Dafam Property Indonesia DFAM

 

 

PT Dafam Property Indonesia Tbk (DPI) is a proud Indonesian residential and commercial property specialist that has a reputation for warmth and excellence.

We have been delivering high quality commercial and residential property developments as well as hotels and resorts throughout Indonesia since 2011.

We are visionaries as we always look for ways to differentiate ourselves. In our push to be different, we offer our clients, customers and communities a one-stop property solution – from securing loan for property financing to connecting you with our trusted vendors, or even managing your property once it is fully operated.

Vision

To become a proud Indonesian property specialist that inspires better life and enables limitless opportunities.

Mission

  • Develop high quality residential and commercial property that supports the modern lifestyle

  • Build a long-term strategic relationship with our partners and key stakeholders in order to achieve a solid group’s financial and maximum company value through safe, balanced and profitable investment portfolios

  • Become a dynamic company that continuously improves the quality of our people, system and management

  • Embrace today’s fast-changing business by endlessly innovating and adding practical values to our developments and services

Corporate Value

These values tell our clients, customers and communities what they can anticipate when partnering with DPI. We have straightforward values towards partnership as we value relationship that is built upon the spirit of collaboration, trust and goodwill.

Deliver prayers of thanks to God

Attentive to the interests of communities and environments

Formulation of good corporate governance (transparency, accountability, responsibility and fairness)

Absolute dedication and truthfulness in delivering professional outcomes

Make positive contributions towards family members, communities and Indonesia   

The Touch

By touch, everything is connected and it is the most traditional form of communication and connection between human. The symbol of touch also represents inheritance and integrated bond and connection as a family. This philosophy is reflected on how Dafam develops their properties and businesses. The creative shape of fingertip in their brand’s logo defines their passion in embracing new opportunities and having positive impact on societies. Dafam Property Indonesia DFAM

Good Corporate Governance

PT Dafam Property Indonesia Tbk conducts its business activities in an accountable manner that reflects attention not only to Shareholders but also to other parties with an interest in the Company, in this case the stakeholders (Stakeholders).

The principles of good corporate governance applied by the Company are as follows:

1. Transparency
Namely openness in the decision-making process and openness in disclosure and provision of relevant information about the Company, which is easily accessible to stakeholders in accordance with laws and regulations as well as standards, principles and practices of healthy business operations.

2. Accountability
Namely the clarity of functions, implementation and accountability of the Company's Organs so that the Company's performance can run in a transparent, fair, effective and efficient manner.
 
3. Accountability
Namely the conformity of the management of the Company with the prevailing laws and regulations and ethical values ​​as well as standards, principles and practices of healthy business operations.
 
4. Independence
Namely a situation where the Company is managed independently and professionally and is free from conflict of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations and ethical values ​​as well as standards, principles and practices of healthy business operations.
 
5. Fairness
Namely equality, balance and fairness in terms of fulfilling the rights of stakeholders that arise based on agreements, laws and regulations and ethical values ​​as well as standards, principles and practices of healthy business operations. Dafam Property Indonesia DFAM
 
 

Guideline for the Board of Directors and Board of Commissioners

Guideline for the Board of Directors

The Board of Directors conducts its duties and responsibilities based on the Financial Services Authority Regulation No. 33/POJK.04/2014 on the Board of Directors and Commisioners of Stock Issuers or Public Companies and the Company’s Articles of Association.

