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.
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:
GCG Implementation Quality Assessment
As in the previous year, in 2021 PT TIMAH Tbk will carry out a GCG assessment by appointing PT Cita Negeri Amanah (Subsidiary of IICD) as an Assessor. Based on 3 (three) assessment parameters used, namely ASEAN Corporate Governance Scorecard, Financial Services Regulation (POJK) No. 21/POJK.04/2015 concerning Implementation of Public Company Governance Guidelines and Decree of the Secretary of the Ministry of BUMN No. : SK16/S. MBU/2012. The results of the assessment carried out are as follows:
Achievement Assessment of GCG Implementation 2021
Score : 97,22
Decree of the Secretary of the
Ministry of SOEs
Score : 90,64
the Financial Services Regulation
(PJOK) No. 21/POJK.04/2015