INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
19.
INVESTMENT IN ASSOCIATE COMPANIES (CONT’D)
Asian Assets Management Pte. Ltd.(“AAM”)
In June 2015, Lonsum and a subsidiary of PT ISM, PT Indofood CBP Sukses Makmur Tbk acquired for a combined of
100% equity interest in AAM, whereby each entity subscribed for 56,700,000 of new shares representing 50% equity
interest in AAM for a consideration of US$39 million (approximately Rp519.3 billion). AAM became a-50% associate
company of Lonsum. AAM is a private limited company incorporated and domiciled in Singapore, which in turn owns
100% equity interest in PT Aston Inti Makmur, an Indonesian-incorporated company engages in the property business
and operates an office building.
PT Prima Sarana Mustika (“PT PSM”)
In January 2014, PT Wahana Inti Selaras (“PT WIS”), a related party, and PT SIMP, established PT PSM with a total
issued and fully paid share capital of Rp15 billion. PT SIMP’s capital contribution was Rp6 billion representing 40%
interest in PT PSM. PT PSM is engaged primarily in the development of plantations’ infrastructures, land clearing,
rental services of heavy equipment, transportation and trading of agricultural equipments.
The summarised financial information in respect of FPNRL and AAM, based on its FRS financial statements and a
reconciliation with the carrying amount of the investment in the consolidated financial statements are as follows:
Summarised balance sheet
FPNRL
AAM
2015
2014
2015
2014
Rp million
Rp million
Rp million
Rp million
Current assets
1,494,716
74,354
140,268
–
Non-current assets
6,112,868
1,169,994
991,099
–
Total assets
7,607,584
1,244,348
1,131,367
–
Current liabilities
2,892,784
76,954
8,461
–
Non-current liabilities
1,712,456
29,271
75,988
–
Total liabilities
4,605,240
106,225
84,449
–
Net assets
3,002,330
1,138,123
1,046,918
–
Proportion of the Group’s ownership
30.00%
30.00%
50.00%
–
Group’s share of net assets
900,699
341,437
523,459
–
Foreign currency translation
(346,413)
(5,654)
(46)
–
Carrying amount of the investment
554,286
335,783
523,413
–
