Finance Lease and Consumer Financing Payables

17 16 mount 204,669 7,976 2,380 215,025 17 The details of estimated employees’ benefit liabilities are as follows: in USD Description 30 June 2014 Present value of obligation 793,108 Unrecognized actuarial losses – net 156,378 Unrecognized past service cost 8,192 Foreign exchange gain 3,178 Total 631,716 4. Commitments and Contingencies As of 30 June 2014, the Company’s Subsidiary has the following commitments: a. MOS On 7 June 2013, MOS entered into a shipbuilding agreement with PT Pertamina Persero Pertamina. MOS agrees to design, build, launch, equip, test, complete and deliver 1 one 17,500 LTDW refined oil tanker. Based on the agreement, the ship shall be delivered to MOS shipyard within 24 twenty four months commencing on the effective date of the agreement. On 7 May 2014, MOS entered into a shipbuilding agreement with PT Pertamina Persero Pertamina. MOS agrees to design, build, launch, equip, test and deliver a one 17,500 LTDW crude oil tanker. Based on the agreement, the ship shall be delivered to MOS shipyard within 24 twenty four months commencing on the effective date of this agreement. There has been no progress on the construction work up to the reporting date. On 7 May 2014, MOS entered into a shipbuilding agreement with PT Pertamina Persero Pertamina. MOS agrees to design, build, launch, equip, test and deliver a one 17,500 LTDW have tanker. Based on the agreement, the ship shall be delivered to MOS shipyard within 24 twenty four months commencing on the effective date of this agreement. There has been no progress on the construction work up to the reporting date. THROUGH THE SYSTEMATIC MANAGEMENT OF ASSETS AND LIABILITIES AND THE EXPECTED INCREASE OF FUTURE OPERATING RESULTS, THE COMPANY REPRESENTED ITS ABILITY TO DULY MEET ALL ITS LIABILITIES IN ACCORDANCE WITH THE PREVAILING TERMS AND CONDITIONS. AS OF THE DATE OF ISSUANCE OF THIS PROSPECTUS, THERE ARE NO NEGATIVE COVENANTS IMPOSED WHICH MAY ADVERSELY AFFECT THE RIGHTS OF THE PUBLIC SHAREHOLDERS. ALL LIABILITIES OF THE COMPANY AND ITS SUBSIDIARIES AS OF 30 JUNE 2014 HAS BEEN FULLY DISCLOSED IN THIS PROSPECTUS. AS OF 30 JUNE 2014 UP TO THE DATE OF THE INDEPENDENT AUDITOR‟S REPORT, AND SUBSEQUENT TO THE DATE OF SUCH INDEPENDENT AUDITOR‟S REPORT UP TO THE DATE OF EFFECTIVENESS OF THE REGISTRATION STATEMENT, THERE ARE NO LIABILITIES THAT HAVE FALLEN DUE THAT HAVE NOT BEEN SETTLED BY THE COMPANY. AS OF 30 JUNE 2014 UP TO THE DATE OF THE INDEPENDENT AUDITOR‟S REPORT, AND SUBSEQUENT TO THE DATE OF SUCH INDEPENDENT AUDITOR‟S REPORT UP TO THE DATE OF EFFECTIVENESS OF THE REGISTRATION STATMENT, THE COMPANY HAS NO OTHER LIABILITIES, COMMITMENTS AND CONTINGENCIES OTHER THAN LIABILITIES THAT ARISE FROM THE COMPANY‟S NORMAL COURSE OF BUSINESS AND THE LIABILITIES WHICH HAVE BEEN PREVIOUSLY PRESENTED IN THIS PROSPECTUS AND DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS.