 09:33 AM
[SINGAPORE] Shares of
Wilmar International : F34 -1.99% fell as much as 10.5 per cent in early trading, down S$0.37 at S$3.15 as at 9 am on Thursday (May 28).
By 9.21 am, the counter had recovered to S$3.43, down S$0.09 or 2.6 per cent, after around 4.7 million shares changed hands.
The Business Times reported on Tuesday that the company is among 10 crude palm oil (CPO) exporters
under investigation for suspected under-invoicing and transfer-pricing practices.
Under-invoicing is the practice of declaring a lower export value in order to shift profits to lower-tax jurisdictions and or pay lower export taxes.
Indonesia&rsquo s Finance Minister Purbaya Yudhi Sadewa said that the companies shipped or sold CPO to trading firms in Singapore, which then resold the cargo to the US after price mark-ups of as much as 50 per cent, raising concerns that a portion of export value may have been moved offshore.
He said that while domestic export documents in Indonesia appeared accurate, inconsistencies emerged in transit records and destination pricing, suggesting the use of offshore trading hubs to book higher margins outside the country.
tongphlp ( Date: 28-May-2026 09:18) Posted:
3.17...
Tigerzbeer ( Date: 22-May-2026 01:12) Posted:
| Ya, totally agree/ Looks like the next support is around 3.30 soo |
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Shares of Singapore-based agribusiness giant Wilmar International plunged up to 10.5% on May 28, 2026, following news that the Indonesian government is probing the company for suspected export abuses, including under-invoicing and transfer-pricing practices in crude palm oil (CPO) shipments.
tongphlp ( Date: 28-May-2026 09:09) Posted:
thus the big sell down this am? or more problems under the carpet that is surfacing?
Taylor ( Date: 24-May-2026 12:34) Posted:
| Now must see next step of politic problem facing.
Indonesia president new policy for Indonesia huge resource
Watch closely related |
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3.17...
Tigerzbeer ( Date: 22-May-2026 01:12) Posted:
Ya, totally agree/ Looks like the next support is around 3.30 soon
geographic ( Date: 21-May-2026 13:02) Posted:
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thus the big sell down this am? or more problems under the carpet that is surfacing?
Taylor ( Date: 24-May-2026 12:34) Posted:
| Now must see next step of politic problem facing.
Indonesia president new policy for Indonesia huge resource
Watch closely related |
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yes, so as always, DYODD.
Listen to all sides of the story. Look at patterns, trends, price movements and what have you up your sleeves.
Take all news with a pinch of salt. Unless you are DT...powerful to move markets. Deal on. Deal off.
Tigerzbeer ( Date: 26-May-2026 00:27) Posted:
This joker has been spamming ads on YouTube self proclaim himself as leading trader in SG. Looking at this stock now, you have the best answer about him. 
tongphlp ( Date: 22-May-2026 13:24) Posted:
Wilmar - how will newly listed call warrant perform if stock pushes toward Joey Choy' s $4 " near-term trigger" ?
- Back on 7 April, we shared SGX Academy Trainer Joey Choy' s write up on Wilmar shares, where he stated that as long as prices hold above $3.60, Wilmar shares might push toward the psychological resistance level of $4
- Joey believes that $4 is a key near-term trigger, which if broken, may push the stock toward the next resistance of $4.40
- Since his article, Wilmar shares had dropped to a low of $3.43 on 30 April before closing just above the $.3.60 support level at $3.61 - and held above $3.60 since
- While the article mentioned Wilmar call warrant ZFIW, Macquarie Warrants Singapore listed a new Wilmar call warrant NWVW yesterday
- The new warrant expires at the end of November, allowing investors to have a longer holding period compared to the short-dated ZFIW which expires at the end of next month
- According to the Warrant Calculator tool for NWVW, should Wilmar shares head 6.7% higher in the next 14 days, NWVW is estimated to climb 35.3% from SGD 0.017 today to SGD 0.023
- Should Wilmar shares take a month to do so, the warrant is expected to increase less i.e. +29.4% to SGD 0.022
- The maximum holding period for this warrant based on the view that Wilmar shares would head to $4 is 71 days from now i.e. 17 July 2026 as the warrant will no longer generate higher returns than if one were to buy Wilmar shares and will in fact generate a negative return if an investor held onto the warrant until the end of July
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This joker has been spamming ads on YouTube self proclaim himself as leading trader in SG. Looking at this stock now, you have the best answer about him.
