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PETRA FOODS LIMITED
ANNUAL REPORT 2015
AP P END I X ( S HAR EHOLDE R S ’ MANDAT E )
2.
THE RENEWAL OF THE SHAREHOLDERS’ MANDATE FOR INTERESTED PERSON TRANSACTIONS
(continued)
2.2
Scope of Interested Person Transactions
(continued)
(a)
Transactions with PT Tri Keeson Utama
(continued)
PT Tri Keeson Utama is principally engaged in the business of mixing and blending cocoa cakes and
cocoa powder. The Company and/or its subsidiary, PT General Food Industries, has been selling cocoa
products such as cocoa powder and cocoa cakes to PT Tri Keeson Utama. The value of the Company’s
sales to PT Tri Keeson Utama for the period from 1 January 2015 up to the Latest Practicable Date are
as set out below:-
For the period from 1 January 2015
up to the Latest Practicable Date
Value of sales to PT Tri Keeson Utama (US$’000)
Nil
These transactions were entered into on a willing buyer and willing seller basis. The provision of cocoa
products to PT Tri Keeson Utama is a recurrent interested person transaction.
Following the completion of the divestment of Cocoa Ingredients Division on 30 June 2013, sales of
cocoa ingredients or products to PT Tri Keeson Utama has ceased. However, the Company may continue
to provide some products to PT Tri Keeson Utama.
(b)
Transactions with PT Fajar Mataram Sedayu
By virtue of their indirect interest in 99.9% of the shareholding in PT Sederhana Djaja, the Executive
Directors, Mr John Chuang, Mr Joseph Chuang and Mr William Chuang are deemed to be interested
in 51.0% of the issued share capital of PT Fajar Mataram Sedayu. The Company’s Executive Officer, Mr
Poritjo Susanto Widjaja, has an interest of 5.0% in PT Fajar Mataram Sedayu. The remaining shareholding
interest in PT Fajar Mataram Sedayu is held by unrelated third parties. Accordingly, transactions between
the Group and PT Fajar Mataram Sedayu are deemed to be interested person transactions.
PT Fajar Mataram Sedayu is principally engaged in the manufacture and sale of compound chocolate
rice primarily for industrial use, as well as the manufacture and sale of consumer chocolate targeted at
the lower segment of the Indonesian consumer chocolate market.
(i)
Sale of materials by the Group to PT Fajar Mataram Sedayu
The Company’s subsidiaries, PT Perusahaan Industri Ceres and PT General Food Industries, have
been undertaking the sale of products such as cocoa liquor, cocoa butter and vegetable fats to
PT Fajar Mataram Sedayu. The value of the Company’s sales to PT Fajar Mataram Sedayu for the
period from 1 January 2015 up to the Latest Practicable Date are as set out below:-
For the period from 1 January 2015
up to the Latest Practicable Date
Value of sales to PT Fajar Mataram Sedayu (US$’000)
Nil
These transactions were entered into on a willing buyer and willing seller basis. The provision of
products such as cocoa liquor, cocoa butter and vegetable fats to PT Fajar Mataram Sedayu is a
recurrent interested person transaction.
Following the completion of the divestment of Cocoa Ingredients Division on 30 June 2013, sales
of cocoa ingredients or products to PT Fajar Mataram Sedayu has ceased.
