., Ltd. - Rich forest Co., Ltd. 3. The general characteristics of the transaction: The Company and its subsidiaries made transactions in regular business practice and supported regular business practice of
Company’s working capital is indirectly subsidized via trade creditor in form of loan and via business partners in form of raw material supported for production (under Collateral Management Agreement – CMA
still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline
a historic high rate of 123.5 KBD during this past September. Meanwhile, Operating GRM declined by 1.69 $/BBL from the previous year, which was affected by the crack spread of finished product and
price of crude and finished product to make its downward trend. With demand for fuel consumption declining across the globe, combined with the Organization of Petroleum Exporting Countries [ OPEC] and
purpose of carrying on the business as manufacturer and supplier of various finished and semi-finished automotive stamping components in Indonesia. The New Company further received the acknowledgment dated
business; due to finished product price increase that coincide with the rise of global crude oil price, and total sales volume increased by 5%. Also, the company received higher revenue from the power plant
of the virus has caused demand for consumption of fuel around the world to decline with significance. This factor is putting pressure on the price of crude and finished product to drop significantly