History & Milestones
Before Wilmar...
The Kuok Group, a key shareholder of Wilmar, incorporated Federal Flour Mills, now known as FFM Berhad, in Malaysia in 1966. Commencement of other earlier projects include a 400 MT/day soybean crushing plant and a 200 MT/day edible oils refinery in August 1980 and February 1981 respectively for the PGEO Group in Pasir Gudang, Malaysia. Arawana consumer pack oil was launched in Malaysia in 1986. This was followed by the acquisitions of refineries in Sandakan and Prai.
PGEO Refinery.
In 1988, the Kuok Group formed a joint venture (JV), Southseas Oils & Fats, with Top Glory, a subsidiary of COFCO in Hong Kong, to build China’s first large-scale modern refinery, drum and consumer pack plant in Shenzhen. The plant was commissioned in 1990 and became a huge success. Arawana oil was launched in 1991 in China and is today the country’s top consumer pack oil brand.
Southseas Oils & Fats Industrial (Chiwan) in Shenzhen, China today.
Consumer pack plant at Southseas Oils & Fats
1991, 1 April
The Wilmar Group was co-founded by Mr Kuok Khoon Hong and Mr Martua Sitorus. The first company formed was Wilmar Trading Pte Ltd which had a paid-up capital of SGD100,000 and five employees.
Wilmar’s global headquarters on Biopolis Road today.
The company’s first project was PT Agra Masang Perkasa (AMP) – a 7,000 ha oil palm plantation in West Sumatra, Indonesia. Today, Wilmar is one of the world’s largest oil palm plantation owners with upstream operations in Indonesia, Malaysia, Uganda, Ivory Coast, Ghana and Nigeria.
PT AMP – A mature plantation today.
The plantation project was followed by a 50 MT/day palm kernel crushing plant in North Sumatra and a 700 MT/day refinery in Dumai, Indonesia. Riding on the back of a growing refining business, the refinery, commissioned in 1993, was expanded to 2,400 MT/day by 1995.
The Indonesian business flourished and today we are the largest palm oil refiner, palm kernel and copra crusher, as well as specialty fats, oleochemicals biodiesel and consumer pack oils manufacturer in the country.
Refinery in Dumai today.
1993
Ventured into China through a JV with Archer Daniels Midland (ADM) and Top Glory, a subsidiary of COFCO, and started construction of East Ocean Grains Industry (EOGI) which at the time was the first large, integrated oils and grains manufacturing complex in China. Following its huge success, Wilmar and ADM went on about three years later to build five large-scale crushing plants mainly along the coast.
Commissioned in 1995, EOGI comprised silos, storage tanks, soybean crushing plant, flour, rice and feed mills, refinery, drum manufacturing plant and consumer pack plant.
Locations of crushing plants built by Wilmar and ADM
Formed a JV with the Adani Group of India to refine edible oils and manufacture consumer pack edible oils in Bangladesh.
Started ship ownership with the purchase of 6,000 MT tanker, MT. Lisa. The domestic fleet in Indonesia and China started in 1995 and 2004 respectively. The Group’s fleet has since grown to include both owned and managed vessels, with a combined fleet tonnage of about 2.8 million MT.
Refinery in Dhaka, Bangladesh.
1994
ADM invested in 20% of Wilmar. Around the same time, other investors took another 20%. ADM remains a long-standing investor and business partner of the Group today.
1999
Formed a JV, Adani Wilmar Limited, with the Adani Group in India. Its first project, a 600 MT/day oil refinery and consumer pack plant in Mundra, Gujarat commenced operation in 2000 and was expanded by another 1,000 MT/day in 2002. Adani Wilmar operates more than 100 plants in India today and its ‘Fortune’ brand is the country’s top-selling consumer pack soft oils.
Inauguration of the edible oil refinery complex in Mundra was graced by Guest-of-Honour, Mr Narendra Modi, then Chief Minister of Gujarat.
Refinery in Mundra, India today.
