In line with the company vision and mission, the Company is committed to making GCG part of the company’s culture and management. To achieve this aim, the Company has set the GCG mission as follows:
The realization of corporate sustainability through management based on the principles of transparency, accountability, responsibility, independence, as well as fairness and equality.
The realization of functional empowerment and the independence of individual instruments of the company, i.e. General Meeting of Shareholders, Board of Commissioners and Board of Directors.
The realization of all instruments of the company always making decisions based on high moral values and in compliance with relevant laws and regulations.
The Company applies the principles of good corporate governance to ensure the achievement of optimum results through the application of GCG, including:
Improving Company performance through the creation of better decision making processes, improving
Company operational efficiency and improving service to stakeholders.
Improving corporate value through improvements to financial performance and minimizing the risk of
investment decisions which contain conflict of interest.
Improving investor trust.
Achieving stakeholder satisfaction due to increasing corporate value and Company dividends.
Directing and controlling working relations of company instruments, i.e. General Meeting of Shareholders, Board of Commissioners and Board of Directors.
Improving Company management accountability to the Shareholders by taking into account stakeholder
Creating a clear working relationship between the company and the stakeholders.
Directing achievement of the company’s vision and mission and increasing the professionalism of human resources.
Encouraging and supporting more effective business development, management of company resources and risk management to increase corporate value.
With strong commitment and consistency in the application of good corporate governance, the Company believes it will overcome the practices of Corruption, Collusion and Nepotism, as well as improve supervisory functions in the management of the Company. In addition to this, it is hoped that consistent application of GCG will also sustainably improve business performance and growth, which will in turn increase Corporate Value for shareholders and other stakeholders.
The Management is committed to compliance with GCG and has implemented various relevant policies and stipulations, including the establishment of duties and responsibilities for every function related to planning, implementation and management of company internalcontrols; setting appropriate levels for internal control management; achievement of targets; designing disclosure control policies and procedures; documentation, reporting, and provision of written statements regarding the effectiveness of ICoFR; and the results of periodic selfassessment
In accordance with Law No. 40/2007 regarding Limited Liability Companies, the Company’s Instruments consist of the General Meeting of Shareholders (GMS), Board of Commissioners and Board of Directors. Management of the Company adheres to the two boards system, i.e. the Board of Commissioners and the Board of Directors, each with its own clear authority and responsibility according to its functions as mandated in the Articles of Association and Legislation.
The Company has the necessary infrastructure for the implementation of GCG; the Board of Commissioners has formed functional committees to empower supervisory functions. Meanwhile, the Board of Directors has also formed work units to control, initiate and be responsible for implementation of GCG, as well as assigning them as work partners to the committees under the Board of Commissioners, as demonstrated below.