Duties and Responsisbilities of the Board of Directors

Duties and responsibilities of the Board of Directors are based on Article 13 of the Company’s Articles of Association, include :

  1. The Board of Directors reserves the right to represent the Company in and out of the court on all matters and in all events, bind the Company with other parties and other parties with the Company, and carry out all actions, either on management or ownership in accordance with the purposes and objectives of the Company, however with limitations that for :

    • Borrowing or lending money on behalf of the Company (excluding withdrawing the Company’s money at the Bank) ;

    • Establishing a new business or participating in other companies either at home or abroad ;

    • Buying assets in the form of immovable goods and companies, except assets that form Company’s inventory ;

    • Renting and/or leasing Company’s assets, except those are in the context of the Company’s daily business activities ;

    • Selling or by other means releasing rights to fixed assets and/or companies (which are not inventories) or pledging the Company’s assets whose value is less than or up to 20% of the total net assets in the Company ; and

    • Binding the Company as the pledgor whose value is less than or up to 20% of the total assets in the Company ; must be with written approval from the Company’s Board of Commisioners, regarding the legislation and the Capital Market regulation and the Securities Exchange Regulation in the place where the Company’s shares listed.

  2. To carry out legal actions in the transactions from containing a conflict of personal economic interests of members of the Board of Directors, Board of Commissioners or Majority Shareholders, with the Company’s economic interests, the Board of Directors requires approval from the GMS based on the affirmative vote more than half of Shareholders who have no conflict of interest.

  3. The Board of Directors is authorized to :

    • The President Director reserves the right and authority to act for and on behalf of the Board of Directors and represents the Company ; and

    • In the absence or prevention of the President Director for any reason whatsoever, for which no clarification to the third parties is necessary, then two members of other Board of Directors shall be collectively entitled and authorized to act for and on behalf of the Board of Directors and represent the company.

  4. The Board of Directors shall request approval from the GMS to :

    • Transfer the Company’s assets (which are not inventories) ; or

    • Make collateral for the Company’s debt assets, which constitutes more than 50% of the total net assets of the Company, regarding the Capital Market Regulation.

  5. In the event that the Company has interests that are in conflict with the personal interests of a member of the Board of Directors, the Company will be represented by other members of the Board of Directors designated by the Board of Directors meeting. In addition, in the event that the Company has interests that are in conflict with the interests of all members of the Board of Directors, then in this case the Company is represented by members of the Board of Commissioners designated under the Board of Commissioners’ Meeting, with due to observance of the prevailing laws and regulations

  6. The Board of Directors must request approval of the GMS to file a bankruptcy of the Company.

  7. The distribution of duties and authorities of each member of the Board of Directors shall be determined by the GMS and such authority by the GMS may be delegated to the Board of Commissioner.

Independence of Directors

The Company’s Board of Directors performs its duties and responsibilities professionally and independently, and without any intervention from other parties that may cause a conflict of interest. In addition, the appointed Independent Director of the Company does not have a relationship with members of the Board of Commissioners, Directors, and the Majority and Controlling Shareholders that may affect its capacity to act independently.

Concurrent Positions of Directors

In accordance with the Company’s Articles of Association, members of the Board of Directors can hold concurrent positions as :

  1. A member of the Board of Directors for a maximum at 1 other public company;

  2. A member of the Board of Commissioners for a maximum at 3 other public companies; and/or

  3. The Committee member for a maximum at 5 committees in public Companies where he/she also serve as a member of the Board of Directors or a member of the Board of Commissioners.

Board of Directors Meeting

The Board of Directors is required to hold internal meetings at least once a month and holds joint meetings with the Board of Commissioners at least once in 4 months.

Performance Evaluation of the Board of Directors

The performance evaluation of the Board of Directors is conducted by the Board of Commissioners and approved by Shareholders through the GMS mechanism. The evaluation is conducted by considering results of the Board of Directors’ achievement throughout the financial year as well as its compliance with the prevailing legislation, the Company’s Articles of Association, and GCG principles.

Remuneration of the Board of Directors

The procedure for determining the Board of Directors remuneration is conducted by Shareholders at the Annual GMS taking the performance and conditions of the Company into account. Based on the Annual General Meeting of Shareholders resolution on Juni 20, 2019, Shareholders have authorized the Company’s the Board of Commissioners to determine the salary and other benefits for members of the Company’s Board of Directors in accordance with the provisions of Article 96 of the Number 40 of 2007 on Limited Liability Companies.

