Wilmar

Wilmar: share price declines further to $4.44, -8.3%, on virtually no corporate news flow.
Wilmar has had its fair share of unhappy incidents in the past, which did not appear to have full closure. These include:
i) in Apr 2011, Msia based palm oil exporting firm Pacific Interlink (PIL) said it would take Wilmar and three other firms to court for imposing conditions barring transactions with it, amounting to alleged defamation and interference in the firm’s economic interest. PIL then sought US$425m from all 4 defendants. Wilmar said it was not liable to PIL, and intended to defend the claim vigorously.
ii) in May 2010, Wilmar denied media reports that it had colluded with tax officials to obtain fraudulent tax refunds for its operations in Indonesia. The reports said that Wilmar had received or was due to receive total “questionable” tax refunds worth Rp 3.6tr (~US$438m) over the 3 yrs from 2007-09.