tongphlp ( Date: 22-May-2026 13:24) Posted:
Wilmar - how will newly listed call warrant perform if stock pushes toward Joey Choy' s $4 " near-term trigger" ?
- Back on 7 April, we shared SGX Academy Trainer Joey Choy' s write up on Wilmar shares, where he stated that as long as prices hold above $3.60, Wilmar shares might push toward the psychological resistance level of $4
- Joey believes that $4 is a key near-term trigger, which if broken, may push the stock toward the next resistance of $4.40
- Since his article, Wilmar shares had dropped to a low of $3.43 on 30 April before closing just above the $.3.60 support level at $3.61 - and held above $3.60 since
- While the article mentioned Wilmar call warrant ZFIW, Macquarie Warrants Singapore listed a new Wilmar call warrant NWVW yesterday
- The new warrant expires at the end of November, allowing investors to have a longer holding period compared to the short-dated ZFIW which expires at the end of next month
- According to the Warrant Calculator tool for NWVW, should Wilmar shares head 6.7% higher in the next 14 days, NWVW is estimated to climb 35.3% from SGD 0.017 today to SGD 0.023
- Should Wilmar shares take a month to do so, the warrant is expected to increase less i.e. +29.4% to SGD 0.022
- The maximum holding period for this warrant based on the view that Wilmar shares would head to $4 is 71 days from now i.e. 17 July 2026 as the warrant will no longer generate higher returns than if one were to buy Wilmar shares and will in fact generate a negative return if an investor held onto the warrant until the end of July
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Now must see next step of politic problem facing.
Indonesia president new policy for Indonesia huge resource
Watch closely related
Technically the MA just arching down....
tongphlp ( Date: 22-May-2026 09:57) Posted:
bad news?
Tigerzbeer ( Date: 22-May-2026 01:12) Posted:
| Ya, totally agree/ Looks like the next support is around 3.30 soo |
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Wilmar - how will newly listed call warrant perform if stock pushes toward Joey Choy' s $4 " near-term trigger" ?
- Back on 7 April, we shared SGX Academy Trainer Joey Choy' s write up on Wilmar shares, where he stated that as long as prices hold above $3.60, Wilmar shares might push toward the psychological resistance level of $4
- Joey believes that $4 is a key near-term trigger, which if broken, may push the stock toward the next resistance of $4.40
- Since his article, Wilmar shares had dropped to a low of $3.43 on 30 April before closing just above the $.3.60 support level at $3.61 - and held above $3.60 since
- While the article mentioned Wilmar call warrant ZFIW, Macquarie Warrants Singapore listed a new Wilmar call warrant NWVW yesterday
- The new warrant expires at the end of November, allowing investors to have a longer holding period compared to the short-dated ZFIW which expires at the end of next month
- According to the Warrant Calculator tool for NWVW, should Wilmar shares head 6.7% higher in the next 14 days, NWVW is estimated to climb 35.3% from SGD 0.017 today to SGD 0.023
- Should Wilmar shares take a month to do so, the warrant is expected to increase less i.e. +29.4% to SGD 0.022
- The maximum holding period for this warrant based on the view that Wilmar shares would head to $4 is 71 days from now i.e. 17 July 2026 as the warrant will no longer generate higher returns than if one were to buy Wilmar shares and will in fact generate a negative return if an investor held onto the warrant until the end of July