Board Commissioners

The Board of Commissioners is the Company’s organ that is in charge of conducting supervision and providing advice to the Board of Directors relating to the management of the Company. The Board of Commissioners always ensures that the Company’s business operations are in accordance with the prevailing legislation, Articles of Association, and GCG principles.

Guideline for the Board of Commissioners

The Board of Commissioners perform duties and responsibilities under the Financial Services Authority Regulation No. 33/POJK.04/2014 on the Board of Directors and Commissioners of Stock Issuers or Public Companies and the Company’s Articles of Association.

Duties and Authorities of the Board of Commissioners

Based on Article 16 of the Company’s Article of Association, the Board of Commissioners duties and authorities include :

  1. Supervise and be responsible for supervision of management policies, general management, either on the Company or the Company’s Business, and provide advice to the Board of Directors;

  2. Under specific conditions, the Board of Commissioners must hold an annual GMS and other GMS in accordance with their authorities as set forth in the legislation and Articles of Association;

  3. Members of the Board of Commissioners shall perform their duties and responsibilities as mandated in good faith, full of responsibilities and prudence;

  4. In order to support the effectiveness of conducting its duties and resposibilities, the Board of Commissioners shall form an Audit Committee and may form other committees;

  5. The Board of Commissioners shall evaluate the performance of the committee assisting the implementation of its duties and responsibilities at the end of each financial year;

  6. The Board of Commissioners reserves the authority to suspend members of the Board of Directors by stating the reasons; and

  7. The Board of Commissioners may take action to manage the Company in the event that all Directors have a conflict of interest with the Company.

Independent Commissioner

The Company holds 1 Independent Commissioners of the total 3 members of the Board of Commissioners. As such, the Company has met the criteria related to the regulation that applies in Capital Market that every Public Company shall have an independent Commissioner of at least 30% of appointed as an Independent Commissioners meets the following criteria :

  1. Not an individual working or having the authority and responsibility to plan, lead, control, or supervise the Company’s operations within the last 6 months, except for reappointment as an Independent Commissioner of the Company in the following period;

  2. Does not have shares, either directly or indirectly with the Company;

  3. Not affiliated with the Company, members of the Board of Commissioners, Board of Directors, or the Company’s Majority Shareholders; and

  4. Does not have a business relationship, directly or indirectly, relating to the Company’s business activities.

Independence of the Board of Commissioners

Members of the Board of Commissioners act professionaliy and independently in conducting its duties and responsibilities. In addition, the Company’s Independent Commissioners do not have relations with other members of the Board of Commissioners, Board of Directors and Major and Controlling Shareholders that may affect their ability to act independently.

Concurrent Positions of the Board of Commissioners

Based on the Company’s Articles of Association, members of the Board of Commissioners can hold concurrent positions as :

  1. Members of the Board of Directors at a maximum of 2 other public companies; and

  2. Members of the Board of Commissioners at a maximum of 2 other public companies.

Meetings of the Board of Commissioners

The Board of Commissioners shall hold internal meetings at least once in 2 months and hold meetings with the Board of Directors at least onnce in 4 months.

Evaluation of the Board of Commissioners’ Performance

The performance evaluation of the Board of Commissioners is carried out by the Shareholders through the GMS mechanism. The evaluation is conducted by considering results of the Board of Commissioners’ achievement throughout the financial year as well as its compliance with the prevailing legislation, the Company’s Articles of Association, and GCG principles.

Results of the performance evaluation for the 2019 financial year show that the Board of Commissioners has performed its duties in accordance with the prevailing legislation, the Articles of Association of the Company, and GCG principles. These results are used as the basis for the Board of Commissioners to improve its performance in the following year.

Remuneration of the Board of Commissioners

The procedure for determining the Board of Commissioners remuneration is conducted by Shareholders at the Annual GMS taking the performance and conditions of the Company into account. Based on the Annual GMS resolution on June 20, 2019, Shareholders have authorized the determination of the amount of honorarium and benefits for the Board of Commissioners members to the President Commissioners based on Article 113 of the Law No. 40 of 2007 on Limited Liability Companies..

