PT. ABCDAnalisa Financial StatemenFor period end : 31 Januari 2017

1 Working Capital (Modal Kerja) JanuariCurrent Assets 33,242,950,000

Current liabilities 88,449,100,000 (55,206,150,000)

2 Current ratio 2:1Current Assets 33,242,950,000

Current liabilities 88,449,100,000 0.38

3 Debt to Equity Ratio Total liabilities 153,449,100,000

Total shareholders equity 188,177,080,000 0.82

4 Operating Margin Net sales 18,555,680,000

Operating income 9,032,710,000 2.05

PT. ABCDBALANCE SHEET (UNAUDITED)

For period end : 31 Januari 2017

A S S E T LIBILITIES & STOCKHOLDERS' EQUITY

ASSET LIABILITIES

CURRENT ASSET : CURRENT LIABILITIES :

Cash & Cash Equivalent 1.2 4,011,250,000 Short -Term Loans 60,000,000,000

Time Deposit Trade Account Payable

Trade Accounts Receivable - - Third Parties 9 7,011,300,000

- Third Parties - Related Parties

- Related Parties 3 18,795,680,000 Contractor Payable 821,410,000

- Trade Receiv Plasma 371,260,000 Accrued Expenses ### 19,745,780,000

Inventories 4 5,308,140,000 Taxes Payable ### 827,290,000

Prepaid Expenses 5 771,800,000 Other Payables ### 43,320,000

Prepaid Taxes 6 3,984,820,000 Current Maturities of Long Term Debt ### -

Total Current Asset 33,242,950,000

Total Current Liabilities 88,449,100,000 NON CURRENT ASSET : Investment NON CURRENT LIABILITIES :

Due From Related Parties 7 41,667,560,000 ###

Due To Shareholders - RC ###

Total Non Current Asset 41,667,560,000 Long Term Debt - Net of Current Maturities ### -

Long Term Liabilities ### 65,000,000,000 Total Non Current Liabilities 65,000,000,000

FIXED ASSET : 8 At Cost 293,146,000,000 Accumulated Depreciation (36,194,600,000)

Net Book Value 256,951,400,000 Total Liabilities 153,449,100,000

OTHER ASSETS : STOCKHOLDER'S EQUITIES :

Nursery Capital Stock 150,000,000,000

Tax Refund - Retained Earnings (Beginning) 31,865,200,000

Defferred Tax Asset 333,210,000 Net Income (loss) 6,311,880,000

Loan to Employees 261,250,000

Prepayment for Vehicles 219,380,000

Receivable Claim Insurance. - Plasma Loan Receivable 8,950,430,000 Total Other Asset 9,764,270,000 Total Stockholder's Equities 188,177,080,000

JUMLAH AKTIVA 341,626,180,000 JUMLAH PASIVA 341,626,180,000

Due To Related Parties

PT. ABCDEXPLANATION OF BALANCE SHEET

For period end : 31 Januari 2017

CURRENT ASSET

1 CashKebun 30,000,000 Total 30,000,000

2 BankBank Mandiri ( Rp ) Kebun 1,246,770,000 Bank Mandiri ( Rp ) Jakarta 2,734,480,000 Total 3,981,250,000

3 Account Receivable AffiliatedPT. Q 18,795,680,000Total 18,795,680,000

3a Trade Receiv Plasma 371,260,000

4 Inventories - Spareparts 845,820,000 - Chemicals & packing Supplies 177,800,000 - Fertilizer 2,671,300,000 - Plantation Chemicals 1,081,820,000 - Other Plantation Supplies 531,400,000 Total 5,308,140,000

5 Prepaid Expense- Advance Payment 431,810,000 - Advance Project 339,990,000 - Prepaid Asuransi 0 - Prepd Fire Insurance 0 Total 771,800,000

6 - Prepaid Tax 3,984,820,000 Total 3,984,820,000

7 Due From Related PartiesPT. A 11,229,410,000 PT. C 72,270,000 PT. K 20,688,520,000 PT. L 77,360,000 PT. M 9,600,000,000 Total 41,667,560,000

8 Fixed Asset

At cost

MATURE PLANTED 177,238,600,000 IMMATURE PLANTED - Land Clearing 2,280,300,000 MACHINERY & EQUIPMENT 6,714,000,000 BUILDINGS 39,581,800,000 Construction In Progress Building 24,048,400,000 OFFICE FURNITURE & FIXTURES 2,739,200,000 Infrasturktur Umum 9,390,400,000

