In accordance with Law No. 40 of 2007 on Limited Liability Companies and the Capital Market Law in Indonesia, the structure of Good Corporate Governance is outlined in our governing bodies, which include the General Meeting of Shareholders (AGMS), the Board Commissioners and the Board of Directors.
The General Meeting of Shareholders holds the highest authority within the company. The Board of Commissioners and the Board of Directors report to the GMS. These 3 independent bodies are responsible for establishing a solid corporate governance framework and overseeing its implemention with support from the Corporate Secretary, Audit Committees and the Nomination and Remuneration Committee under the Board of Commissioners.
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The Internal Audit Unit has a function that carries out independent and objective assurance and consultation activities aimed to increase the value and improve the Company’s operations through a systematic approach by evaluating and improving the effectiveness of risk management, controlling and corporate governance processes undertaken by the Company in conducting its business activities.
In accordance with regulation No.35/POJK.04/2014 regarding Corporate Secretary, our Corporate Secretary has major role to facilitate the communication between the Company’s organs, as well as responsible to compose policies, planning and ensure effectiveness and transparency in corporate communication, institutional and investor by maintaining standard principles of corporate governance, and corporate values. Besides, Corporate Secretary is required to ensure corporate conformity on laws and regulations in capital market.
Audit Committee has been established by the Board of Commissioners as a support to the Board of Commissioners and works independently, free from the intervention of management and other influences, and has the function of overseeing the Company in conducting its activities in compliance with applicable laws and regulations, adhering to ethical values and principles and the principle of transparency.
The Board of Commissioners has established a nomination & Remuneration Committee to support the Board of Commissioners. The Nomination & Remuneration Committee is responsible for providing recommendations to the Board of Commissioners and conducting performance evaluation.
