In conducting business, the Company always complies with all applicable laws, regulations, and capital market requirements. One of them is by implementing Good Corporate Governance (GCG) principles such as transparency, accountability, responsibility, independence, fairness, and equality. By implementing GCG principles, the Company will set a solid foundation for the achievement of its vision, mission, and commitment to shareholders and stakeholders.
All of these principles are then translated into other standard formats, such as the Code of Conduct, Company Policies, and Standard Operating Procedures (SOP). As a result, all employees at all levels are expected to perform their tasks, functions, authorities, and responsibilities, both individually and in groups, while adhering to the GCG principles throughout the Company’s operations. In detail, the Company has a framework that applies the GCG principles listed below:
The Company’s transparency is displayed through giving clear information to all shareholders and stakeholders, as well as assuring accurate and timely disclosure of performance and activity information. Transparency guarantees that all shareholders and stakeholders have high confidence and faith in the Company’s decision-making and management procedures, within the boundaries of applicable laws and regulations.
The Board of Commissioners and the Board of Directors consistently apply corporate accountability in delivering a balanced and comprehensive assessment of the Company’s condition and prospects, including the nature and extent of potential risks. As the Company’s highest management, the Board of Commissioners and the Board of Directors use formal and transparent procedures to serve as material for corporate reporting and risk management. Good risk management and internal control systems monitor the Company’s progress toward meeting business goals.
The Company aims to always comply with applicable laws and regulations, as well as to perform its responsibilities to its shareholders and stakeholders. Along with the Company’s commitment, it is critical to executing the principle of responsibility in carrying out business activities in compliance with ethical standards (code of ethics) and applicable laws and regulations.
This principle requires that the Company in managing its business is carried out professionally without any conflict of interest and no intervention from other parties that is not in accordance with the applicable regulations. Additionally, the Company must be administered autonomously to ensure that no one organ of the Company dominates another.
Fairness and Equality
Consistently, the Company must ensure that all of its business activities are conducted in the best interests of shareholders, stakeholders, employees, and the community, in accordance with applicable laws and Company policies, and in accordance with the principles of equality and fairness. The Company is committed to safeguarding the interests of shareholders and stakeholders in the process of defining, developing, and implementing all management and business unit functions, activities, and decision-making.