First Pacific : Announcement made by PT Indofood Sukses Makmur Tbk in relation to its unaudited consolidated financial results for the three months ended 31 March 2017

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.

第一太平有限公司

(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 THREE MONTHS ENDED 31 MARCH 2017

This 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 three months ended 31 March 2017.

Summary

The board of directors of Indofood approved the release of the unaudited consolidated financial results for the three months ended 31 March 2017, which have been submitted to the Indonesia Stock Exchange on 28 April 2017, 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 three months ended 31 March 2017, which have been submitted to the Indonesia Stock Exchange on 28 April 2017, 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 Profit or Loss and Other Comprehensive Income for the three months ended 31 March 2017 and 2016, as well as the unaudited Consolidated Statement of Financial Position as at 31 March 2017 and audited Consolidated Statement of Financial Position as at 31 December 2016 are provided below:

PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) FOR THE THREE MONTHS PERIOD ENDED 31 MARCH 2017 AND 2016

(Expressed in Millions of Rupiah, Unless Otherwise Stated)

2017 2016

CONTINUING OPERATIONS
NET SALES	17,834,867	16,515,754
COST OF GOODS SOLD	12,464,326	11,901,597
GROSS PROFIT	5,370,541	4,614,157
Selling and distribution expenses	(1,919,200)	(1,859,309)
General and administrative expenses	(890,096)	(863,009)
Other operating income	170,862	136,567
Other operating expenses	(144,485)	(149,518)
INCOME FROM OPERATIONS	2,587,622	1,878,888
Finance income	193,600	373,532
Finance expenses	(324,127)	(408,135)
Final tax on interest income	(30,302)	(35,165)
Share in net loss of associates	(69,980)	(78,442)
INCOME BEFORE INCOME TAX EXPENSE	2,356,813	1,730,678
Income Tax Expense	(594,731)	(468,232)
INCOME FOR THE PERIOD FROM CONTINUING OPERATIONS	1,762,082	1,262,446
A DISCONTINUED OPERATION
INCOME FOR THE PERIOD FROM A DISCONTINUED OPERATION	-	100,784
INCOME FOR THE PERIOD	1,762,082	1,363,230
Other comprehensive income (losses) Items that will not be reclassified to profit or loss:
Re-measurement gains (losses) of employees' benefit liabilities	(3,116)	12,874
Share of other comprehensive losses of associates, net of tax Items that may be reclassified to profit or loss:	(1,809)	(3,080)
Unrealized gains (losses) on available-for-sale financial assets	226,171	(144,992)
Exchange differences on translation of financial statements	(45,906)	(106,449)
Share of other comprehensive income (losses) of associates, net of tax	(44,137)	8,965
Fair value gains arising from cash flow hedges	-	230,273
Other comprehensive income (losses) for the period, net of tax	131,203	(2,409)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	1,893,285	1,360,821
Income for the period attributable to: Equity holders of the parent entity	1,204,891	1,085,540
Non-controlling interests	557,191	277,690
Total	1,762,082	1,363,230
Total comprehensive income for the period attributable to: Equity holders of the parent entity	1,367,175	963,196
Non-controlling interests	526,110	397,625
Total	1,893,285	1,360,821
BASIC EARNINGS PER SHARE FROM CONTINUING OPERATIONS ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ENTITY (full amount)	137	114

BASIC EARNINGS PER SHARE FROM

A DISCONTINUED OPERATION ATTRIBUTABLE TO

EQUITY HOLDERS OF THE PARENT ENTITY (full amount) - 10

PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2017 (UNAUDITED) AND 31 DECEMBER 2016 (AUDITED)

(Expressed in Millions of Rupiah, Unless Otherwise Stated)

31 March 2017	31 December 2016
ASSETS
CURRENT ASSETS Cash and cash equivalents	13,302,450	13,362,236
Short-term investments Accounts receivable Trade	682,603	534,138
Third parties - net	4,392,111	3,729,640
Related parties Non-trade Third parties	885,326 236,291	887,206 216,638
Related parties	361,120	371,033
Inventories - net	9,045,356	8,469,821
Advances and deposits	843,801	699,403
Prepaid taxes	380,190	320,384
Future crop expenditures	233,395	180,900
Prepaid expenses and other current assets	340,913	214,044
Total Current Assets	30,703,556	28,985,443
NON-CURRENT ASSETS Claims for tax refund	166,272	271,485
Plasma receivables - net	1,066,211	1,064,600
Deferred tax assets - net	2,131,912	2,044,321
Long-term investments Plantations Mature plantations - net	5,634,901 6,341,787	3,276,017 6,014,014
Immature plantations	2,858,020	3,095,395
Industrial timber plantations - net	284,181	284,162
Fixed assets - net	25,697,839	25,701,913
Investment property	42,188	42,188
Deferred charges - net	666,674	627,998
Goodwill	3,976,524	3,976,524
Intangible assets - net	2,296,688	2,329,997
Long-term prepayments	1,033,510	981,204
Other non-current assets	1,797,229	3,479,254
Total Non-current Assets	53,993,936	53,189,072
TOTAL ASSETS	84,697,492	82,174,515

PT INDOFOOD SUKSES MAKMUR TBK AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2017 (UNAUDITED) AND 31 DECEMBER 2016 (AUDITED)

(Expressed in Millions of Rupiah, Unless Otherwise Stated)

31 March 2017	31 December 2016
LIABILITIES AND EQUITY
LIABILITIES CURRENT LIABILITIES Short-term bank loans and overdraft	7,341,833	5,697,745
Trust receipts payable Trade payables Third parties	424,760 2,683,650	1,218,864 2,964,533
Related parties	657,997	573,340
Other payables and deposit received - Third parties	899,514	1,222,334
Accrued expenses	2,112,971	2,260,066
Short-term employee benefits liability	1,280,721	824,778
Taxes payable Current maturities of long-term debts Bank loans	1,246,756 1,200,110	840,162 1,608,077
Bonds payable	1,999,666	1,999,082
Liability for purchases of fixed assets	10,370	10,460
Total Current Liabilities	19,858,348	19,219,441
NON-CURRENT LIABILITIES Long-term debts - net of current maturities Bank loans	9,697,803	9,889,092
Bonds payable	1,994,710	1,994,160
Liability for purchases of fixed assets	4,564	4,603
Total long-term debts	11,697,077	11,887,855
Deferred tax liabilities - net	977,595	1,050,282
Due to related parties Advance for stock subscription from non-controlling interest	548,099 142,100	542,099 83,300
Liabilities for employee benefits	5,508,167	5,360,277
Estimated liabilities for assets dismantling costs	91,157	89,838
Total Non-current Liabilities	18,964,195	19,013,651
TOTAL LIABILITIES	38,822,543	38,233,092