The Company, under its previous name PT Maxima Perdana Finance, obtained business license for financial institution from the Minister of Finance of the Republic of Indonesia with Decree No.994/KMK.017/1993 dated December 30, 1993. The company began its operation on June 21, 2003, with a business license based on the Decree of the Minister of Finance of the Republic of Indonesia No. KEP-161/KM.6/2004 dated May 4, 2004 Jo. No. KEP-654/KM.10/2010 dated December 9, 2010.

The Company first listed its shares on the Indonesia Stock Exchange in 2008 with a total of 460,000 shares, then in 2017 the Company conducted a Limited Public Offering I and to issue pre- emptive rights (“Rights”) with a total of 1,583,160,556 shares. On December 28, 2018, the Company obtained effective statement from the Financial Services Authority (“OJK”) to conduct a Public Offering for Capital Increase by Giving Pre-emptive Rights II (“PMHMETD II”) of 3,102,193,089 shares and in January 2019 the Company has issued 3,102,193,089 shares. Therefore, by the end of 2019 the number of outstanding shares of PT Verena Multi Finance, Tbk is 5,687,353,997 shares.

The Company is part of the Mizuho Leasing Company, Ltd. which is part of the Mizuho Financial Group, one of the largest financial institutions in Japan. The share ownership of Mizuho Leasing Company, Ltd as of December 31, 2019 is 67.44%.

In 2019, the Company merged with an associated entity, PT IBJ Verena Finance, where PT IBJ Verena Finance merged into the Company and the Company turn into a surviving entity. Currently, the Company’s main business activity is financing in the Retail and Corporate sectors.

PT Sompo Insurance Indonesia (Sompo Insurance) officially signed a cooperation agreement with PT Verena Multi Finance Tbk in Menteng Area, Central Jakarta. The signing of the agreement between Eric Nemitz as Chief Executive Officer of Sompo Insurance and Konosuke Mizuta as President Director of PT Verena Multi Finance Tbk, reaffirms Sompo Insurance's commitment to consistently provide support for the business development of partners, including financing companies (leasing) that are active in the vehicle market. Motorized.

Eric Nemitz, Chief Executive Officer of Sompo Insurance said, "We want to start a new business journey that is prospective and fruitful for both parties, where Sompo Insurance and Verena Multi Finance are collaborating in this market even more closely. We are committed to providing support that is not just limited to products and focuses on marketing, but more than that ”. Eric also emphasized "Through this collaboration, we want to reaffirm our commitment as a long-term partner of Verena Multi Finance, that whatever we do, our focus is to provide support to develop their business".

In his remarks, Konosuke Mizuta as President Director of PT Verena Multi Finance Tbk said, "We are very grateful for Sompo Insurance's extraordinary support. Considering that Sompo Insurance is one of the most important partners, this cooperative relationship must last for a long time. In order to create a long-term cooperative relationship, both Verena and Sompo Insurance need to create a situation that is favorable to both parties. I am sure, if that happens, this cooperation will certainly last forever ”. Verena Multi Finance VRNA

The Principle of Good Corporate Governance

The Company gives full commitment to apply good corporate governance in business process and whole the corporate governing aspect because the company realized that a Company growth depends on good corporate governance. The Company has been perfecting the corporate governance continuously in accordance with the existing development. The implementation of the principle of good corporate governance is the foundation of the company governing system.

The principles are:

1. Transperency

Transparency in decision making process, disclosure and alvailability of information and easiness of accessing the information about the Company by the stakeholders in accordance with regulation in financing business also standardized principles and practices.

2. Accountability

Clarity of function and responsibilities the Company organ so the Company can run the business transparently, properly, effectively, and efficiently.

3. Responsibility

The compliance of the Company management with the Regulations in financing business and values of ethics also standard, principles, and implementation of a healthy financing business.

4. Independency

The Company condition which is managed independently and professionally and free from conflict of interest and influence or pressure from any parties which is not in accordance with regulation in financing business and values of ethics and standard, principles, and implementation of a healthy financing business.

5. Equality and Fairness

Equality, balance, and fairness in fulfilling the rights of stakeholders based on agreement, regulations, and ethical values and standardized principles and business practices of a healthy financing business. Implementation of those principles in corporate governance system can actualize some objectives that can improve Companyâ€™s performance, as follows:

Optimize the Companyâ€™s values for the shareholders and other stakeholders.
Improve the Companyâ€™s performance and competitiveness by comprehensive business plan, supported by the information technology.
Create healthy working environment for the Company, employees and close relationship with the environment around the Company.
Open investment line and stimulate national economy growth. Verena Multi Finance VRNA

Corporate Secretary

The Corporate Secretary is individual of person in charge of a working unit which implements corporate secretary function. The corporate secretary is appointed and discharged based on the decision of the Board of Directors. The position of the corporate secretary is under the Board of Directors and is responsible in duties and responsibilities implementation of the Board of Directors on problems related with good corporate governance and compliance of regulations especially regulations about the stock market, financial industry non â€“Bank , specifically financing institution and other activities which are the legal activities of the Company. Verena Multi Finance VRNA

BOC Charter

The Board of Commissioners is the Companyâ€™s organ whose duty is to supervise generally of in specific way in accordance with Articles of association of the Company and to give advice to the Board of Directors. The appointment and dismissal of the members of the Board of Commissioner is conducted through the General Meeting of Shareholders. The tenure of each member of the Board of Commissioner expires at the closing of the third Annual General Meeting of Shareholders following the date of appointment, without prejudice to the right of the General Meeting of Shareholders to dismiss members of the Board at any time before the expiration of his tenure. Verena Multi Finance VRNA

