PT Fortune Mate Indonesia Tbk
Climate Impact & Sustainability Data (2014)
Reporting Period: 2014
Environmental Metrics
ESG Focus Areas
- Social Responsibility (CSR)
Social Achievements
- Corporate Social Responsibility (CSR) program in 2014 included environmental, health, humanitarian, and social initiatives. Specific initiatives included the rejuvenation of a community meeting hall and donations to schools near projects.
Governance Achievements
- Implemented good corporate governance principles, including establishing an Audit Committee, Corporate Secretary, and Internal Audit Department.
Climate Goals & Targets
Environmental Challenges
- Slowdown in economic growth in developing countries due to the European crisis and US monetary policy tightening.
- Weakening of the Indonesian Rupiah, impacting purchasing power for property products.
- Stringent Loan To Value (LTV) policies from Bank Indonesia, increasing down payments and tightening mortgage requirements.
- Fierce competition in the housing market.
Mitigation Strategies
- Implemented cost efficiency measures in ongoing projects.
- Developed new projects (warehousing, industrial, office, and retail) in Tambaksawah, Sidoarjo and Kandangan, Surabaya.
- Careful and thorough financial planning to support operations and business development.
- Developed superior and competitive products.