2000
Inaugural footprint in Africa with the acquisition of a 50% stake in Southcomm, an oil trading firm selling mainly to South Africa and Tanzania. This was followed by the acquisition of a 50% stake in Kenya-based oil trading company Josovina Commodities in 2001.
The next project was an oil palm plantation and refinery in Kalangala, Uganda developed jointly with Bidco Uganda Limited.
Today Wilmar is in 16 countries across Africa and we are one of the largest oil palm plantation owners, edible oils refiners and producers of consumer pack oils, soaps and detergents, as well as the third largest sugar producer.
Developed jointly with Bidco Uganda Limited, Wilmar’s first oil palm plantation in Africa is on Lake Victoria in Kalangala, Uganda.
2004
Established a JV with Pyramid Ltd to build the first 200 MT/day refinery and consumer pack oil plant in Colombo, Sri Lanka. It is today the country’s largest refinery, consumer pack oil and specialty fats manufacturer.
Refinery in Sri Lanka.
2005
First oleochemical plant was commissioned in Shanghai, China.
Entered a JV for an oil refinery project in Yuzhny, Ukraine and in 2008 merged it with NMGK which had refineries, crushing plants, margarine, mayonnaise and soap manufacturing plants in Russia.
The Yuzhny plant is the largest refinery in Ukraine and NMGK is the largest seller of table margarine, mayonnaise and sauces in Russia.
Refinery in Yuzhny, Ukraine.
Refinery in Sorochinsk, Russia.
2006, 8 August
Wilmar’s oil palm business was listed on the Singapore Stock Exchange with an initial market capitalisation of SGD2.38 billion.
(From left to right) Ms Sng Miow Ching, Mr Chua Puay Hee, Mr Kuok Khoon Hong, Pak Martua Sitorus and Mr Teo Kim Yong at the IPO briefing on 19 July 2006.
Entered into the flour and rice milling business in China with the first flour mill in Zhoukou and the first rice mill in Jiamusi.
Rice Mill in Jiamusi, China.
Flour Mill in Zhoukou, China.
2007, 28 June
Wilmar merged with the Kuok Group’s oils and grains and oil palm plantation business. The merger created the largest merchandiser and refiner of palm oil, the largest integrated agri- group in Asia and one of the largest listed oil palm plantation companies. At the time of merger in 2007, the Kuok Group had oil palm plantation of 63,000 ha in East Malaysia and 56,000 ha in Indonesia while Wilmar had 76,000 ha in Indonesia. The Group’s market capitalisation after the merger was SGD20.3 billion.
Wilmar’s first oil refinery in Vietnam (through merger with the Kuok Group) was a joint venture with Vocarimex which commenced operation in 1988.
Through the merger, Wilmar had extended its footprint to Vietnam with two refineries and a rice bran oil extraction plant, as well as to Europe with two refineries.
In addition, Wilmar bought two copra crushing plants with total crushing capacity of 1,000 MT/ day and a 350 MT/day refinery in the Philippines. The first biodiesel plant was commissioned in Pelintung, Indonesia.
Refinery in Brake, Germany.
Refinery in Rotterdam, Netherlands.
2010
Wilmar expanded into the sugar business through the acquisition of Sucrogen Limited (known today as Wilmar Sugar) in Australia – one of the world’s largest sugar companies, and PT Jawamanis Rafinasi – a leading sugar refiner in Indonesia. Proserpine Mill, fifth largest sugar mill in Australia, and PT Duta Sugar International in Indonesia were added to the sugar business the following year.
Cane harvesting in Burdekin, North Queensland, Australia.
Sugar Refinery in Indonesia.
2013
First venture in the United States, Wilmar Oils & Fats (Stockton), LLC, commenced operations. It processes palm, coconut and palm kernel oils for the California and neighbouring West Coast markets.
Refinery in Stockton, California, United States.
2014
Acquired a 100-acre site in Thilawa Port Area, Yangon, to build an international wharf and integrated processing facilities. The jetty was completed in 2018. The Group is the largest exporter of palm oil to Myanmar and a leading seller of consumer pack oil.
