The implementation of GCG at PT TIMAH Tbk is fully supported by the commitment of all levels of the Company’s management, along with the active participation of employees and stakeholders, by instilling the principles of business governance not only as a basis and guidance in every decision making but also as a culture embedded in daily work behavior. All levels of PT TIMAH Tbk believe that the implementation of GCG will encourage the Company towards a more fundamentally healthy company and strengthen business competitiveness in a sustainable manner.
Governance Principles
The Company adheres to 5 (five) principles of Good Corporate Governance, namely TARIF: Transparency, Accountability, Responsibility, Independence, and Fairness, which cover all business operations and organizational elements.
Objectives of Corporate Governance
The objectives of GCG implementation at the Company as stipulated in the Articles of Association are:
- To maximize the Company’s value for the Shareholders while taking into account the interests of other stakeholders;
- To improve the competitiveness of the Company, nationally and internationally, and to encourage sustainability within the Company through management based on transparency, independence, accountability, responsibility, as well as equality, and fairness;
- 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 organs;
- To encourage the Company’s organ in making decisions and carrying out actions based on high moral values and compliance with the prevailing laws and regulations;
- To control and direct the relationship between the Company’s organs;
- To encourage awareness of the existence of the Company’s social responsibility towards stakeholders as well as the conservation of the Company’s surrounding environment; and
- To improve market trust to strengthen investment flows and boost the growth of the national economy in a sustainable way.
