Asset Acquisitions and Disposals::Notification of Changes to Wilmar subsidiaries

Issuer & Securities

Issuer/ Manager

WILMAR INTERNATIONAL LIMITED

Securities

WILMAR INTERNATIONAL LIMITED - SG1T56930848 - F34

Stapled Security

No

Announcement Details

Announcement Title

Asset Acquisitions and Disposals

Date & Time of Broadcast

27-Aug-2018 17:14:14

Status

New

Announcement Sub Title

Notification of Changes to Wilmar subsidiaries

Announcement Reference

SG180827OTHRS60S

Submitted By (Co./ Ind. Name)

Teo La-Mei

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

Please see attached announcement.

Attachments

Notification of Changes to WIL Subs dd 27 Aug 2018.pdf

Total size =132K

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WILMAR INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 199904785Z)

ANNOUNCEMENT

Wilmar International Limited (the "Company" or "Wilmar") wishes to announce the following:

Establishment of subsidiaries

  • 1. Adina Shipping Co Pte. Ltd., Marino Shipping Co Pte. Ltd. and Rafferty Shipping Co Pte. Ltd. (Singapore Subsidiaries)

    Wilmar Ship Holdings Pte. Ltd., a direct wholly-owned subsidiary of Wilmar, has established the following direct wholly-owned subsidiaries:

    • a) Adina Shipping Co Pte. Ltd.;

    • b) Marino Shipping Co Pte. Ltd.; and

    • c) Rafferty Shipping Co Pte. Ltd.

    Each of the abovementioned wholly-owned Wilmar subsidiaries has an issued and paid-up share capital of US$1. The principal activities of the said Wilmar subsidiaries are the owning and chartering of vessels.

  • 2. Feng Ying (Shanghai) Property Management Services Co., Ltd (China Subsidiary)

    Feng Ying (Shanghai) Property Management Services Co., Ltd ("Feng Ying Shanghai") is a direct wholly-owned subsidiary of Yihai Kerry Investments Co., Ltd ("YKI"), which is an indirect wholly-owned subsidiary of Wilmar. Feng Ying Shanghai has a registered capital of US$500,000. Feng Ying Shanghai will engage in the provision of property management services.

  • 3. Yihai Kerry (Jining) Oils, Grains & Foodstuffs Co., Ltd (China Subsidiary)

    Yihai Kerry (Jining) Oils, Grains & Foodstuffs Co., Ltd ("Yihai Kerry Jining") is a direct wholly-owned subsidiary of YKI. Yihai Kerry Jining has a registered capital of RMB100,000,000. Yihai Kerry Jining will engage in the refining of edible oils.

  • 4. WI Kitchen (Langfang) Food Co., Ltd (China Subsidiary)

    WI Kitchen (Langfang) Food Co., Ltd ("WI Kitchen Langfang") is a direct wholly-owned subsidiary of WI Kitchen (Tianjin) Investment Co., Ltd ("WI Kitchen Tianjin"), which is in turn, an indirect wholly-owned subsidiary of YKI. WI Kitchen Langfang has a registered capital of RMB250,000,000. WI Kitchen Langfang will engage in food processing.

Change in shareholding in subsidiaries

5.

Wilmar Tea Pte. Ltd. (Singapore Subsidiary)

Wilmar Tea Pte. Ltd. ("Wilmar Tea") is a direct wholly-owned subsidiary of Wilmar. Following the allotment and issue of 254,000 ordinary shares to Wilmar and 245,000 ordinary shares to Yufen Investments Co. Limited (a company controlled by the immediate family member of a Director of Wilmar), the equity interest of Wilmar in Wilmar Tea was diluted from 100% to 51%.

Wilmar International Limited

Announcement - Notification of changes to subsidiaries (continued)

  • 6. Global Oils, Limitada (Mozambique Subsidiary)

    Irving Investments Ltd ("Irving"), an indirect 57.03% subsidiary of Wilmar, has acquired 99% of the equity interest in Global Oils, Limitada ("GOL") from Maputo Liquids Storage Company ("MLSC"), an indirect 81.69% subsidiary of Wilmar, for a total consideration of Mozambique Meticals (MZN) 99,000 (approximately equivalent to US$1,677). The purchase consideration was arrived at on a willing-seller, willing-buyer basis. Following this acquisition, Wilmar's indirect interest in GOL has decreased from 80.06% to 56.46%. The principal activities of GOL are the provision of services, production, import, export, transformation, storage, packing, distribution and commercialization of agricultural products.

  • 7. Yihai Kerry (Shanghai) Chocolate Co., Ltd. (China Subsidiary)

    YKI has disposed of its entire 100% interest in the registered capital of Yihai Kerry (Shanghai) Chocolate Co. Ltd. to Aalst Wilmar Pte. Ltd., a 50% joint venture company indirectly held by Wilmar, for a total consideration of RMB3,715,804. Accordingly, Yihai Kerry (Shanghai) Chocolate Co. Ltd. has ceased to be a subsidiary of Wilmar and is now an indirectly held 50% joint venture company of Wilmar. The principal activities of the said company, namely the production, processing and sale of chocolate and chocolate products, remain unchanged.

  • 8. Yihai Kerry (Kunming) Foodstuffs Industries Co., Ltd (China Subsidiary)

    Yihai Kerry (Kunming) Foodstuffs Industries Co., Ltd ("YK Kunming") is a direct 70% owned subsidiary of YKI. YKI has acquired an additional 7.5% interest in the registered capital of YK Kunming from Kunming National Grain Storage Co., Ltd, a company not related to Wilmar, for a total consideration of RMB7,800,000 through public tender. The remaining 22.5% interest in YK Kunming is held by Yunnan Oils & Grains Industries Co., Ltd (15%) and Yunnan Jingu Foodstuffs Marketing Co., Ltd (7.5%). The principal activity of YK Kunming, namely, flour milling, remains unchanged.

Change in name of China subsidiaries

9.

The following two Wilmar subsidiaries have changed their names as follows:

New name

Former name

Principal activities

1

Qinhuangdao Golden Delicious Food Industries Co., Ltd (a direct wholly-owned subsidiary of YKI)

Three-A (Qinhuangdao) Food Industries Co., Ltd

Processing of hydrolysed vegetable protein

2

Yihai Kerry (Guangzhou) Logistics & Supply Chain Co., Ltd (an indirect 95% owned subsidiary of YKI)

Yihai (Guangzhou) Wharf Co., Ltd

Management of port and provision of transport and logistic services

Issued by

WILMAR INTERNATIONAL LIMITED 27 August 2018 2/2

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Wilmar International Limited published this content on 27 August 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 August 2018 09:46:03 UTC