[SINGAPORE] Indonesian authorities in late May seized 11.8 trillion rupiah (S$928 million) from global palm oil company Wilmar as part of an ongoing corruption case involving allegations of bribery to obtain palm oil export permits in 2022.
The company, founded by Singaporean tycoon Kuok Khoon Hong, stands accused of earning unauthorised profits by evading state-imposed export controls that sought to curb a cooking oil crisis and domestic palm oil shortage that rocked Indonesia in 2021 and 2022.
Wilmar was initially acquitted by a lower court in March, but the case is back in the limelight as the Indonesian Supreme Court reviews the earlier ruling.
The Business Times traces the events that led up to Wilmar’s corruption probe and its multitrillion rupiah asset seizure.
Jan 18, 2022: Indonesian officials announce that palm oil exporters will be required to obtain permits for exports and to declare how much palm oil they plan to sell domestically.
Jan 19, 2022: A cap limiting cooking oil prices to 14,000 rupiah per litre takes effect. The move is part of government efforts to curb the rise in domestic cooking oil prices, which had shot up as much as 40 per cent from a year earlier, in line with a global palm oil price surge.
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Jan 24, 2022: The requirement that palm oil exporters obtain export permits kicks in.
Apr 19, 2022: The Indonesian Attorney-General’s Office (AGO) names four suspects in a corruption case linked to the issuance of palm oil export permits.
One suspect is a government official from the Trade Ministry.
The others are executives from three palm oil producers – North Sumatra-based Permata Hijau Group, Musim Mas Group, and Wilmar’s subsidiary, Wilmar Nabati Indonesia.
Apr 28, 2022: Indonesia bans the export of crude palm oil (CPO) and all its derivative products – including cooking oil – to shore up domestic supplies and ease costs, as soaring global CPO prices spur producers to export the commodity instead of selling it at home.
May 23, 2022: The ban is lifted after considering improvements in local palm oil supply and prices, Indonesian authorities say.
Mar 19, 2025: Four judges acquit Wilmar Group and the two other companies of charges of misconduct in obtaining export permits in 2022.
Apr 12, 2025: The Indonesian AGO accuses the judges behind the acquittal of receiving bribes to clear the companies of all charges.
Apr 13, 2025: Three of the judges behind the acquittal are arrested, following the earlier arrest of the fourth judge, who allegedly received 60 billion rupiah to arrange a favourable verdict for the companies.
The three judges are said to have received US$1.07 million in bribes.
Apr 14, 2025: Wilmar maintains its innocence, stating that its actions to increase the supply of palm oil were intended to help the government improve domestic supply and lower prices.
Jun 17, 2025: The corruption case undergoes a review by the Supreme Court, which will determine if the earlier lower court ruling will stand, says the AGO, which appealed the acquittal.
The AGO says the 11.8 trillion rupiah that Indonesian authorities seized from five Wilmar subsidiaries in late May is compensation for state losses arising from the graft case.
Wilmar says the seized assets are a security deposit that will be returned if the Supreme Court upholds the lower court’s ruling; should it rule otherwise, the sum may be forfeited in part or in whole.
