Wilmar International's Subsidiary Employee Sentenced by Indonesian Court; Shares Down 4%
MT Newswires
Mar 04
Wilmar International's (SGX:F34) Indonesian unit's head of social security legal, Muhammad Syafei, was given a six-year imprisonment sentence and a fine of 300 million Indonesian rupiah by the Central Jakarta District Court, according to a Tuesday filing with the Singapore Exchange.
Shares of the food and beverage company were down over 4% in Wednesday trading.
The sentence is in connection with bribing certain judges who had acquitted the company's subsidiaries over the acquisition of wrongful grant of export permits.
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