136.
INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
31.
COMMITMENTS AND CONTINGENCIES (CONT’D)
(c)
Contingent liabilities
Dispute of PT LPI’s HGU certificate
In May 2011, an individual filed a legal case against PT LPI for losses of Rp17.4 billion in respect of an area of
approximately 143 hectares located at Campany Tiga village. On 27 August 2015, PT LPI received the Supreme
Court’s decision to dismiss the appeal by the said individual. The case was considered closed and binding.
(d)
Sales commitments
As at 31 December 2015, the Group has sales commitments to deliver the following products to local and
overseas customers within the next three months:
2015
2014
(Tonnes)
(Tonnes)
Palm products
46,636
25,213
Rubber
595
1,109
Tea
126
83
Cocoa
143
95
Total
47,500
26,500
As at 31 December 2015, Lonsum also has sales commitments to deliver 1,075,153 (2014: 1,648,090) of oil palm
seeds to third party domestic customers within one month after the reporting date.
(e)
Commitments for capital expenditures
As of 31 December 2015, capital expenditure contracted for but not recognised in the financial statements
relating to purchase of property, plant and equipment as well as development of plantations amounting to
Rp806 billion, US$7.9 million, and JP¥ 58.4 million (2014: Rp1,357.6 billion, US$17.0 million, EUR0.5 million,
MYR0.3 million and JP¥ 40.2 million).
