George Yeo adds 100,000 Wilmar shares at S$2.97 apiece, taking stake to over 1 million shares
Shares of Wilmar are down by more than 14% over the past month
Former Singapore minister George Yeo added 100,000 shares in Wilmar International to his stake, bringing his ownership to over one million shares, according to a Singapore Exchange filing. Yeo, who is an independent director of the agri-business giant, purchased the shares on November 4 at S$2.97 per share. Shares of Wilmar, which owns oil palm concessions in Indonesia, have fallen by more than 14% over the past month.
The company faced scrutiny from the National Environment Agency (NEA) on October 23 due to concerns over corporate links, Indonesian land concessions, and fire prevention efforts amid worsening transboundary haze affecting Singapore and Malaysia. Wilmar's CEO, Kuok Khoon Hong, was summoned by the government for a closed-door meeting on October 29, prior to the passage of haze law amendments in Parliament on November 4.
In response to the NEA's appointment of Control Risks Group as an assessor to evaluate Wilmar's involvement in the Indonesian fires, the company agreed to engage both the assessor and legal adviser Dentons Rodyk & Davidson at its own expense. Wilmar also submitted the first batch of documents and information in response to an NEA notice received on October 23, and reported sales of fertilizers and diesel to companies linked to the haze to generate revenue of approximately US$22.5 million (S$28.8 million) in the 2025 financial year.
Yeo joined Wilmar's board in April 2024, having previously held executive roles at the Kerry Group of companies, which is controlled by the Kuok family.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