Formed a JV with Great Wall Food Stuff Industry Company Limited, the leading sugar company in Myanmar. The JV operates two sugar mills, a bio-ethanol plant and an organic compound fertiliser plant.
Acquired a strategic stake in Shree Renuka Sugars Limited which has seven mills, two port-based refineries and a consumer brand Madhur. Today we own about 62% in the leading sugar company in India.
Thilawa Port, Myanmar.
2015
Wilmar acquired Goodman Fielder together with First Pacific, each taking 50%. Goodman Fielder’s origins date back to 1909. Today, it is Australasia’s leading food company with a portfolio of consumer products including breads, dairy, dressings, mayonnaise, spreads & oils and poultry. In 2019, the Group completed the acquisition of the balance 50% shareholding interest in Goodman Fielder, making it a wholly-owned subsidiary of Wilmar.
For generations, millions of Australians and New Zealanders have turned to Goodman Fielder brands for top shelf performance in reliability, quality and affordability.
2019
The Group’s edible oil packing plant and flour mill in Thilawa, Myanmar, commenced operation in October 2019.
Our edible oil packing plant is the largest in Myanmar.
2020
The Group’s Chinese subsidiary, Yihai Kerry Arawana, successfully listed on the Shenzhen Stock Exchange ChiNext Board on 15 Oct 2020. At the issue price of RMB25.70 per share, the initial public offering raised about RMB13.93 billion - making it the largest in Shenzhen.
The listing of YKA is a significant milestone in Wilmar’s growth journey and marks a new chapter of accelerated growth in China.
The listing of YKA is a significant milestone in Wilmar’s growth journey and marks a new chapter of accelerated growth in China.
2022
Adani Wilmar Limited (AWL), the Group's 43.94% associate, made its debut on the National Stock Exchange of India and BSE on 8 February 2022, with a successful initial public offering that raised US$482 million of new capital.
AWL is the largest food and fast-moving consumer goods (FMCG) company in India.
Entered the Food Park business in China to address the growing demand for ready-to-eat and ready-to-cook meals in urban areas. The Group's first Central Kitchen and Food Park commenced operations in April 2022, in Hangzhou. Today, the Group has five Food Parks in operation and five under construction.
Food Park in Hangzhou, China
TODAY
A leading agribusiness group in Asia and one of the largest globally.
The Group has over 1,000 manufacturing plants in over 30 countries and regions.
Extensive distribution network covering China, India, Indonesia and some 50 other countries and regions.
- Completed the acquisition of the balance 24% interest in Calofic Corporation from Viet Nam Vegetable Oils Industry Corporation in March 2023. Calofic Corporation is the largest manufacturer and distributor of vegetable oils and associated products in Vietnam.
- Completed a 100% equity acquisition of Anamika Sugar Mills in October 2023 through our 62.5% listed subsidiary, Shree Renuka Sugars Limited (SRSL).
- Completed acquisition of Cosumar S.A.’s entire 43.275% equity interest in Durrah Advanced Development Company, increasing our existing 5% equity interest in Durrah to 48.275%.
- Completed the expansion of our saponification operations in Ethiopia.
- Adani Wilmar Limited (AWL), Wilmar’s 50:50 joint venture, successfully listed on the National Stock Exchange of India and BSE on 8 February 2022.
- Commenced operation of first Central Kitchen and Food Park in Hangzhou, China in April 2022.
- Commenced operation of new edible oil refinery in Port Klang, Malaysia in September 2022.
- Pledged to develop a sectoral roadmap for enhanced supply chain action consistent with a 1.5°C pathway by COP27.
- Yihai Kerry Arawana, Wilmar's Chinese subsidiary, successfully listed on the Shenzhen Stock Exchange ChiNext Board on 15 Oct 2020.
- Completed additional investment in Shree Renuka Sugars Limited, raising our stake to about 62% in the leading sugar company in India.
