Objective of GCG Implementation
The Company adopts the principles of good governance aimed at ensuring optimal results, including:
- Increasing the Company’s performance through the creation of better decision-making processes, improving the Company’s operational efficiency and services to stakeholders.
- Increasing corporate values through improving financial performance and minimizing investment risk that contain conflicts of interest.
- Increasing assurance for investors.
- Achieving stakeholder satisfaction by increasing corporate values and the Company’s dividends.
- Directing and controlling the Company’s Organ relationships.
- Increasing the accountability of the management of the Company to Shareholders while taking into account the interests of the stakeholders.
- Encourage and support business development, effective management of resources and risk so as to increase the Company’s value.
Legal Basis for GCG Implementation
In implementing GCG, the Company refers to a number of rules and regulation, including:
- Law No. 40 of 2007 on Limited Liability Company;
- Law No.19 of 2003 on State Owned Enterprises (SOEs);
- Minister of SOE Regulation No. PER-01/MBU/2011 concerning the Implementation of Good Corporate Governance in SOE, later amended by the State Minister of SOE Regulation Number PER-09/MBU/2012 concerning Amendments to the Regulation of the Minister of State Owned Enterprises Number PER-01/MBU/2011 concerning the Implementation of Good Corporate Governance in State-Owned Enterprises.
- SOE Ministry Secretary Decree No.SK-16/S.MBU/2012 concerning Indicators/Parameters for the Implementation of Good Corporate Governance in SOE.
- Financial Services Authority Regulation No.21/POJK.04/2015 concerning the Guidelines for Governance of Public Companies.
- Financial Services Authority Circular No.32/SEOJK.04/2015 concerning Public Company Governance Guidelines
- Articles of Association of the Company. Those who need Articles of Association documents can send requests via e-mail firstname.lastname@example.org.