Wilmar China unit appeals guilty verdict over contract fraud case
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Wilmar's China subsidiary, Yikhai Kerry Arawana Holdings, is appealing a guilty verdict for contract fraud, ordered to pay $345.6m in losses. The appeal was lodged with Anhui Provincial Higher People's Court. The fraud involved palm oil trades, causing a $951.6m loss for Anhui Huawen. The impact on profits is uncertain, and Wilmar supports the appeal, rejecting the judgment.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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