- Acquired a 51% interest in Kuching Palm Oil Industries Sdn Bhd (previously known as Assar Refinery Sdn Bhd) in Kuching, Sarawak and a 70% interest in Greenfarm Food Industries Sdn Bhd based in Johor through our direct wholly-owned subsidiary PGEO Group Sdn Bhd. The principal activities of Greenfarm Food are manufacturing and trading of plant-based food.
- Commenced operation of edible oil packing plant and flour mill in Thilawa, Myanmar in October 2019.
- Completed the acquisition of the balance 50% interest in Goodman Fielder from First Pacific Company Limited in December 2019. Goodman Fielder is Australasia’s leading food company with a portfolio of well-known brands in some of Australia’s and New Zealand’s largest grocery categories.
- Acquired the remaining 50% equity interest in Nauvu Investments Pte Ltd from Olam International Limited. Nauvu is invested in integrated palm oil, rubber and sugar assets in Africa, including upstream plantations, midstream processing and downstream merchandising and distribution operations. Nauvu holds a strategic stake in SIFCA Group, one of Africa’s largest agro industrial groups.
- Acquired Bunge’s global book of open sale and purchase contracts for raw and white sugar, in line with our plan to expand our global footprint in the sugar merchandising business.
- Entered into a conditional 50:50 joint venture agreement with Tokyo-listed Lion Corporation for the manufacture and sale of methyl ester sulfonate, an ingredient used to produce detergents.
- Acquired a 50% equity interest in Aalst Chocolate Pte Ltd, a home-grown chocolate manufacturer in Singapore.
- Entered into an agreement to purchase Cargill’s edible oil facilities including a palm oil refinery and a storage facility in Kuantan, Malaysia, marking our first presence in the east coast of Peninsular Malaysia.
- Entered into joint ventures with Singapore Food Industries to operate central kitchens in China.
- Formed a 50:50 sugar joint venture with Raizen Energia S.A. called “Raizen and Wilmar Sugar Pte Ltd” which is set to become one of the largest exporters of Brazilian sugar to the world.
- Olenex was launched as a full-function joint venture between Wilmar and ADM.
- Formed a joint venture with Bunge in Vietnam by acquiring 45% of Bunge’s equity in its Vietnam crush operations, creating a three-party joint venture with Bunge and Wilmar as equal 45% shareholders and Quang Dung – a leading soybean meal distributor in Vietnam and majority owner of Green Feed, a growing Vietnamese feed milling business – retaining its existing 10% stake in the operations.
- Entered into an agreement whereby Olenex, a partnership with ADM to market oils and fats in Europe, will become a full-function joint venture with its own assets. This joint venture will also integrate raw materials sourcing, trading, as well as sales and marketing operations.
- Established Nam Duong International Foodstuff Corporation, a joint venture company with Saigon Union of Trading Cooperatives, for the manufacture of sauces and condiments for both the domestic and export markets.
- Formed Volac Wilmar Feed Ingredients, a joint venture group with Volac International Limited, to develop the added value animal feed fat business around the world
- Formed joint venture company in Myanmar with Great Wall Food Stuff Industry Company Limited which shall acquire two sugar mills, a bioethanol plant and an organic compound fertiliser plant
- Acquired an ethoxylation facility in Lavera, France from Huntsman Corporation
- Entered into an agreement to acquire a strategic stake in Mumbai-based Shree Renuka Sugars Limited. Subject to relevant regulatory approvals, this investment will allow the Group to establish a significant presence in India and Brazil, the two most important sugar markets
- Established footprint in Ethiopia through a joint investment agreement with Repi Soap and Detergent S. Co. for the upgrading of an existing manufacturing facility and building of a new integrated manufacturing complex
- Acquired 27.5% stake in Cosumar S.A., the sole sugar supplier in Morocco. The company is also the third largest sugar producer in Africa, with ownership of one of the largest refineries in the world
- Extension of the partnership with Tereos, to include corn and potatoes, and the formation of new Joint Venture in a corn starch facility in Tieling (Liaoning Province), northern China
- Acquisition of 35% equity interest in Estate Management Services (Private) Limited (“EMSPL”) by Pyramid Wilmar Plantations (Private) Limited (an indirect 87.5% owned subsidiary of Wilmar). EMSPL’s principal activities are managing and superintending estates and plantation property in Sri Lanka.
