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Wilmar’s China unit found guilty of contract fraud, will contest court decision
The Straits Times
|November 21, 2025
A subsidiary of Wilmar International has been found guilty of contract fraud by a Chinese court and ordered to jointly bear losses amounting to 1.88 billion yuan (S$345 million).
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The unit was sued by the public prosecutor in January 2024 as an “accomplice” in contract fraud related to palm oil trades between state-owned enterprise Anhui Huawen and a privately owned counter-party, Yunnan Huijia Import & Export. The alleged fraud led to a 5.2 billion yuan loss for Anhui Huawen.
The judgment was handed down on Nov 19 by the Intermediate People’s Court of Huaibei City against Guangzhou Yihai, a subsidiary of Wilmar’s Shenzhen-listed arm, Yihai Kerry Arawana (YKA). YKA is 89.99 per cent owned by Wilmar.
In a bourse filing released the same day, Wilmar stated that the unit intends to contest the court’s decision, asserting that the court’s factual determinations, adoption of evidence and application of law were “erroneous”.
Cette histoire est tirée de l'édition November 21, 2025 de The Straits Times.
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