SGX Filings

    Establishment Of Joint Venture Company In Indonesia

    SGX Filings

    Olam International Limited (“Olam” or the “Company”) wishes to announce that the Company has established a joint venture company in Indonesia known as PT. Agronesia Bumi Persada (the “JV Company”), jointly with PT. Prinavin Lestari Pratama (the “JV Partner”), to be engaged in expanding further opportunities of sourcing and distribution of agricultural commodities from/into Indonesia which is an emerging global market for the products in Olam’s portfolio.

    The JV Partner is a private local trading and investment company with over a decade of experience in Indonesia.

    The JV Company has an initial paid up capital of US$100,000. Olam holds 51% equity interest in the JV Company and will have management control of the JV Company.

    The above investment was funded through internal resources and is not expected to have any significant impact on the financial position of the Company for the current financial year.

    None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.

     

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