In conducting the business, the Company is led and managed by Board of Directors under the supervision of Board of Commissioners. In carrying out its duties, Board of Commissioners and the Board of Directors in their respective capacity are determined to do business in good faith, with transparency, accountability and upholding the principle of Good Corporate Governance (“GCG”) to keep maintaining and protecting the Company’s interests. The determination in implementing those principles is crucial in obtaining and maintaining the confidence and trust from the Shareholders and all Stakeholders.
Corporate Governance Principles
The Company designs its policies and practices based upon the following GCG Principles:
The Company manages information transparently, ensuring that Stakeholders gain access to information usable and important for them. The Company used print and electronic media are provided in order that Stakeholders may access information in a timely fashion.
Accountability is implemented in 3 (three) levels of governance through regular meetings in which the Board of Directors report to the Board of Commissioners on the financial and operational aspects of the Company, operational budgeting prior to the commencement of the financial year and performance evaluation towards the end of the financial year and Annual General Meeting of Shareholders held annually in which the Board of Directors and Board of Commissioners report to Shareholders the results of the year the latest.
The Company‘s business activities are always carried out in accordance with the laws and regulations through sound corporate management principles and their implementation is not contrary to the public interest.
The Company continuously conducts its business in a professional manner and avoids conflicts of interest and pressure from any party that does not comply with applicable laws and regulations and sound corporate principles.
In its relationships with Stakeholders, the Company makes every attempt to engage on the basis of equality and fairness in addressing the rights of all Shareholders and other Stakeholders, with basic approaches grounded in revailing laws and regulations.