Business · Markets · 1 day ago
George Yeo buys 100,000 Wilmar shares as company faces haze inquiry
George Yeo bought 100,000 shares in Wilmar International on the open market on November 4, paying S$2.97 per share.
The purchase was worth S$297,000, or about Rp4.19 billion, and brought his total holdings to more than one million shares.
Yeo, a former Singapore foreign minister, joined the agribusiness company's board as an independent director in April 2024.
Wilmar's shares had fallen more than 14% in a month as Singapore examined possible links between companies and Indonesian land fires that worsened cross-border haze.
Singapore's National Environment Agency asked Wilmar and nine other listed companies for information about corporate ties, land concessions and fire prevention.
Wilmar is cooperating with an independent assessment appointed by the agency and says it has submitted an initial set of documents and information.
The agency's review will examine whether Wilmar was linked to fires that contributed to haze in Singapore and Malaysia.
George Yeo bought 100,000 shares in Wilmar International for S$297,000, or about Rp4.19 billion.
The purchase on 4 November raised his total holding in the agribusiness company to more than 1 million shares.
The buying came as Wilmar faced a Singapore inquiry into possible links between companies and Indonesian fires blamed for worsening cross-border haze.
Wilmar said it would cooperate with an assessment appointed by Singapore’s National Environment Agency.
Wilmar shares had fallen more than 14% in the previous month, according to the report.
- Who
- George Yeo, a Wilmar director and former Singapore foreign minister, bought the shares.
- What
- He bought 100,000 Wilmar shares for S$297,000.
- When
- The purchase took place on 4 November 2026.
- Where
- The shares were bought on the open market. Wilmar is an agribusiness company.
- Why
- The sources do not state why Yeo bought the shares. Wilmar is being examined over possible links to Indonesian fires that contributed to cross-border haze.
This story does not have two clearly opposing sides.
Singapore’s National Environment Agency sent notices to 10 listed companies, including Wilmar, seeking information about corporate links, Indonesian land concessions and fire prevention and suppression.
Wilmar chief executive Kuok Khoon Hong was among those called to a closed-door government meeting.
Wilmar said it had received notice that the agency had appointed Control Risks Group to assess possible links between the company and Indonesian fires.
Yeo bought 100,000 Wilmar shares on the open market.
CNBC Indonesia reported the purchase.
- Shares bought
- 100,000
- Transaction value
- S$297,000; about Rp4.19 billion
- Yeo's resulting holding
- More than 1 million shares
- Purchase price
- S$2.97 per share
- Inquiry notice
- Sent to 10 listed companies on 23 October