The Company complies with the policy on succession plan which is considered a part of the manpower management strategy and is a sub-mission of the human resource planning strategy, where remuneration and benefits are determined and supervised for personnel appropriately and fairly in order to retain personnel to be ready to grow together with the Company in the long term. In addition, the Company plans to select personnel who will be responsible for all important management positions appropriately and transparently to ensure that the Company has professional executives and to prepare qualified personnel with sufficient knowledge and skills to replace executives and senior executives in the event of resignation, retirement, retirement by rotation or failure to perform duties under any circumstances so that the operations of such position are conducted continuously, smoothly, and effectively and the risk of lack of successor is minimized.

Guidelines on Nomination and Criteria on Selection

The Nomination and Remuneration Committee prepares a succession plan for Chairman of the Executive Committee, Managing Director, and Executive of the Company to propose to the Board of Directors for consideration. Regarding the nomination and selection of persons to be an executive of the Company, the Nomination and Remuneration Committee supervises the follow-up to the progress of the succession plan and reports the progress of the succession plan to the Board of Directors for acknowledgement. Such plan includes the following positions.

1.

Chairman of the Executive Committee / Managing Director

When the executive position at the level of Chairman of the Executive Committee / Managing Director is vacated or the person holding the position is unable to perform his/her duties of the position, the Company will provide a nomination approach which requires executives at similar or secondary levels to be an acting officer until the nomination and selection of qualified persons is complete according to the rules specified by the Company. The Nomination and Remuneration Committee shall be a nominee to present the list to the Board of Directors to consider and approve the appointment of the qualified person to hold the position.

The Qualifications of the Chairman of the Executive Committee / Managing Director are as follows:

1.
At least the master degree
2.
Knowledgeable, skillful, and experienced in real estate development management
3.
Strong leadership and visionary leadership
4.
Ability to plan strategies and manage the organization
5.
Making decision and problem solving discreetly and carefully by taking into account the society, the environment and maximum benefits of the Company

Individual Development Guidelines

1.
Attending necessary seminars for directors to achieve the performance of duties
2.
To share ideas regularly with organizations and luminaries

2.

Executive

In the event that the management positions at the level of department manager and above are vacant or the individual in such positions cannot perform their duties, the Company shall have the selected successor of the position proposed to the Board of Directors of the Company. The succession planning of the executive position level is as follows.

1.
Analyze business condition of the Company in term of its strategy, policy, investment and expansion plans.
2.
Evaluate the readiness of manpower to be consistent with the Company’s strategy in both short term and long term.
3.
Create plan making the availability of manpower by developing or recruiting employees to replace those resigning from the Company.
4.
Create Recruitment Plan and arrange for Employee Training and Development in advance prior to retirement or early retirement of employees.
5.
Define competencies, which refers to the knowledge, skills, personality and desirable attitude of the employees in certain positions and establish the Individual Development Plan.
6.
Select, evaluate and assess the performance to determine the potential of employees’ suitability.
7.
Use tool to test and evaluate the employees to analyze their potential.
8.
Select successors based on the assessment and analysis of the employees? potential and performance. The employees shall be notified in advance in order to prepare for the handover and learning of the new responsibilities, while a successor shall also be determined.
9.
Develop and evaluate employees who are expected to be successors whether they can be developed and have performance as expected. If it is contrary to the expectation, the change of successors can be done.