Home / Business and Economy / Wilmar Faces $150M Pakistan Investment Crisis
Wilmar Faces $150M Pakistan Investment Crisis
2 Mar
Summary
- Wilmar booked $150 million loss on Pakistan firm Unity Foods.
- Unity Foods faced difficulties servicing bank facilities.
- Unity's stock has more than halved this year.
Singapore-based Wilmar International Ltd. reported a significant $150 million loss tied to its investment in Pakistani agribusiness Unity Foods Ltd. The provision for losses arose after Wilmar discovered Unity Foods was facing difficulties servicing its bank facilities. This situation was unexpected, as Unity Foods' previous financial statements indicated profitability and substantial liquid assets. Unity Foods' stock has plummeted, losing more than half its value this year and reaching its lowest point since 2020. In recent months, Unity Foods has experienced considerable leadership changes, including the resignation of its founder CEO in December 2025 and the CFO in January 2026, followed by the new CEO and two independent directors in February 2026. These departures left the board without a functional quorum. Wilmar has sought guidance from Pakistani regulators regarding potential administrative appointments and an independent investigation into Unity Foods. This investment setback adds to Wilmar's broader challenges, including regulatory penalties in Indonesia and ongoing litigation involving a Chinese subsidiary.