- Joint venture with Elevance Renewable Sciences, Inc., began shipping commercial products including novel specialty chemicals from their first world-scale biorefinery located in Wilmar’s integrated manufacturing complex in Gresik, Indonesia. The biorefinery is the first to utilise Elevance’s proprietary metathesis technology.
- Joint venture with Clariant International Ltd, The Global Amines Company Pte Ltd, commenced production of amines in Lianyungang, China
- First venture in the United States, Wilmar Oils & Fats (Stockton), LLC, commenced operations
- Pledged commitment to an integrated policy of No Deforestation No Peat No Exploitation Policy that aims to advance an environmentally and socially responsible palm oil industry
- Issued S$250,000,000 of 3.50% 5-year Notes and S$100,000,000 of 4.10% 7-year Notes
- Formed strategic partnership with Archer Daniels Midland Company (ADM) in tropical oils refining in Europe, global fertiliser purchasing and distribution, and global ocean freight operations. Launched Olenex CV. headquartered in Rolle, Switzerland to handle the sales and marketing of refined vegetable oils and fats to European Area and Switzerland.
- Established a 50:50 joint venture company, Yihai Kerry Kellogg Foods (Shanghai) Company Ltd, with Kellogg Company for the manufacture, sale and distribution of breakfast cereals and savoury snacks in China
- Formed a 50:50 Joint Venture with Clariant Ltd for production and sales of amines and selected amines derivatives
- Acquired approximately 30,000 hectares of land in Nigeria for expansion of oil palm plantations
- Establishment of Dongguan Yihai Kerry Syral Starch Technology Co., Ltd, a 51:49 joint venture between Yihai Kerry Investments Co., Ltd, an indirect wholly-owned subsidiary of Wilmar, and Syral China Investment, a wholly-owned subsidiary of Tereos Internacional, part of the French cooperative agro-industrial group Tereos. The principal activities of DYKSS will be the development, promotion, marketing, manufacturing and sale in China and export from China of wheat starch and derivatives (including sweeteners), and wheat gluten.
- Further expanded into the sugar business through the acquisition of PT Duta Sugar International in Indonesia and Proserpine Mill in Australia
- Expanded its African footprint to Ghana through the acquisition of Benso Oil Palm Plantations Limited, a company listed on Ghana Stock Exchange
- Established South African subsidiary, Wilmar Continental Edible Oils and Fats (Pty) Limited (“Wilmar Continental”). Wilmar Continental is an indirect 54.61% owned subsidiary of Wilmar held through Wilmar Resources Pte Ltd and Equatorial Trading Limited. The principal activities of Wilmar Continental include oilseed crushing, refining and bottling of edible oils and distribution to manufacturers, wholesale and the retail markets.
