(19 April 2017) PT Multipolar Tbk (“Multipolar”, IDX: MLPL) yesterday received an award for Good Corporate Governance from the Indonesian Institute for Corporate Directorship (IICD). Multipolar is among the top 40 companies with the highest ASEAN Corporate Governance Scorecard scores among 100 mid-cap companies in Indonesia.<\/p>\n\n\n\n
Since 2011, IICD has been commissioned by the ASEAN Development Bank (ADB) to rate companies based on the ASEAN CG Scorecard (ACGS) that is also being used to rate CG practices in six ASEAN countries \u2013 Malaysia, The Philippines, Singapore, Thailand, Vietnam and Indonesia. IICD has also been appointed by Indonesia\u2019s Financial Services Authority (Otoritas Jasa Keuangan <\/em>— OJK) as Domestic Ranking Body to rate corporate governance practices at 100 largest cap companies in Indonesia.<\/p>\n\n\n\n The Company\u2019s management recognizes that good corporate governance practice is very important for the sustainability of the business and to bolster the investors\u2019 and public\u2019s confidence, and the award further motivates the Company\u2019s management to uphold and continue improving the Company\u2019s corporate governance standards in the future.<\/p>\n\n\n\n Multipolar, a Lippo Group company, is a diversified holding company focused on the retail and TMT (Technology, Multimedia and Telecommunications) segments. In retail, it owns 50.2% of Matahari Putra Prima (MPPA) and 17.5% of Matahari Department Store, the largest hypermarket network and the largest department store in Indonesia, respectively, as well as other retail ventures. In TMT, Multipolar owns 80% of Multipolar Technology, a premier IT systems integrator, outsourcing and services provider, 33.7% of First<\/em> Media, the country\u2019s largest fiber-optic internet broadband and cable TV operator, 44% of IMTV, one of the fastest growing satellite pay TV service in Indonesia with its BigTV brand, as well as other interests in the TMT sector.<\/em><\/p>\n\n\n\n