Golden Agri Resources : Disposal of Entire Shareholding in Subsidiary

Issuer/ Manager

GOLDEN AGRI­RESOURCES LTD

Securities

GOLDEN AGRI­RESOURCES LTD ­ MU0117U00026 ­ E5H

Stapled Security

No

Announcement Title

Asset Acquisitions and Disposals

Date & Time of Broadcast

10­Oct­2016 17:49:06

Status

New

Announcement Sub Title

Disposal of Entire Shareholding in Subsidiary

Announcement Reference

SG161010OTHRBMH5

Submitted By (Co./ Ind. Name)

Kimberley Lye Chor Mei

Designation

Director, Corporate Secretarial

Description (Please provide a detailed description of the event in the box below)

The Board of Directors of Golden Agri­Resources Ltd (the "Company" and together with its subsidiaries, the "Group") wishes to announce the disposal by the Group of its entire shareholding comprising 1,500 shares of nominal value of IDR1,000,000 each in PT Dian Ciptamas Agung ("DCA"), a company established in the Republic of Indonesia, for an aggregate cash consideration of IDR70,000,000 (equivalent to USD5,600).

The said consideration was arrived at on a willing buyer willing seller basis, with reference to the latest valuation of the shares of DCA as of 31 May 2016 using the market based approach.

Following the disposal, DCA ceased to be a subsidiary of the Company.

(Note: The amount in USD equivalent using exchange rate as at 7 October 2016 of IDR1 = USD0.00008)

By Order of the Board

GOLDEN AGRI­RESOURCES LTD

Rafael Buhay Concepcion, Jr. Director

10 October 2016