- Expanded into the sugar business through the acquisition of Sucrogen Limited (now known as Wilmar Sugar Australia Limited), the largest raw sugar producer and refiner in Australia, and PT Jawamanis Rafinasi, a leading sugar refinery in Indonesia
- Acquired Natural Oleochemicals, a leading oleochemicals producer with significant market share in Europe and Asia and a growing presence in USA
- Formation of joint venture with Elevance Renewable Sciences, to construct a world sale biorefinery to produce green olefins, multifunctional esters and acids, and premium mixture of oleochemicals and advanced biofuels
- Acquisition of business of Windsor & Brook Trading Pte Ltd, a Singapore sugar trading company, by Wilmar’s wholly owned subsidiary, Wilmar Trading Pte Ltd
- Joint Venture between Wilmar and PZ Cussons to establish a palm oil refinery and food ingredients business in Nigeria
- Formed a joint venture with Nizhny Novgorod Fats & Oils Group and Delta Exports Pte Ltd to spearhead expansion in Russia and the CIS countries
- Completed the merger with Kuok Group’s palm plantation, edible oils, grains and related businesses in a deal worth US$2.7 billion, as well as a restructuring exercise to acquire the edible oils, oilseeds, grains and related businesses of Wilmar Holdings Pte Ltd (WHPL), including interests held by Archer Daniels Midland Asia Pacific (ADM) and its subsidiaries in these businesses, for US$1.6 billion
- Formed a joint venture with Olam International Ltd and SIFCA Group, one of Africa’s largest agro-industrial groups with significant interests across palm oil, cotton seed oil, natural rubber and sugar sectors in Africa. The JV was aimed at developing a regional leadership position in palm oil, natural rubber, sugar and potentially in other agricultural plantation crops in Africa
- Successfully launched the inaugural US$600 million convertible bonds issue due 2012
- Entry into the Philippines with the setting-up of two coconut oil mills and refineries in Roxas, Zamboanga del Norte and Gingoog, Misamis Oriental
- Renamed Wilmar International Limited on 14 July 2006 upon completion of the reverse takeover of Ezyhealth Asia Pacific Ltd
- Re-listed on the Singapore Exchange on 8 August 2006 after a successful equity placement exercise at S$0.80 per share, which raised approximately US$180 million
- Concluded a major capacity expansion drive through the completion of:
- three refineries with an aggregate daily capacity of 4,500 MT
- three fractionation plants with an aggregate daily capacity of 4,500 MT
- four palm kernel crushing plants with an aggregate daily capacity of 800 MT
- four palm oil milling plants with an aggregate hourly capacity of 200 MT
- one compound fertiliser manufacturing plant with a daily capacity of 1,000 MT
- one refinery (daily capacity of 2,500 MT) and one fractionation plant (daily capacity of 2,000 MT) in East Malaysia, in a joint-venture with TSH Resources Bhd
- Expanded oil palm plantation acreage through:
- Acquisition of five plantation companies with a combined land bank of 85,000 hectares in Kalimantan, Indonesia
- Acquisition of 25,000 hectares land bank by two existing subsidiaries
- Acquisition of a plantation company with a land bank of 30,000 hectares in Jambi, Sumatra, of which 12,700 hectares are planted
- Acquired a controlling interest in Jakarta Stock Exchange listed PT Cahaya Kalbar Tbk, a producer of specialty oils and fats for the chocolate, cocoa confectionery industry, bakery and cakes ingredient industry, and beverage and food industry
- First oleochemical plant commenced operation in Shanghai
- Established first compound fertiliser manufacturing plant with a production capacity of 120,000 tonnes per year
- Began developing and marketing own brand of Sania edible oil consumer pack in Indonesia to create brand awareness
- Acquired three copra crushing plants in Sulawesi with an aggregate daily capacity of 900 MT
- Entered the Indian market through Wilmar Adani Limited, a joint venture with the Adani Group of India
- Expanded into the production of higher value-added downstream products through the establishment of the first specialty fats plant with a capacity of 100 MT per day
- Expanded refinery operations into Malaysia with the acquisition of one palm oil refinery plant and one fractionation plant in Butterworth, Malaysia. Both plants were upgraded from a daily capacity of 500 MT to 1,000 MT upon commissioning
- Established first palm oil milling plant with a capacity of approximately 40 MT per hour
- Purchased first liquid bulk vessel with cargo capacity of 6,500 dwt to provide logistics and transportation support to business operations
- Commenced operations as a palm oil trading company
- Established first oil palm plantation in Western Sumatra from the land bank
- Acquired two crushing plants in Northern Sumatra and Riau, each with a capacity of approximately 50 MT per day
- Acquired a refinery in South Sumatra with a capacity of approximately 100 MT per day
- Started construction of a 700 MT capacity refinery in Riau
