Wilmar Shares Dive 11% After Indonesia Names Firm in Palm Oil Export Probe

1 articles · Updated · Bloomberg · May 28

Wilmar International shares sank as much as 11% in Singapore on Thursday, their biggest intraday drop since 2020, after Indonesia identified the company in a suspected palm oil export abuse investigation.
Sellers then eased slightly, leaving the stock down at S$3.45 by 9:45 a.m. local time, but the move still marked Wilmar’s sharpest market hit in almost six years.
Trading volume surged to nine times the 20-day average of 78,988 shares for that time of day, signaling an intense investor reaction to the probe.
The selloff puts one of the palm oil industry’s biggest companies under fresh scrutiny as Indonesia pursues alleged irregularities in export activity.

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