The Company is committed to the ongoing implementation of good corporate governance (“GCG”). The Company is confident that the comprehensive implementation of GCG principles throught the company will sustainably enhance it’s long term value for all stakeholders.The Company has an established GCG Guideline based on the prevailing regulations in Indonesia, the Company’s articles of association and GCG principles covering transparency, accountability, responsibility, independency and fairness.
Corporate Governance Structure
Based on Law No. 40 of 2007 regarding Limited Liability Entities, the Company’s organs consist of the General Meeting of Shareholders, the Board of Commissioners and Board of Directors. These three bodies, assisted by the Committees and Corporate Secretary, play important roles in the implementation of GCG.
In performing its oversight duties, the BOC is assisted by the following two Committees:
1. Audit Committee
1. Audit Committee
2. Nomination and Remuneration Committee
|Nomination and Remuneration Committee|
|Member||Benny Setiawan Santoso
Manager of Corporate Human Resources Division
Victor Suhendra was appointed as the Corporate Secretary of the Company on 01 August 2018 by the Decree of the Board of Directors dated 01 August 2018. Read more
Risk Management System
The Company recognizes that adequate implementation of risk management system is crucial for the management of various business risks. The goal of this system is to ensure that risks that could hinder the Company from achieving its business objectives are mitigated properly. The Company manages its risks by implementing Enterprise Risk Management (“ERM”) throughout the organization. The Board of Directors (“BOD”) is responsible for and plays an important role in ensuring successful implementation of risk management program. A top-down assessment is taken by the BOD to promote high level risk awareness.
Meanwhile a bottom-up approach, following the Company’s ERM Policy and Procedure, enables subsidiary and business unit to be responsible for its own risk assessment which is reported to the Directors and/or related Directors of the subsidiaries and business units. This two-way assessment empowers the Boards and management to identify, manage, and mitigate the risks from both the management and operational perspectives. The corporate ERM team consolidates the key risks and provides a report to the BOD and Audit Committee every semester for their review. The Internal Audit Division conducts independent reviews through routine audits to provide reasonable assurance that risks have been identified and proper mitigating controls are in place.