Wilmar Falls to Lowest Since 2016 After Court Imposes Fines

Wilmar International Ltd. shares tumbled to the lowest level in nine years after an Indonesian court quashed an acquittal against the group and ordered the company to relinquish a multi-million dollar security deposit.

The Asian food titan slumped as much as 3.8% in Singapore to the lowest since February 2016 on an intraday basis, before clawing back some losses. Wilmar announced the Supreme Court decision in a filing after market on Thursday.