Evaluation of the Board of Commissioners’ Supporting Organ

The Board of Commissioners periodically evaluates the Audit Committee as a supporting organ that assist in conducting the supervision and advisory functions to the Board of Directors on the Company’s business continuity. This evaluation is conducted under the compliance of the Audit Committee duties and responsibilities and the quality of supervision and recommendations generated. Dafam Property Indonesia DFAM

Corporate Secretary Guideline

Corporate Secretary

The Corporate Secretary is a supporting organ of the Board of Directors serving as a liaison between the Company and Shareholders, regulators, and other stakeholders. The Corporate Secretary also plays a role to ensure that the Company’s business operations comply with the prevailing laws and regulations, Articles of Association, and GCG principles.

Guideline for Corporate Secretary

The Corporate Secretary carries out duties and responsibilities in accordance with the Financial Services Authority Regulation No. 35/POJK.04/2014 on the Corporate Secretaries of Stock Issuers or Public Companies.

Corporate Secretary’s Profile

The Company has designated Handoko Setijawan as the Corporate Secretary based on the Designation Letter No. 001/ DIR/SK/C01/I/2018 dated on Januari, 19, 2018.

Duties and Responsibilities of the Corporate Secretary

Duties and responsibilities of the Corporate Secretary include :

  1. Follow the Capital Market progress, especially legislation in force in Capital Market;

  2. Provide input to the Board of Directors and the Board of Commissioners to comply with the provisions of the prevailing legislation in Capital Market;

  3. Assist the Board of Directors and the Board of Commissioners in implementing GCG which includes :

    1. Information disclosure to the public, including the availability of information on the Company’s website;

    2. Submission of reports to the Financial Services Authority on time;

    3. Organization and documentation of the GMS; Board of Directors and/or Board of Commissioners meetings (and Committee under the Board of Commissioners)

    4. Organization and documentation of Board of Directors and/or Board of Commissioners meetings; and

    5. Implementation of orientation programs for the company in favor of the Board of Directors and/or the Board of Commissioners

  4. As a liaison of the Company with Shareholders of the Stock Issuers or Public Company, the Financial Services Authority, and other public stakeholders;

  5. The Corporate Secretary and employees in the work unit conducting functions of the corporate secretary must keep the confidentiality of documents, data, and information except in the context of fulfilling obligations in accordance with laws and regulations or required otherwise in legislation;

  6. The Corporate Secretary and employees in the work unit conducting functions of the corporate secretary are prohibited from taking personal advantage directly or indirectly, which disadvantages the Issuers or Public Company;

  7. In order to increase knowledge and awareness to help carry out its duties, the Corporate Secretary must attend education and/or training;

  8. The Corporate Secretary is liable to the Board of Directors;

  9. Any information conveyed by the Corporate Secretary to public is official information of the Company;

  10. Assist the Board of Directors in solving the Company’s issues in general;

  11. Provide srevices to the public or shareholders for information needed by investors related to the Company’s conditions:

    1. Annual Financial Statements (Audited);

    2. Annual Company Performance Report;

    3. Material Facts Information;

    4. Meaningful products or discoveries (award, superior project, discovery of special methods, etc.); and

    5. Changes in the control system or important changes in management Dafam Property Indonesia DFAM

Internal Audit Unit Charter

Internal Audit Unit

Internal Audit Unit is a supporting organ of the Board of Directors serving to examine and evaluate the performance of risk management and GCG systems. In addition, through activities conducted by the Internal Audit Unit, it is expected to increase and strengthen the scope of the Company’s internal control.