Infrasturktur Umum in progress 9,519,900,000 VEHICLES & HEAVY EQUIPMENT 16,231,200,000 VEHICLES & HEAVY EQUIPMENT (leasing) - LAND ACQUISITION 3,760,600,000 LAND ACQUISITION in progress 504,000,000 Hak Guna Usaha (HGU) 696,700,000 By. Software SAP 440,900,000Total 293,146,000,000

9 Trade Account PayableThird Parties 3,940,660,000 Related Parties 2,542,270,000 PT.B 528,370,000 Total 7,011,300,000

10 Accrued ExpensesProvision of post employment benefits 2,025,940,000 JAMSOSTEK 67,550,000 Accrued interest 5,047,260,000 Accd Inc. Tax Art 29 12,605,030,000 Total 19,745,780,000

11 Tax PayableVAT Output Pybl 175,000,000 Income Taxes article 21 224,620,000 Income Taxes article 23 690,000 Income Taxes article 25 - Inc Tax Pybl 26 0 Inc Tax Pybl Lease 69,810,000 Deffered Tax Payable 135,570,000 Land&Prop Tax Pay 221,600,000 Total 827,290,000

12 OTHER PAYABLESHutang Dagang Lain-lain 6,860,000 Hutang Lain Lain ( Jumal Manual ) 36,460,000

43,320,000

13 Current Maturities of Long Term Debt- Bank Mandiri- Hutang sewa guna UsahaTotal -

14 Due To Related PartiesPT.U - PT.S -

Total -

15 Due To Shareholders

PT. ABCDINCOME STATEMENT

For period end : 31 Januari 2017

Net Sales 18,555,680,000

Cost Of Good Sold (9,004,370,000)

Gross Profit 9,551,310,000

Operating Expenses (28,340,000)Selling Expenses -

Operating Profit (Loss) 9,522,970,000

Other Income (Charges)Interest Income (Expense) - Net 3,200,000 Interest expense and other financing charges (1,054,890,000)Gain (loss) on foreign exchange - net (300,000)Other -

Other Income (Charges) (1,051,990,000)

Pre Tax Profit (Loss) 8,470,980,000

Deffered Tax 2,159,100,000

Net Income (Loss) 6,311,880,000

PT. ABCDEXPLANATION OF INCOME STATEMENT

For period end : 31 Januari 2017

1 Sales- FFB Affiliasi 18,255,680,000 - FFB Third Parties - - Others (Toll In) 300,000,000 - CPO - - PK - Total 18,555,680,000

2 Cost Of Good SoldHarvesting 1,296,150,000 Manuring 3,036,690,000 Transport 643,290,000

Up Keep - Boiler 20,780,000

Loading & Shipping 170,690,000 Total 5,167,600,000

Raw Materials Pembelian TBS pihak sendiri (R/L) - Pembelian TBS pihak affiliasi (R/L) -

Pembelian TBS pihak ketiga (R/L) 384,320,000 Total 384,320,000

Estate Overhead** Biaya Staff dan Non Staff 935,640,000 ** Biaya Umum Kantor 313,810,000 ** Biaya Jasa Pihak ke-3 dan Pajak 304,400,000 ** Biaya Perjalanan, Jamuan & Pemeliharaan 523,380,000 ** Biaya Pengembangan SDM 79,610,000 ** Biaya Management HO - ** Biaya Penyusutan & Amortisasi 1,295,610,000

** Alokasi to TBM - 3,452,450,000

Stock Adjustment -

Total COGS 9,004,370,000

3 Operating ExpensesGeneral & Administrative** Biaya Staff dan Non Staff (106,220,000)** Biaya Umum Kantor 47,600,000 ** Biaya Jasa Pihak ke-3 dan Pajak 23,960,000 ** Biaya Perjalanan, Jamuan & Pemeliharaan 53,810,000 ** Biaya Pengembangan SDM - ** Biaya Management HO -

** Biaya Penyusutan & Amortisasi 9,190,000 28,340,000

4 Selling Expenses- CPO Transport - - PK Transport -

- Others - -

5 Interest Income / Expenses- Current Accounts (3,200,000)- Deposits -

- Interest Expense 1,054,890,000 1,051,690,000

6 Other Income/Expenses- Forex Exchange 300,000