Stocks to watch: Wilmar, ICP

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Apr 15).

Wilmar International : The agribusiness group maintained its innocence after four judges who cleared it in a corruption case related to obtaining export permits, were reportedly arrested. A court last month acquitted three companies – Wilmar Group, Musim Mas Group and North Sumatra-based Permata Hijau Group – of charges of misconduct in obtaining export permits in 2022. A Reuters’ report on Monday said that three judges who made the ruling were arrested on Sunday night, following the arrest of a local court’s chief judge on bribery charges in the same matter. “We believe we are not guilty of the charges as our actions during that period to increase the supply of palm oil to the market, despite the additional cost incurred, was intended to help the government improve domestic supplies and reduce prices,” said Wilmar in a statement released after the market closed on Monday. The counter closed on Monday up 0.3 per cent, or S$0.01, to S$3.15 on a cum dividend basis.

Trading halt: ICP requested a trading halt on Tuesday morning, pending the release of an announcement. The counter closed on Monday 12.5 per cent or S$0.001 lower at S$0.007.