Indonesia probes Musim Mas, Wilmar for 'under-invoicing' of exports, finance minister says

JAKARTA — Indonesia's finance minister said on Tuesday (May 26) that Wilmar International Limited and the Musim Mas Group are among the palm oil companies now being probed for suspected "under-invoicing" of exports.

Here are the details:

Finance Minister Purbaya Yudhi Sadewa, replying to questions by reporters, said the two companies are among palm oil companies under investigation for under-invoicing.

Wilmar International and Musim Mas Group did not immediately respond to a request for comment.

Singapore-based Wilmar is one of the world's largest oil palm plantation owners with a total planted area of 234,334 hectares by the end of 2025, of which about 66 per cent is located in Indonesia, according to its website.

Musim Mas Group, also based in Singapore, is a major integrated palm oil company operating in 14 countries, with primary operations in Indonesia, according to its website.

Indonesia, the world's largest palm oil producer and exporter, unveiled a sweeping plan last week to centralise exports of key commodities such as palm oil and coal, aiming to boost government revenue through tighter control over the sale and pricing of its abundant natural resources.

"Under-invoicing" involves the invoicing of goods below their market price, often to hide profits and avoid taxes.

President Prabowo Subianto said tackling the practice was one of the key goals of the new plan, claiming that selling commodities on the cheap had lost the country US$908 billion (S$1.16 trillion) since 1992.

Indonesian palm oil fresh fruit bunch prices have collapsed at the farmers' level following the announcement.

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