INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
18.
INVESTMENT IN SUBSIDIARY COMPANIES (CONT’D)
(d)
Acquisition of non-controlling interest by the Company
During the financial year, the Company acquired 7,570,300 of Lonsum shares by way of market purchases on
Indonesia Stock Exchange for Rp11.8 billion.
(e)
Acquisition of subsidiary
PT Wushan Hijau Lestari (“PT WHL”)
In December 2015, Lonsum and PT Lentera Sukses Sejati, a third party, incorporated PT WHL with a total
issued and fully paid share capital of Rp20 billion. Lonsum’s capital contribution was Rp13 billion representing
65% interest in PT WHL.
PT WHL is engaged in the development of agriculture, forestry, fishery and trading.
19.
INVESTMENT IN ASSOCIATE COMPANIES
The Group’s material investments in associate companies are summarised below:
Group
2015
2014
Rp million
Rp million
Associate companies which are strategic to the Group activities
Heliae Technology Holdings, Inc
132,946
74,775
FP Natural Resources Limited
554,286
335,783
Asian Assets Management Pte Ltd
523,413
–
PT Prima Sarana Mustika
6,635
5,902
1,217,280
416,460
Group
2015
2014
Rp million
Rp million
Cost of investment, at cost
1,431,967
611,003
Share of results and other comprehensive loss of associate companies
(341,880)
(256,619)
Foreign currency translation
127,193
62,076
Carrying value of investment in associate companies
1,217,280
416,460
