The Company consistently implements good corporate governance according to the rules and principles of responsible management. Good structure and mechanism regulate the Company’s governance in an effort to give sustainable long-term economic value for shareholders and stakeholders. The implementation of good corporate governance is expected to be able to contribute to the improvement of the Company’s performance. This understanding underlies our commitment to enforce the implementation of good corporate governance (GCG) in every level and operation of the Company.
Throughout the year 2019, the Company ensured that all activities are conducted in accordance with the basic principles of good corporate governance: transparency, accountability, independence, responsibility and fairness. The Company also adhered to generally accepted business ethics and prevailing laws and regulations.
The Company’s GCG structure been designed in such a way to establish clarity and separation of duties and responsibilities as well as mechanisms and procedures of decision-making and reporting by the company’s organs with reference to the prevailing laws and regulations. The Company’s GCG main organ consist of the General Meeting of Shareholders (GMS), the
Board of Commissioners and Directors with GMS holds the highest authority. The main organ is assisted by the supporting organ under the Board of Commissioners and Board of Directors, which consists of committees at the level of the Board of Commissioners, Internal Audit and Corporate Secretary.