Golden Agri-Resources Ltd - How will its new business units contribute?

21/1/2014 – Golden Agri-Resources has been active on the corporate front in recent weeks, buying out a minority shareholder in one company and incorporating others.

GP Pakistan (Mauritius) Limited, PT Binai Kreasi Teknologi and Straits Investments Ltd, were the latest additions, announced January 10.

GP Pakistan is an investment holding company with paid up share capital of US$100.

PT Binai Kreasi Teknologi is incorporated in Indonesia with an initial issued and paid up share capital of IDR1 bln.

Its principal activities will be investment holding, trading and the provision of services in technology products.

An Golden Agri has bought Itochu Corporation's 15.69% stake in another Mauritius-incorporated company, Straits Investments Ltd, for US$7 mln, making it a wholly-owned subsidiary.

Before this purchase, page 123 of Golden Agri's 2012 annual report indicates that its stake in the Mauritian company was 84.31% in 2012.

This announcement follows a disclosure on December 2, of a new wholly-owned subsidiary, Golden Assets International Investment Pte Ltd.

Golden Assets is incorporated in Singapore and will have its principal activities in treasury management and business and management consultancy services.

Initial issued and paid up share capital is US$1.

Investor Central. Asian insights for global investors. We ask the tough questions of Asian companies which global investors need answers to.

Question

1. What assets will these new investment holding companies manage?

Golden Agri is well-known for its palm oil, but is that where these new companies will also be invested?

Question

2. What business does GP Pakistan hope to capture?

Question

3. What will GP Pakistan (Mauritius) do that another recently-incorporated subsidiary there can't?

(Total number of questions in the full story: 9)

We have sent these questions to Golden Agri-Resources Ltd to invite them for an on-camera interview, and/or seek their written response.

So far, we have not had a reply (which is why you are seeing this message).

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