Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated with limited liability under the laws of Bermuda)
Website: http://www.firstpacific.com
(Stock Code: 00142) ANNOUNCEMENT MADE BY PT INDOFOOD SUKSES MAKMUR TBK IN RELATION TO ITS UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014This Announcement is made by First Pacific Company Limited ("First Pacific" or the "Company") pursuant to the requirements of Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("HKEX") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) to provide shareholders of First Pacific and the public with the unaudited consolidated financial results of PT Indofood Sukses Makmur Tbk ("Indofood"), a subsidiary of the Company, for the nine months ended 30 September 2014.
Summary
The board of directors of Indofood approved the release of the unaudited consolidated financial results for the nine months ended 30 September 2014, which have been submitted to the Indonesia Stock Exchange on 31 October 2014, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company.
Indofood, a 50.1% owned subsidiary of the Company, is a company incorporated in Indonesia whose shares are listed on the Indonesia Stock Exchange. The board of directors of Indofood approved the release of the unaudited consolidated financial results for the nine months ended 30 September 2014, which have been submitted to the Indonesia Stock Exchange on 31 October 2014, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company. The unaudited consolidated financial statements have been prepared in conformity with the generally accepted accounting principles in Indonesia and are presented in Indonesian Rupiah. Indofood's unaudited Consolidated Statements of Comprehensive Income for the nine months ended 30 September 2014 and 30 September
2013, as well as unaudited Consolidated Statement of Financial Position as at 30
September 2014 and audited Consolidated Statement of Financial Position as at 31
December 2013 are provided below:
1
PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014 AND 2013 (UNAUDITED)(Expressed in Millions of Rupiah, Unless Otherwise Stated)
2014 2013 Rp Rp NET SALES 50,393,490 41,279,123
Selling and distribution expenses (4,643,695) (3,456,533) General and administrative expenses (3,070,989) (2,255,847) Other operating income 385,182 739,983
Other operating expenses (235,908) (289,689)
Finance income 626,737 488,582
Finance expenses (1,247,902) (2,081,494)
Share in net income (loss) of associates (41,358) 139,341
Income Tax Expense - Net (1,412,914) (844,202)
Pro Forma Adjustment - 1,749
Unrealized gains (losses) on available-for-sale
financial assets (31,418) 189,802
Exchange differences on translation of
financial statements (66,462) 1,012,158
Fair value gain arising from cash flow hedges 79,773 -
Equity holders of the parent entity 3,029,375 1,922,110
Non-controlling interests 949,676 547,140
Equity holders of the parent entity 3,003,195 2,860,597
Non-controlling interests 957,749 810,613
2
PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2014 (UNAUDITED) AND 31 DECEMBER 2013 (AUDITED)(Expressed in Millions of Rupiah, Unless Otherwise Stated)
30 September 31 December 2014 2013 Rp RpASSETS
CURRENT ASSETS
Cash and cash equivalents 13,765,398 13,666,194
Time deposits 7,165,435 3,398,300
Short-term investments 661,414 692,832
Accounts receivable
Trade
Third parties - net 3,569,928 4,053,300
Related parties 423,996 375,733
Non-trade
Third parties 292,855 322,114
Related parties 281,449 208,269
Inventories - net 10,057,505 8,160,539
Advances and deposits 717,517 884,410
Prepaid taxes 370,899 203,619
Future crop expenditures 152,988 143,896
Prepaid expenses and other current assets 496,722 355,291
Claims for tax refund 452,419 565,241
Plasma receivables - net 565,125 632,661
Deferred tax assets - net 1,556,432 1,249,370
Long-term investments 1,984,106 1,573,095
