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Company Regulations and Employee Code of Conduct that
the Company has established and implemented, and the application
of the Oracle Information System, are basically aimed
at systematically and consistently building a workforce
with a culture of Corporate Governance in carrying out
their respective functions, roles and responsibilities
within the Company. The existence of the Company Regulation
and Code of Conduct should prevent any conflict between
the interests of the individuals who work for the Company
and those of the Company's stakeholder. Further, the use
of the Oracle ERP system is intended to promote management
accountability, responsibility, and transparency for all
the Company's stakeholder.
To ensure compliance by all divisions
with the Company's system, procedures, and regulations,
the Company also has an Internal Audit section, responsible
directly to the President Director, to exercise the
function of internal audit of all divisions. Its audit
findings provide material to be analyzed by the Directors,
as well as the Board of Commissioners and the Audit
Committee, and to be followed up for corrections and
improvements in the future. The Internal Audit section
is headed by Manager, who is assisted by 3 Assistant
Managers, 2 Supervisors, and 6 Audit Staff.
Independent and professional cooperation
and synergy between the Directors and the Board of Commissioners
are critical to the Company's performance. The Directors
are responsible for the Company's management, while
the Commissioners are responsible for providing input,
guidance, and oversight to the Directors.
Prudence, thorough consideration,
and strict adherence to the principles of good governance
are constantly applied by both the Directors and the
Board of Commissioners to manage the Company in line
with its established Vision and Mission.
In order to carry out its duties
and responsibilities more effectively, the Company needs
to have Independent Commissioner in its Board of Commissioners.
In line with Capital Market Supervisory Agency (Bapepam)
regulations, the definition of an Independent Commissioner
is as follows :
- From outside the Company
- Holds no shares, directly or indirectly, in the
Company
- Has no affiliation relationship with the Company,
Commissioners, Directors, or the Company’s main
stakeholders
- Has no business relations, directly or indirectly,
associated with the Company’s business activities.
At present, the Company's Directors
consist of 4 professionals who have no affiliations
with the Company's main shareholders. The Board of Commissioners
is comprised of 1 Independent Commissioners and 2 Commissioners.
With the Independent Commissioners comprising 33.3 %
of the total membership of the Board of Commissioners,
the Company is confident that the Board of Commissioners
can exercise its functions and responsibilities professionally
and independently, so that the interests of all shareholders
and stakeholder are well protected. The composition
of the Board of Commissioners and of the Company Directors
can be found in About Us – Management section
of our website.
The management must take responsibility
for treating all shareholders equally, whether majority
or minority shareholders, local or foreign investors,
large or small. In addition, the management must ensure
that the Company complies with all applicable regulations,
including its own Article of Incorporation, government
regulations, and the relevant capital market regulations.
The management is also responsible for providing two-way
communication channels between the Company and external
parties and the public. To handle all these matters,
the Company has a Corporate Secretary; in 2008, this
position was held by Mr. Justian Sumardi.
The following are some of the activities
and publications handled by the Corporate Secretary
:
- Quarterly, semiannual, and annual financial report
- Public exposure
- Press releases
- Meetings with analysts, investors, and capital
market media
- Meetings with public shareholders
- General Shareholders Meetings
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