KONTAN.CO.ID - JAKARTA. Indonesia's attorney general's office has named three palm oil companies as suspects in a corruption investigation, alleging misconduct in obtaining export permits at a time when shipments were being restricted. The investigation comes after Indonesia's Supreme Court last month upheld a lower court's jailing of executives at those companies for manipulating documents or submitting false data to obtain export permits. Indonesia, which accounts for about 60% of the global palm oil supply, imposed tight export measures last year, including a three-week ban on shipments, to try to secure domestic supply to rein in soaring local cooking oil prices.
Indonesian Prosecutors Name 3 Palm Oil Groups Suspects in Corruption Case
KONTAN.CO.ID - JAKARTA. Indonesia's attorney general's office has named three palm oil companies as suspects in a corruption investigation, alleging misconduct in obtaining export permits at a time when shipments were being restricted. The investigation comes after Indonesia's Supreme Court last month upheld a lower court's jailing of executives at those companies for manipulating documents or submitting false data to obtain export permits. Indonesia, which accounts for about 60% of the global palm oil supply, imposed tight export measures last year, including a three-week ban on shipments, to try to secure domestic supply to rein in soaring local cooking oil prices.