Good Corporate Governance


The Company monitors its governance structure, making adjustments to meet both regulatory changes and stakeholders needs. New policies and procedures are developed and existing policies and procedures are also updated to ensure that customers, shareholders, employees and others have their interests protected and the Company, as a whole, is strengthened throughout its operations.


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

The 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, Press Releases and investor updates.

3. Independency

Conflicts of interest are prevented through transparent processes, such as in the fields of selection of higher level management, vendor selection process and other transactions with third parties. 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.

Meeting the expectations of all stakeholders, the Company has continued to strengthen its Good Corporate Governance (GCG) practices. GCG systems also continues to be uphold in order to meet the requirements set by laws and regulations, specifically the Indonesian Limited Liability Company Law, the Financial Services Authority (OJK) and the Indonesian Stock Exchange (IDX). In addition, the Company is guided in GCG by the National Committee on Governance Policy.


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.