FIRST PACIFIC COMPANY LIMITED 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 NINE MONTHS ENDED 30 SEPTEMBER 2016This 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 2016.
SummaryThe board of directors of Indofood approved the release of the unaudited consolidated financial results for the nine months ended 30 September 2016, which have been submitted to the Indonesia Stock Exchange on 28 October 2016, 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 2016, which have been submitted to the Indonesia Stock Exchange on 28 October 2016, 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 nine months period ended 30 September 2016 and 2015, as well as the unaudited Consolidated Statement of Financial Position as at 30 September 2016 and audited Consolidated Statement of Financial Position as at 31 December 2015 are provided below:
PT INDOFOOD SUKSES MAKMUR TBK AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2016 AND 2015(Expressed in Millions of Rupiah, Unless Otherwise Stated)
CONTINUING OPERATIONSNET SALES | 2016 49,865,934 | 2015 47,564,001 |
COST OF GOODS SOLD | 35,304,012 | 34,696,893 |
GROSS PROFIT | 14,561,922 | 12,867,108 |
Selling and distribution expenses | (5,517,397) | (5,203,416) |
General and administrative expenses | (2,919,135) | (2,581,156) |
Other operating income | 308,800 | 595,624 |
Other operating expenses | (502,050) | (253,388) |
INCOME FROM OPERATIONS | 5,932,140 | 5,424,772 |
Finance income | 904,349 | 456,976 |
Finance expenses | (1,191,718) | (2,975,222) |
Share in net losses of associates | (186,979) | (283,754) |
INCOME BEFORE INCOME TAX EXPENSE | 5,457,792 | 2,622,772 |
Income Tax Expense | (1,627,608) | (937,370) |
INCOME FOR THE PERIOD FROM CONTINUING OPERATIONS | 3,830,184 | 1,685,402 |
A DISCONTINUED OPERATION | ||
INCOME FOR THE PERIOD FROM A DISCONTINUED OPERATION | 269,572 | 422,103 |
INCOME FOR THE PERIOD | 4,099,756 | 2,107,505 |
Other comprehensive income (losses) | ||
Items that will not be reclassified to profit or loss: | ||
Re-measurement losses of employees' benefit liabilities | (9,292) | (15,886) |
Share of other comprehensive losses of associates, net of tax Items that may be reclassified to profit or loss: | (2,485) | - |
Unrealized gains (losses) on available-for-sale financial assets | (83,229) | 439,460 |
Exchange differences on translation of financial statements | (355,445) | 424,320 |
Share of other comprehensive income of associates, net of tax | 113,528 | - |
Fair value losses arising from cash flow hedges | (51,332) | (14,310) |
Other comprehensive income (losses) for the period, net of tax | (388,255) | 833,584 |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 3,711,501 | 2,941,089 |
Income for the period attributable to: | ||
Equity holders of the parent entity | 3,240,078 | 1,683,590 |
Non-controlling interests | 859,678 | 423,915 |
Total | 4,099,756 | 2,107,505 |
Total comprehensive income for the period attributable to: | ||
Equity holders of the parent entity | 2,933,589 | 2,528,637 |
Non-controlling interests | 777,912 | 412,452 |
Total | 3,711,501 | 2,941,089 |
BASIC EARNINGS PER SHARE FROM CONTINUING | ||
OPERATIONS ATTRIBUTABLE TO EQUITY HOLDERS | ||
OF THE PARENT ENTITY (full amount) | 344 | 152 |
(Expressed in Millions of Rupiah, Unless Otherwise Stated)
30 September 2016 | 31 December 2015 | |
ASSETS | ||
CURRENT ASSETS | ||
Cash and cash equivalents | 11,477,859 | 13,076,076 |
Short-term investments | 1,157 | 1,090,607 |
Accounts receivable | ||
Trade Third parties - net | 5,434,569 | 3,522,553 |
Related parties | 873,656 | 733,261 |
Non-trade Third parties | 301,945 | 458,089 |
Related parties | 344,083 | 402,707 |
Inventories - net | 8,304,722 | 7,627,360 |