BOD Charter

Board of Directors is Company are organ who has the authority and full responsibilities on the Company management for the benefit of the Company in accordance with purpose and objectives of the Company also as the representative, in or outside the court which is in accordance with the Articles of Association of the Company Verena Multi Finance VRNA

Internal Audit Charter

The Internal Audit Unit is an independent internal unit that assists the Board of Commissioners in implementing the principles of good corporate governance and ensuring effective and transparent management. The unit examines, evaluates, evaluates, and provides recommendations relating to the activities of business units and the internal control system. Verena Multi Finance VRNA

Committee Audit Charter

Audit committee is a committee formed by and responsible to the Board of Commissioners in assisting the duties and function implementation of the Board of Commissioners. Audit committee consists of at least 3 (three) members coming from the Independent Commissioners and other parties and has duties to assist the Board of Commissioners in supervising and ensuring the effectiveness of internal control system and the implementation of internal and external auditor duties by conducting supervising and evaluation of plan and implementation of audit to evaluate the adequate internal control including financial reporting.

The audit committee is led by the Independent Commissioner and works based on the Working Guidance of Audit Committee that has been approved by the Board of Commissioners. Verena Multi Finance VRNA

Code of Ethics

As a guideline of the company in running the companyâ€™s business activities in accordance with the principles of Good Corporate Governance, the Company has a code of ethics that applies to all organs in the Company.

Regulation about Codes of Conducts are specially stated in the decree of the Board Commissioners No. HRD-001/SK-PK/XI/05 dated on January 1st, 2006 about Business Codes of Conducts and Working Ethics of PT Verena Multi Finance Tbk which stated:

Communication line
Main responsibilities of employees
Security of the Companyâ€™s assets
Relationship with suppliers, customers, and partners.
Interaction with the Government
Appliances of Code of Conducts on each activities done by employees
Sanction for any violence of Code of Conducts

The provision of this Codes of Conducts application is binding for all Board of Commissioners, Board of Directors and all employees Verena Multi Finance VRNA

BOC Remuneration Procedure

The procedure for determining the remuneration of the board of Commissioners is as follows:

Review the compensation for the members of the Board of Commissioners in other companies of the same industry as well as market condition.
Taking into account the Companyâ€™s performance and contribution of each individual, the management convenes in a discussion and provides recommendations. Verena Multi Finance VRNA

BOD Remuneration Procedure

The procedure for determining remuneration of the Board of Directors is as follows:

Review the compensation for the members of the Board of Directors in other companies of the same industry and in accordance with market condition.
Taking into account the Company performance and contribution of each individual, the management convenes in a discussion and provides recommendation.
The recommendations are presented to the Board of Commissioners to be discussed and approved, and then discussed further at AGMS to obtain approval. Verena Multi Finance VRNA

Violation Reporting Policy

For all violation related case, the Company provides reporting media through email whistle@verena.co.id, or other channels such as faximile, telephones, and letter to Company Internal Audit Unit. Moreover, Board of Commissioners and Board of Directors are available to receive any printed letters or other telecommunication channel over things related to the Company business. They are also including report suspected crimes or unfairness.

For any complaints which are valid, the Company would provide protection towards the reporters. This protection are included:

The confidentiality is kept secure over the identity and content claim.
Protection over the possibility of threat, intimidation towards the reporter. Verena Multi Finance VRNA

Multi Purpose Financing

Verena Multipurpose Financing is financing to meet consumptive needs such as financing car ownership, house, house renovation costs, travel expenses, education costs, wedding expenses, medical expenses and other costs by guaranteeing BPKB or land / house / shop certificates. Verena Multi Finance VRNA

Investment & Working Capital Financing

I. INVESTMENT FINANCING

Verena provides financing for the procurement of capital goods and services required for business / investment activities, rehabilitation, modernization, expansion or relocation of business / investment locations provided to debtors for a period of more than 2 (two) years by guaranteeing Fix Asset. The following is the investment financing provided by Verena:

Factoring with Recourse
Financing provided by Verena to prospective customers who have invoices and need investment funding with a tenor of more than 2 years. Consumers bear the risk of uncollectible part or all of the receivables sold to Verena.
Example: Consumers have long-term receivables and need funding to play cash flow so that they can be used to run their business.

Project Financing
This financing is provided by Verena to consumers in order to support a project that requires the procurement of several types of capital goods and / or services related to the implementation of the project procurement.
Example: The project winner needs investment financing for road construction.

II. WORKING CAPITAL FINANCING

Verena provides financing to meet consumer expenses that have run out in one cycle of business activity and is a financing with a maximum term of 2 (two) years by guaranteeing Fix Asset. The following is the Working Capital Financing provided by Verena:

Business Capital Facilities
Verena provides business capital facilities by providing financing based on evidence of invoices for the purchase of goods or use of services received by consumers from providers of goods or services, with a financing period of not more than 2 years.
Example: A shoe factory, including shoe craftsmen (MSMEs), requires short-term funding to finance day-to-day operations for shoe production. Verena Multi Finance VRNA

Panin Bank Building Floor. 3
Jl. Pecenongan Raya No. 84
RT.2 / RW.4
Ex. Kebon Kelapa., Kec. Gambir
Central Jakarta 10120
Telephonev: 021-350.4890
Facsimile : 021-350.4891

Verena Multi Finance VRNA

Verena Multi Finance Company Profile