153
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)
(b)
Transactions with PT Fajar Mataram Sedayu
(continued)
(ii)
Purchase of goods from PT Fajar Mataram Sedayu
The Company’s subsidiary, PT Nirwana Lestari, has been undertaking the purchase of products
from PT Fajar Mataram Sedayu, for distribution in Bali, Indonesia. PT Nirwana Lestari intends
to continue purchasing such products from PT Fajar Mataram Sedayu. The quantum of the
Company’s purchases from PT Fajar Mataram Sedayu for the period 1 January 2015 to the Latest
Practicable Date are set out below:-
For the period from 1 January 2015
up to the Latest Practicable Date
Value of purchases from PT Fajar Mataram Sedayu
(US$’000)
598
(c)
Transactions with PT Freyabadi Indotama
By virtue of their aggregate interest in 100.0% of the shareholding in Berlian Enterprises Limited, the
Executive Directors, Mr John Chuang, Mr Joseph Chuang and Mr William Chuang are deemed to be
interested in 49.0% of the issued share capital of PT Freyabadi Indotama held in aggregate by McKeeson
Investments Pte Ltd and PT Sederhana Djaja. Accordingly, transactions between the Group and PT
Freyabadi Indotama are deemed to be interested person transactions.
PT Freyabadi Indotama is a joint venture entity, in which Fuji Oil Ltd, an unrelated third party, McKeeson
Investments Pte Ltd and PT Sederhana Djaja own 51.0%, 30.0% and 19.0% of its issued share capital
respectively. PT Freyabadi Indotama is principally engaged in the manufacture and sale of industrial
chocolate.
(i)
Sale of materials by the Group to PT Freyabadi Indotama
The Company’s subsidiaries, PT Perusahaan Industri Ceres and PT General Food Industries
have
been undertaking the sale of products such as cocoa powder, cocoa butter, chocolate rice,
cocoa liquor and other products to PT Freyabadi Indotama. The value of the Company’s sales to
PT Freyabadi Indotama for the period from 1 January 2015 up to the Latest Practicable Date are
set out below:-
For the period from 1 January 2015
up to the Latest Practicable Date
Revenue received from PT Freyabadi Indotama (US$’000)
162
These transactions were entered into on a willing buyer and willing seller basis. The provision of
products such as cocoa powder, cocoa butter, chocolate rice, cocoa liquor and other products
to PT Freyabadi Indotama is a recurrent interested person transaction. The Company intends to
continue providing the Company’s products to PT Freyabadi Indotama.
