Home THE DAILY EDGE Business Wilmar drops on Indonesian tax concern; Credit Suisse downgrade
Wilmar drops on Indonesian tax concern; Credit Suisse downgrade
Written by Bloomberg   
Wednesday, 19 May 2010 09:40
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Shares of Wilmar International dropped after Credit Suisse Group AG downgraded the stock to “underperform” from “neutral,” citing a newspaper report the company is being investigated in Indonesia.

Responding to the media report, Wilmar said yesterday in a statement to the Singapore stock that its Indonesian units have complied with local laws on value-added tax.
 
The stock declined 5.2% to $5.87 as of 9:13 a.m. in Singapore. It slumped as much as 8.7% earlier, the most decline since October 2008.
 
 
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Wilmar drops on Indonesian tax concern; Credit Suisse downgrade
Wednesday, 19 May 2010

Last Updated on Wednesday, 19 May 2010 09:41