General Announcement::INCORPORATION OF NEW WHOLLY OWNED SUBSIDIARIES IN INDONESIA

Issuer & Securities

Issuer/ Manager
KENCANA AGRI LIMITED
Securities
KENCANA AGRI LIMITED - SG1X16940808 - F9M

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
29-May-2014 18:22:06
Status
New
Announcement Sub Title
INCORPORATION OF NEW WHOLLY OWNED SUBSIDIARIES IN INDONESIA
Announcement Reference
SG140529OTHRVCKG
Submitted By (Co./ Ind. Name)
PHILLIP LIM
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Kencana Agri Limited (the "Company") is pleased to announce the incorporation of two wholly owned subsidiaries, PT Energy Karya Persada ("EKP") and PT Energy Cipta Utama ("ECU") in Indonesia through its subsidiaries PT Listrindo Kencana ("LK") and PT Belitung Energy ("BE").

The total issued and paid-up share capital of each of EKP and ECU is IDR100,000,000. LK holds 99% of EKP and 1% of ECU whereas BE holds 99% of ECU and 1% of the EKP. The purpose of setting up EKP and ECU is to expand our power generation business in Indonesia.

The incorporation of EKP and ECU is funded through internal resources and is not expected to have any significant effect on the consolidated net tangible assets and earnings per share of the Company and the Group for the current financial year ending 31 December 2014.

None of the directors, controlling shareholders or substantial shareholders of the company have any interest, direct or indirect, in the above transactions other than through their shareholdings in the Company.


By Order of the Board

Ratna Maknawi
Deputy Chief Executive Officer