Governance

In carrying out its business, the Company always tries to apply the principles of Good Corporate Governance. The application is characterized by the existence of GCG KSP which refers to the Ministry of State-Owned Enterprises No. 117 of 2002 where the Company's organs in improving business success and accountability to always pay attention to the interests of stakeholders based on laws and ethical values. The GCG KSP principle is a rule, norm, or corporate guideline needed in a healthy company management system. The GCG KSP principles are referred to as follows:

1. Transparency

Company should provides enough accurate and on-time informations for all stakeholders to build transparency. One of positive effect from transparency is that all important parties, that connect with our company will know all the risks that might happen in transaction. Main implementation of transparent information which is:
  • Forming purpose, Company target and Company Strategy.
  • Annual Report.
  • Periodically Financial Report.
  • Other reports that need to be published.

2. Accountability 

Company fully aware about rights, duty, authority and responsibility to adapt accountability principal based on internal system check and balance that covers all audit practice. It also limiting power between the directors that controls daily operational and commissioner that represent stakeholders. These are main things that shows company accountability:
  • Establishing detail tasks, responsibility, authority from each subsidiaries should be synced with our vision, mission and company strategy.
  • Ensuring an effective internal controlling system to run the company.
    Measuring all the subsidiaries performance consistently by using reward system and penalty.
  • Ensuring all of the duties and responsibilities from each subsidiaries already align with company values (code ethics and code of conduct top management) that has been agreed.

3. Responsibility 

Company applying responsibility principal by ensuring how we manage our company align with policies and corporate principals. These are main things that shows company responsibility:
  • Company should pay attention and aware with condition and situation that grows well in society also pay attention to the company social obligation as part of the society.
  • Company should obey the law and policies that has been applied, including the rules that connect with environment, consumer protection, employment, tax, without monopoly practice and unhealthy competition, safety, and many more.

4. Independent

The company carries out the principle of independence by managing it professionally without conflict of interest and influence/pressure from any party. These are the main things in implementing the principle of independence:
  • Each part of the Company must avoid domination by any party, not be influenced by certain interests, free from conflicts of interest from any influence or pressure so that decisions can be made objectively.
  • Each part of the company must carry out its functions and duties in accordance with the articles of association and the prevailing laws and regulations, not dominating each other or shifting responsibilities to one another.

5. Fairness

The company applies the principle of fairness by adopting justice and equality in fulfilling the rights of stakeholders. These are the main things in implementing the principle of fairness:
  • Clarity for Shareholders rights, legal system and enforcement of regulations.
  • Regulations regarding contracts or consumer protection must be provided and can be enforced effectively so that every contractual relationship can be implemented effectively.
  • Law enforcement related to the prevention and eradication of corruption and bribery practices must be implemented in order to ensure that the company operates in a state free from corrupt practices and irregularities
  • Equal opportunity in recruiting employees, having a career and carrying out their duties professionally regardless of ethnicity, religion, race, class, gender, and physical condition.
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