GCG Implementation

As a Public Company listed on the Indonesia Stock Exchange (IDX), the implementation of Good Corporate Governance is an important indicator for Shareholders to assess the Company’s performance and to believe that The Company has been wellmanaged and appropriately and believed to be able to protect the interests of the Shareholders.

PT TIMAH Tbk is fully committed to making GCG the basis for every decision making in the Company. PT TIMAH Tbk applies the principles of governance in every business activity that is carried out in order to produce Good Corporate Governance as this greatly affects the continuity of the Company’s long-term efforts. PT TIMAH Tbk also believes that the implementation of GCG can improve the efficiency, effectiveness and sustainability of the Company and will contribute and add sustainable value to Shareholders, Employees and other various Stakeholders both for short and long term.

As a form of corporate responsibility in ensuring the implementation of GCG in the corporate environment and  based on the Board of Direktor Instruction No. 047/TBK/ INST-0000/2013-B1 on The Preparation of a Report on The Implementation of Good Corporate Governance (GCG) system, starting from 2015, the socialization of GCG routinely and continuously to all employees in the Company. The socialization of GCG activities in cooperation with training P2SDM which was  held at the time of P2SDM held training classes to the employees, then the socialization of GCG will be included as one of the agenda for the participants.

Achievment  Assesment of GCG Implementation

Score : 90.02
Predicate : Very Good

Decree Parameter
Ministry of State-Owned 
Enterprises
Number : SK-16/S.MBU/2012

Score : 83.65
Predicate : Good

Parameter
ASEAN
Corporate
Governance

20 Comply and 5 Explain
Parameter

Parameter the Guidelines
for Governance of Public 
Companies
Financial Services Authority

83,20
“INDONESIA TRUSTED”

Corporate
Governance
Perception Index 
(CGPI)

 

The objectives of the Corporate Governance implementation of PT TIMAH Tbk have referred Corporate Governance practices as well as prevailing laws and regulations as follows:

  1. To maximize the Company’s value for the Shareholders while taking into account the interests of others stakeholders. 
  2. To improve the competitiveness of the Company, nationally and internationally, and to encourage sustainability within the Company’s through management based on transparency, independence, accountability, responsibility as well as equality and fairness. 
  3. To encourage professional, transparent, and efficient  management of the Company, as well as to empower each function and improve the independence of each of the Company’s organ. 
  4. To encourage the Company’s organ in making decision and carrying out actions based on high moral values and compliance to prevailing laws and regulations.
  5. To control and direct the relationship between the Company’s functions. 
  6. To encourage awareness of the existence of the Company’s social responsibility towards stakeholders as well as conservation within the Company surrounding environment.
  7. To improve market trust to strengthen investment flows and boost the growth of the national economy in a sustainable way.