Shares of Wilmar International dropped sharply by 10% at one time on Thursday, and now fell 2.22%. The company is one of ten crude palm oil exporters currently under investigation for alleged under-invoicing and transfer-pricing activities.

Under-invoicing involves declaring a lower export value to shift profits to jurisdictions with lower taxes or to reduce export tax liabilities.

Indonesia's Finance Minister stated that the companies shipped CPO to trading firms in Singapore, which then resold the shipments to the United States with price mark-ups reaching up to 50 percent. This has raised concerns that a portion of the export value may have been moved offshore.

He noted that while domestic export documentation in Indonesia appeared correct, discrepancies were found in transit records and pricing at the destination, indicating the possible use of offshore trading hubs to record higher profit margins outside the country.