Guideline for Internal Audit Unit

The Company’s Internal Audit Unit carries out its duties and responsibilities under the Internal Audit Unit Charter composed according to the Financial Services Authority Regulation No. 56/POJK.04/2015 on Establishment and Guidelines for Preparing the Internal Audit Unit Charter. The Charter contains the following :

  1. Introduction;

  2. Position of the Internal Audit Unit;

  3. Structure of Internal Audit Unit;

  4. Duties and Responsibilities of the Internal Audit Unit;

  5. Authority of the Internal Audit Unit;

  6. Code of Conduct of Internal Audit Unit;

  7. Internal Auditor Requirements;

  8. Relation Patterns; and

  9. Quality Improvement of Internal Audit.

Duties and Responsibilities of Internal Audit Unit

The Internal Audit Unit holds the following duties :

  1. Prepare an annual audit work plan, including budget and resources, and coordinates with the Company’s Audit Committee;

  2. Conduct special audits at the request of Management;

  3. Apply the risk analysis to develop an audit plan;

  4. Assist the Board of Directors in fulfilling management responsibilities of the Company by auditing and evaluating the efficiency and effectiveness in accounting, operations, human resources, marketing, information technology, and other activities;

  5. Participate as an advisor in designing a system;

  6. Ensure that all of the Company’s assets have been reported and maintained from any damage and loss;

  7. Assess the quality of work unit performance in the Company by providing recommendations for improvements and objective information about the activities examined at all levels of Management;

  8. Conduct operational audits and compliance with Management activities aimed at ensuring that the Company’s policies, plans and procedures and applicable laws have been performed properly;

  9. Prepare an Audit Report and submits it to the President Director and the Board of Commissioners for significant findings as a result of audit accomplishment; and

  10. Monitor, analyze, and report on the follow-up implementation of recommended improvements.

The Internal Audit Unit report to the President Director in terms of :

  1. Evaluating assessment results on adequacy and effectiveness of the Company’s internal control structure and risk management as prescribed in the mission and internal auditor scope of work, so as to assist the decision making process by Management.

  2. Submitting reports on any significant findings related to the control process of the Company and Subsidiaries, including providing recommendations for improvements that may be followed up;

  3. Providing periodic information or reports on the results achieved with the targets set out in the annual audit plan and the adequacy of the number of auditors required in conducting their duties; and

  4. Coordinating with various parties, either internal or external, such as external audits, legal, etc

The Internal Audit holds the authority to :

  1. Access relevant records or information about employees, funds, assets, and other Company resources related to the performance of duties;

  2. Verify and test reliability of information obtained, in relation to the implementation of duties;

  3. Hold regular and incidental meetings with the Board of Directors and the Board of Commissioners through the Audit Committee;

  4. Coordinate its operations with external auditors’ operations; and

  5. Request advice and opinions from third parties or experts if needed in conducting duties.

Structure and Status of Internal Audit Unit

The Internal Audit Unit is an independent inspection team formed by the President Director with the approval of the Board of Commissioners. This unit is led by the Chairperson of the Internal Audit Unit who is responsible directly to the President Director.

Composition of Internal Audit Unit

Composition of the Company’s Internal Audit Unit as follows :

  1. Michael Dwi Marianto (Chairperson)

  2. Johar Ambar Mulyatno (Member) Dafam Property Indonesia DFAM

Code of Ethics

Code of Conduct

The Company is required to be trustworthy and ethical in running its business operations. Therefore, the Company prepares the Code of Conduct which will always be cultivated by all of the Company’s workforce.

