Golden Agri Resources : Subscription in technology investment fund

Issuer/ Manager

GOLDEN AGRI-RESOURCES LTD

Securities

GOLDEN AGRI-RESOURCES LTD - MU0117U00026 - E5H

Stapled Security

No

Announcement Title

General Announcement

Date & Time of Broadcast

21-Dec-2016 17:46:24

Status

New

Announcement Sub Title

SUBSCRIPTION IN TECHNOLOGY INVESTMENT FUND

Announcement Reference

SG161221OTHRHL24

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 Agri-Resources Ltd ("GAR" or the "Company" and together with its subsidiaries, the "Group") wishes to announce that GAR, through its wholly owned subsidiary, Belino Investments Limited, has subscribed for a limited partnership interest in a technology investment fund, RMDV Fund I, L.P. (the "Fund"), an exempted limited partnership newly registered in the Cayman Islands. GAR's contribution and commitment towards the Fund will be up to an aggregate of USD125 million by the injection of non-cash assets ("Non- Cash Contribution") and cash ("Cash Contribution") into the Fund.

The Non-Cash Contribution will comprise of the Group's existing technology assets that are mainly held through Achieve Market Holdings Limited ("AMHL"), which wholly owns Sinarmas Digital Ventures (SG) Pte. Ltd. ("SMDV SG") and Sinarmas Digital Ventures (HK) Limited ("SMDV HK"). The total investment value of the Non-Cash Contribution is USD104.8 million. The Cash Contribution of USD20.2 million will be drawn down progressively over a period of 5 years.

GAR's subscription into the Fund is to support the Company's business strategy in achieving its vision by sourcing innovative technologies related to its core businesses.

The Fund's investment objectives will focus on developing transformational solutions in the areas of agriculture, food and industrial biotechnology, plantation development and management technologies (including those relating to precision agriculture and robotics), end-to-end distribution, logistics and marketing technology (including mobile-based solutions, e-commerce payments), and big data analytics.

Presently, GAR is the sole limited partner of the Fund. Apart from GAR, the Fund is expected to receive funding from other investors.

Following the consolidation and equity transfer of AMHL and subsidiaries, AMHL, SMDV SG, SMDV HK and PT Sinar Mas Digital Ventures, a subsidiary of SMDV SG, cease as subsidiaries of the