Good Corporate Governance

The 5 CGC Principles

1. Accountability

The Company has Management Systems that enhance Accountability, from the Reporting of the Board of Directors to the Board of Commissioners regarding the annual budgeting and evaluation of financial performance to the accountability report of the Board of Commissioners and Directors that request for the shareholders’ approval at the Annual General Meeting.Specific job descriptions and KPI’s are bolstered by the Company’s Code of Conduct.

2. Transparency

Company provides transparent information to the public and shareholders in a form of regular and timely publications through printed and electronic media, including, Quarterly Financial Reports, Half Year Financial Reports, Audited Annual Financial Reports, Annual Reports and Press Releases, as well as Investor Updates and Roadshows.

3. Independency

Conflicts of interest are prevented through transparent processes, especially for the selection of higher level management. All related party transactions are properly disclosed.

4. Responsibility

The Company always gives meaning to every business step taken with priority to comply with prevailing regulation and conduct its responsibility to society and the environment with proper values, avoiding conflict of interest so that long-term efforts can be maintained continuously and the Company can receive recognition as a good corporate citizen.

5. Fairness and Equality

To maintain fair and harmonious relations with suppliers, employees, customers, shareholders and all stakeholders, the Company has a policy of fair and equal treatment with zero acceptance of discriminatory action.

Corporate Governance Structure

The Company’s Governance Structure comprises organs according to their accountability and responsibility based on regulation and the Company’s Articles of Association. At the top is the General Meeting of Shareholders, followed by Board of Commissioners, Board of Directors, Board of Management and supporting bodies under these organs, namely the Audit Committee, Nomination and Remuneration Committee, Internal Audit, Corporate Secretary.