The Company’s Code of Conduct consists of :

  1. Introduction;

  2. Vision, Mission, and Corporate Values;

  3. Business Ethics;

    1. The Company’s Ethics to Employees;

    2. The Company’s Ethics to the Government;

    3. The Company’s Ethics to Shareholders;

    4. The Company’s Ethics to Consumers/Customers;

    5. The Company’s Ethics to Business Partners;

    6. The Company’s Ethics to Business Competitors;

    7. The Company’s Ethics to Creditors/Investors

    8. The Company’s Ethics to Good/Service Providers;

    9. The Company’s Ethics to Surrounding Communities and the Neighborhood;

    10. The Company’s Ethics to Mass Media;

    11. The Company’s Ethics to Subsidiaries.

  4. The Company’s Commitment and Work Ethics; and

  5. Enforcement of the Company’s Code of Conduct.

The application of the Code of Conduct applies to all employees, both from non – staff, staff, supervisor, manager, general manager, to the level of Board of Directors and Board of Commissioners. The dissemination of implementing the Code of Conduct is delivered since the employees joined the Company, at the time of education/training, and also delivered through the Company’s internal sites.

Whistleblowing System

The whistleblowing system is one of the Company’s inherent supervision methods to control its internal environment in a consistent and sustainable manner. This system provides a formal channel for employees and standardizes the process of expressing aspirations that help the Company to annihilate any kind of existing or potential violation. The implementation of this system helps to actualize the GCG professionally.

Scope

The scope of the Company’s whistleblowing reporting system is as follows :

  1. Describe all aspects needed to establish and implement a whistleblowing reporting system as a a forum for governance of whistleblowing reporting; and

  2. This whistleblowing reporting system applies to the Company’s internal interest which include all employees, Board of Directors and Board of Commissioners.

Objectives

The Company’s whistleblowing reporting system aims to :

  1. Help the Company in increasing the work productivity through eradicating all forms of violation and potential violation;

  2. Reduce the Company’s losses through early prevention as a form of follow-up from reporting through various whistleblowing reporting channels;

  3. Improve the image and reputation of the Company holding good GCG;

  4. Create an increasingly conducive climate and encourage all employees to report on issues that may cause financial or non-financial losses, including those that may corrupt values and image of the Company;

  5. Simplify Management to deal efffectively with all forms of reports of violation and potential violation; and

  6. Protect the confidentiality of the whistleblower’s identity and maintain the security of reported information managed in a special database.

Mechanism of Conveying and Handling the Whistleblowing

The reporting mechanism uses a special scheme submitted to the relevant Head of Department and copied to the Company’s Internal Audit Unit and the Human Resources and General Affairs Department of the Company and each of the Subsidiaries, using email facilities or applications provided to facilitate the process.

The procedure for handling violation reporting is outlined below :

  1. Reporting format

    • Reporting of violations must be submitted in writing and must include the identity of the employee (for external parties accompanied by a photocopy of ID card and phone number) and include the chronolgy of events and if possible provide supporting evidence; and

    • The Company will not follow up anonymous reports or letters.

  2. Violation or potential violations that may be reported include:

    • Corruption;

    • Fraud;

    • Money laundering;

    • Insider dealing;

    • Acts that violate the law (including theft, use of violence against employees or leaders, extortion, drug use, harassment, acts of other criminal categories;

    • Violation of tax provisions, or other laws and regulations;

    • Violation of the Company’s Code of Conduct or Company Values or violations of courtesy norms in general;

    • Actions that harm the work safety and health, or harm the security of the Company;

    • Actions that may cause financial and/or non-financial losses to the Company or loss of the Company’s interests;

    • Violation of all Company policies, including but not limited to Company regulations, standard operating procedures (SOPs) along with their implementation instruction; and

    • Others that support th creation of good corporate governance.

Protection for Whistleblowers

The whistleblowing system is part of efforts to implement the Code of Conduct. Therefore, the Company is committed to providing and guaranteeing the protection of whistleblower, either from within or outside the Company’s environment., so that complaints are not inhibited and whistleblowers can feel safe. With tihis commitment, it is expected that all people will be motivated to be open and courageous to inform violations in a factual and honest manner. Dafam Property Indonesia DFAM

Audit Committee

Audit Committee Guidelines

The Company’s Audit Committee carries out its duties and responsibilities based on the Audit Committee Charter composed under the Financial Services Authority Regulation No. 55/POJK.04/2015 on Establishment and Work Guidelines of the Audit Committee. The Charter contains the following :