Advances and deposits | 1,457,595 | 809,685 |
Prepaid taxes | 328,252 | 302,105 |
Future crop expenditures | 159,080 | 165,308 |
Prepaid expenses and other current assets | 434,094 | 253,910 |
Assets of disposal group classified as held for sale | 12,570,955 | 14,375,084 |
Total Current Assets | 41,687,967 | 42,816,745 |
NON-CURRENT ASSETS | ||
Claims for tax refund | 273,788 | 261,934 |
Plasma receivables - net | 970,632 | 785,773 |
Deferred tax assets - net | 2,237,279 | 2,083,290 |
Long-term investments | 2,881,929 | 1,898,233 |
Plantations | ||
Mature plantations - net | 5,816,189 | 5,193,423 |
Immature plantations | 3,235,959 | 3,612,838 |
Industrial timber plantations - net | 283,641 | 281,726 |
Fixed assets - net | 25,538,487 | 25,096,342 |
Investment property | 42,188 | 42,188 |
Deferred charges - net | 641,954 | 676,166 |
Goodwill | 3,976,524 | 3,976,524 |
Intangible assets - net | 2,528,306 | 2,628,235 |
Long-term prepayments | 1,038,650 | 948,126 |
Other non-current assets | 1,276,334 | 1,529,983 |
Total Non-current Assets | 50,741,860 | 49,014,781 |
TOTAL ASSETS | 92,429,827 | 91,831,526 |
AS OF 30 SEPTEMBER 2016 (UNAUDITED) AND 31 DECEMBER 2015 (AUDITED) (Expressed in Millions of Rupiah, Unless Otherwise Stated) | ||
30 September | 31 December | |
2016 | 2015 | |
LIABILITIES AND EQUITY | ||
LIABILITIES | ||
CURRENT LIABILITIES | ||
Short-term bank loans and overdraft | 7,893,727 | 5,971,569 |
Trust receipts payable | 305,905 | 1,747,575 |
Trade payables | ||
Third parties | 2,737,283 | 3,080,946 |
Related parties | 574,957 | 503,958 |
Other payables and deposit received - Third parties | 1,786,963 | 1,589,265 |
Accrued expenses | 1,767,630 | 2,137,266 |
Short-term employee benefits liability | 679,060 | 684,417 |
Taxes payable | 719,950 | 352,910 |
Current maturities of long-term debts | ||
Bank loans | 2,235,043 | 2,949,803 |
Bonds payable | 1,998,556 | - |
Liability for purchases of fixed assets | 40,560 | 42,942 |
Liabilities directly associated with disposal group classified | ||
as held for sale | 4,345,646 | 6,046,887 |
Total Current Liabilities | 25,085,280 | 25,107,538 |
NON-CURRENT LIABILITIES | ||
Long-term debts - net of current maturities | ||
Bank loans | 13,213,825 | 12,889,330 |
Bonds payable | 1,993,711 | 3,989,156 |
Liability for purchases of fixed assets | 12,503 | 15,466 |
Total long-term debts | 15,220,039 | 16,893,952 |
Deferred tax liabilities - net | 1,413,461 | 1,518,833 |
Due to related parties | 508,264 | 338,848 |
Liabilities for employee benefits | 5,197,353 | 4,775,806 |
Estimated liabilities for assets dismantling costs | 99,645 | 74,956 |
Total Non-current Liabilities | 22,438,762 | 23,602,395 |
TOTAL LIABILITIES | 47,524,042 | 48,709,933 |
Capital stock - Rupiah 100 (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 | 841,367 | 924,426 |
Difference from changes in equity of Subsidiaries | ||
and effects of transactions with non-controlling interests | 6,688,264 | 6,645,415 |
Exchange differences on translation of financial statements Reserve of disposal group classified as held for sale Retained earnings | 793,830 392,558 | 844,545 627,333 |
Appropriated for general reserve | 100,000 | 95,000 |
Unappropriated | 18,482,178 | 16,732,340 |
Equity Attributable to Equity Holders of the | ||
Parent Entity | 28,698,489 | 27,269,351 |
Non-controlling Interests | 16,207,296 | 15,852,242 |
TOTAL EQUITY | 44,905,785 | 43,121,593 |
TOTAL LIABILITIES AND EQUITY | 92,429,827 | 91,831,526 |
First Pacific Company Limited published this content on 28 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 October 2016 00:11:04 UTC.
Original documenthttp://www.firstpacific.com/media/normal/15881_LTN20161028079.pdf
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