Page 70 - ar2012

Notes to the Financial Statements
For the fnancial year ended 31 December 2012
1. Corporate information
Indofood Agri Resources Ltd. (the “Company”) is a public limited liability company incorporated and domiciled in Singapore and
is listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The registered offce and principal place of business of
the Company is located at 8 Eu Tong Sen Street, #16-96/97 The Central, Singapore 059818.
The Group is a vertically-integrated agribusiness group, with its principal activities comprising research and development, oil palm
seed breeding, cultivation of oil palm plantations, production and refning of crude palm oil (“CPO”) and crude coconut oil (“CNO”),
cultivation of rubber and sugar cane plantations and marketing and selling these end products. The Group is also involved in
managing and cultivating small portions of cocoa, coconut and tea plantations, and marketing and selling the related products.
These activities are carried out through the Company’s subsidiaries and associated company in which the Company is an investment
holding company.
PT Indofood Sukses Makmur Tbk (“PT ISM”), incorporated in Indonesia, and First Pacifc Company Limited, incorporated in Hong
Kong, are the penultimate and ultimate parent company of the Company, respectively. The immediate holding company is Indofood
Singapore Holdings Pte Ltd, incorporated in Singapore.
2. Basis of presentation of the consolidated financial statements
On 1 August 2011, a subsidiary of the Company, Indofood Oil & Fats Pte. Ltd. (“IOFPL”) had been amalgamated with the Company
with a view towards streamlining the corporate structure of the Group and in order to facilitate the up streaming of dividends to
the Company. Following the amalgamation, all the assets and liabilities of IOFPL (including investment in a subsidiary) had been
transferred and assumed by the Company.
3. Summary of significant accounting policies
3.1 Basis of preparation
The consolidated fnancial statements of the Group and the balance sheet of the Company has been prepared in accordance with
Singapore Financial Reporting Standards (“FRS”).
The fnancial statements have been prepared on the historical cost basis, except as disclosed in the accounting policies below.
The fnancial statements are presented in Indonesian Rupiah (“Rp”) and all values are rounded to the nearest million (Rp million)
except when otherwise indicated.
3.2 Changes in accounting policies
The accounting policies adopted are consistent with those of the previous fnancial year except in the current fnancial year, the
Group has adopted all the new and revised standards that are effective for annual periods beginning on or after 1 January 2012.
The adoption of these standards did not have any effect on the fnancial performance or position of the Group and the Company.
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