Wilmar Shares Plunge 10.5% on Indonesia Probe into Under-Invoicing
Shares of Singapore-based agribusiness giant Wilmar International fell 10.5% on May 28, 2026, after Indonesian authorities launched an investigation into suspected export under-invoicing and transfer-pricing practices. The probe aims to uncover potential tax evasion in Wilmar’s palm oil operations. Wilmar denied receiving official notice, but the market reacted sharply, wiping out significant value. The case highlights heightened regulatory scrutiny in Indonesia’s strategic commodity sector, with potential fines and operational risks looming.
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Wilmar says it has not received official notice of Indonesia probe into suspected export under-invoicing
Wilmar International, a Singapore-based agribusiness giant, stated that it has not received any official notification regarding an Indonesian investigation into suspected export under-invoicing. The company's shares fell sharply in response to the news, dropping 10.5% in early trading on Thursday before recovering slightly to a 4% decline by midday. The probe, reported by Indonesian authorities, involves allegations that Wilmar may have under-invoiced exports to reduce tax liabilities. Wilmar's denial of receiving formal notice suggests the company is seeking clarity on the scope and validity of the investigation. The market reaction reflects investor concern over potential financial and reputational risks, including possible fines or operational disruptions in Indonesia, a key market for the palm oil producer. The article was published by The Business Times Singapore on May 28, 2026.
The Business TimesWilmar Denies Receiving Official Notice of Indonesia Export Under-Invoicing Probe
Wilmar International, a Singapore-based agribusiness giant, stated it has not received official notification regarding an Indonesian investigation into suspected export under-invoicing. The probe is part of Jakarta's broader efforts to tighten control over strategic commodities. The news caused Wilmar's shares to drop by as much as 10.5% in early trading on Thursday, May 28, 2026, reflecting investor concern over potential regulatory and financial repercussions. The company's denial of official notice suggests uncertainty about the scope and timeline of any potential action by Indonesian authorities.
The Business TimesWilmar shares tumble 10.5% in early trade amid Indonesia probe
Shares of Wilmar International, a major agribusiness company, fell sharply by 10.5% in early trading on May 28, 2026, following news of an investigation by Indonesian authorities. The probe focuses on suspected under-invoicing and transfer-pricing practices, which are financial maneuvers that can reduce tax liabilities. The significant stock decline reflects investor concern over potential legal and financial repercussions. The article, published by The Business Times Singapore and written by Deon Loke, highlights the immediate market reaction to the regulatory scrutiny.
The Business TimesWilmar shares plunge 10.5% in early trade amid Indonesia probe
Shares of Wilmar International, a major agribusiness group, plunged 10.5% in early trading on the Singapore Exchange following news that the company is under investigation by Indonesian authorities for suspected under-invoicing and transfer-pricing practices. The probe, reported by The Business Times on May 28, 2026, has triggered a sharp sell-off, wiping out significant market value. The investigation focuses on potential tax evasion and revenue misreporting related to Wilmar's operations in Indonesia, a key market for the company. Analysts expect heightened regulatory scrutiny and potential financial penalties, which could impact Wilmar's earnings and investor confidence in the near term.
The Business TimesWilmar shares tumble 10.5% in early trade amid Indonesia probe
Shares of agribusiness giant Wilmar International plunged 10.5% in early trading on the Singapore Exchange following news of an investigation by Indonesian authorities. The probe focuses on suspected under-invoicing and transfer-pricing practices by the company. The sharp decline reflects investor concern over potential regulatory and financial repercussions. The investigation is being conducted by Indonesian authorities, though specific details of the scope and timeline have not been fully disclosed. The stock drop marks a significant market reaction to the probe, highlighting the sensitivity of investors to regulatory risks in the region.
The Business Times