Plantations
Mature plantations - net 5,169,668 4,742,845
Immature plantations 2,913,192 2,847,525
Industrial timber plantations - net 276,900 269,020
Fixed assets - net 24,539,628 23,027,913
Deferred charges - net 621,741 529,943
Goodwill - net 3,970,420 3,970,420
Intangible assets - net 2,749,783 1,931,957
Long-term prepayments 1,311,552 1,280,156
Advances for stock subscription in associate - 259,700
Other non-current assets 2,127,923 2,748,446
3
PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2014 (UNAUDITED) AND 31 DECEMBER 2013 (AUDITED)
(Expressed in Millions of Rupiah, Unless Otherwise Stated)
30 September 2014 Rp | 31 December 2013 Rp | |
LIABILITIES AND EQUITY | ||
LIABILITIES CURRENT LIABILITIES Short-term bank loans and overdraft | 7,053,177 | 4,625,586 |
Trust receipts payable Trade payables Third parties | 5,295,807 3,008,144 | 4,103,558 3,400,715 |
Related parties | 546,054 | 277,135 |
Other payables - third parties | 1,319,760 | 1,172,720 |
Accrued expenses | 1,768,132 | 1,513,147 |
Short-term employee benefits liability | 774,199 | 770,224 |
Taxes payable Current maturities of long-term debts Bank loans | 684,553 1,073,207 | 305,536 954,935 |
Bonds payable and Sukuk Ijarah payables | 729,639 | 2,336,642 |
Liability for purchases of fixed assets | 10,649 | 11,111 |
Total Current Liabilities | 22,263,321 | 19,471,309 |
NON-CURRENT LIABILITIES Long-term debts - net of current maturities Bank loans | 14,081,554 | 13,294,577 |
Bonds payable | 3,984,617 | 1,993,227 |
Liability for purchases of fixed assets | 34,817 | 36,511 |
Total long-term debts | 18,100,988 | 15,324,315 |
Deferred tax liabilities - net Advances for stock subscription from non-controlling interests | 1,253,149 - | 1,278,384 213,150 |
Due to related parties | 516,172 | 515,443 |
Liabilities for employee benefits | 3,190,192 | 2,729,970 |
Estimated liabilities for assets dismantling costs | 53,693 | 50,923 |
Other long-term payables | 50,779 | 136,166 |
Total Non-current Liabilities | 23,164,973 | 20,248,351 |
TOTAL LIABILITIES | 45,428,294 | 39,719,660 |
4
PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2014 (UNAUDITED) AND 31 DECEMBER 2013 (AUDITED)(Expressed in Millions of Rupiah, Unless Otherwise Stated)
30 September 31 December 2014 2013 Rp Rp EQUITY Equity Attributable to Equity Holders of the Parent Entity
Capital stock - Rp100 (full amount) par value per share
Authorized - 30,000,000,000 shares
Issued and fully paid - 8,780,426,500 shares 878,043 878,043
Additional paid-in capital 522,249 522,249
Unrealized gains on available-for-sale
financial assets 532,952 554,051
Difference from changes in equity of
subsidiaries and effects of transactions with
non-controlling interests 6,581,422 6,579,227
Exchange differences on translation of
financial statements 1,440,266 1,505,767
Retained earnings
Appropriated 90,000 85,000
Unappropriated 15,292,715 13,524,258
5
GENERAL
Shareholders should note that the above unaudited and audited consolidated financial results pertain only to Indofood and not to First Pacific itself.
The above information only refers to certain sections of Indofood's disclosure and shareholders should refer to Indofood's original filing submitted to the Indonesia Stock Exchange (http://www.idx.co.id), as well as disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company on 31
October 2014.
By Order of the Board
Company Secretary
Hong Kong, 31 October 2014
As at the date of this announcement, the Board comprises the following Directors:
Executive Directors:
Manuel V. Pangilinan, Managing Director and CEO
Edward A. Tortorici
Robert C. Nicholson
Non-executive Directors:
Anthoni Salim, Chairman
Benny S. Santoso
Tedy Djuhar
Napoleon L. Nazareno
Independent Non-executive Directors:
Graham L. Pickles
Prof. Edward K.Y. Chen, GBS, CBE, JP Margaret Leung Ko May Yee, SBS, JP Philip Fan Yan Hok
6
distributed by |