News

Investment In PT. ABC Future Indonesia

The Board of Directors of Food Empire Holdings Limited ("the Company") wishes to announce that Future Enterprises Pte Ltd, a wholly-owned subsidiary of the Company, has subscribed for 98 shares at par of Rupiah 9,340,000 (equivalent to US$1,000) each in PT. ABC Future Indonesia for a cash consideration of Rupiah 915,320,000 (equivalent to US$98,000). The investment will be funded through internal resources.

After the investment, Future Enterprises Pte Ltd holds 49% of the shareholding in PT. ABC Future Indonesia. The remaining 51% of the shareholding is held by Jakarta-based PT. Anugerahtama Bina Citra ("ABC"), which is a well-established company engaged in manufacturing and distribution of food and consumer goods.

PT. ABC Future Indonesia will be involved in the marketing and distribution of instant beverages in Indonesia under the brand name of Real Express.

The Company does not expect any material impact arising from this business venture on its earnings per share and net asset value per share for the current financial year.

None of the Directors or Controlling Shareholders of the Company has any interest, direct or indirect, in this investment.

This is a non-discloseable transaction under Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual.


By Order of the Board

Tan San-Ju
Company Secretary