  1. Introduction;

  2. Audit Committee Formation and Membership

    1. Definitions;

    2. Membership;

    3. Formation and Appointment of Members;

    4. Member Requirements; and

    5. Audit Committee Meeting;

  3. Functions, Duties, Authorities, and Responsibilities

    1. Work Relationship;

    2. Duties;

    3. Authorities;

    4. Responsibilities of the Audit Committee; and

    5. Reporting;

  4. Closing.

Audit Committee Duties and Responsibilities

Based on the Audit Committee Charter, the Audit Committee duties and responsibilities include:

  1. Review the financial information the Company will release to the public and/or to the authorities covering Financial Statements, projections and other reports related to the Company’s financial informations;

  2. Review compliance with laws and regulations relating to the Company operations;

  3. Provide independent opinions in the event of disagreements between management and accountants for services they provide;

  4. Provide recommendations to the Board of Commissioners on the designation of accountants based on independence, scope, assignments, and fees;

  5. Review the implementation of audits by internal auditors and oversee the implementation of follow – up actions by the Board of Directors on findings of internal auditors;

  6. Review the risk management operations conducted by the Board of Directors, if the Company has no risk monitoring function under the Board of Commissioners;

  7. Review complaints relating to the Company’s accounting process and financial reporting;

  8. Review and provide advice to the Board of Commissioners on any potential conflict of interest of the Company; and

  9. Maintain confidentiality of the Company’s documents, data and information.

The Audit Committee also hold the authority to

  1. Access Company or Public Company documents, data and information of employees, funds, assets, and company data sources needed;

  2. Communicate directly with employees, including Board of Directors and parties conducting functions of internal audit, risk management, and accountants relating to Audit Committee duties and responsibilities;

  3. Involve independent parties outside the Audit Committee which are required to assist in implementing their duties (if needed); and

  4. Perform other authorities assigned by the Board of Commissioners.

Audit Committee Composition and Term of Office

The composition of the Company’s Audit Committee consists of :

  1. Santoso Widjojo (Chairman)

  2. Adi Riris Wibowo (Member)

  3. Jaeni (Member)

  4. Siti Sundari (Member)

Independence of the Audit Committee

All members of the Audit Committee perform their duties and responsibilities professionaly and independently. The party designated to be a member of the Audit Committee has no affiliation with the Board of Commissioners, the Board of Directors, and Major and Controlling Shareholders that may cause a conflict of interest.

Audit Committee Meeting

The obligation to hold an Audit Committee meeting is once in 3 months. In complying with this provision, the Audit Committee of the Company has held the meeting 4 times. Dafam Property Indonesia DFAM

Nomination and Remuneration Function

The Company does not form a special committee related to nomination and remuneration taking the scale of business and current needs into consideration. The procedure for nomination and remuneration of the Company is carried out by the Board of Commissioners pursuant to Article 11 of the Financial Services Authority Regulation No.34/POJK.04/2014 on the Nomination and Remuneration Committee of Stock Issuers or Public Companies.

In 2018, the Board of Commissioners has performed remuneration procedures for members of the Board of Commissioners and members of the Board of Directors according to the delegation of authority made by Shareholders at the 2018 Annual GMS. Dafam Property Indonesia DFAM

Risk Management System

The Company is aware of the risks arising as a result of business operations. Therefore, Management continuously monitors the Company’s risk management process to ensure an adequate balance between risk and control. The risk management system and policy are regularly reviewed to adjust to changes in market conditions and Company operations.  Dafam Property Indonesia DFAM

Head Office
Menara Suara Merdeka Lantai 11
Jl. Pandanaran No. 30, Semarang, 50134,
Jawa Tengah - Indonesia
Telephone : +62 24 356 9595
Facsimile :  +62 24 356 9222
Email :  corporate@dafamproperty.com

 Dafam Property Indonesia DFAM