“But that is a worst-case scenario. We believe the judgement or ruling from the Supreme Court in Indonesia would be more favourable,” Lim said at the group's first-half briefing on Wednesday, noting that PPB had not made any financial provisions at this stage.
PPB Group Bhd faces a potential financial impact of up to RM600 million ($182.9 million) in a worst-case scenario should its associate Wilmar International Ltd lose its appeal in Indonesia’s Supreme Court over alleged misconduct in palm oil export permits.
Managing director Lim Soon Huat said the amount, which translates into about 45 sen per PPB share, represents the group’s share of Wilmar’s US$729 million ($939.4 million) security deposit placed with Indonesia’s Attorney General’s Office (AGO).
