The implementation of good corporate governance does not rely solely on the organizational structure but is also supported by GCG supporting documents or soft structures. These documents serve as a reference to ensure that all business processes are carried out by the principles of transparency, accountability, responsibility, independence, and fairness. Key supporting documents include the Board Manual (Guidelines for the Board of Commissioners and Board of Directors), the Corporate Governance Manual, the Company Code of Ethics, and the Whistleblowing System.
The Company also has a code of conduct policy that regulates conflict of interest management, the obligation for the Board of Commissioners and Board of Directors to abstain from discussions of specific agenda items in the event of a conflict of interest, as well as provisions regarding the giving and receiving of gifts or donations, compliance with regulations, confidentiality of information, and mechanisms for reporting unethical behavior.
In building partnerships with creditors and investors, the Company upholds the principles of transparency and accountability through the following:
Providing up-to-date and prospective information to potential creditors/investors, including the use of funds;
Selecting creditors/investors based on credible and accountable qualifications, free from fraud, corruption, collusion, and nepotism (KKN);
Receiving loans/investments through legally binding agreements with clauses that prioritize fairness;
Consistently disclosing information on fund utilization to build trust with creditors/investors;
Upholding the principles of prudence, selectivity, competitiveness, and fairness in choosing funding sources;
Ensuring both financial and non-financial information is presented to creditors in an accountable manner;
Committing to fulfilling every contractual agreement made with creditors.
As part of good governance practices, the Company ensures that all scheduled meetings of the Board of Commissioners and Board of Directors are accompanied by meeting materials, which are distributed to participants no later than five (5) days before the meeting.
The Board of Directors prepares the Corporate Work Plan and Budget (RKAP) as the annual elaboration of the Company’s Long-Term Plan (RJPP). The Board of Commissioners conducts a review and provides its opinion on the RKAP prepared by the Board of Directors before joint approval. The draft RKAP, duly signed by all members of the Board of Directors, shall be submitted to the Board of Commissioners no later than thirty (30) days before the commencement of the new fiscal year, or by the prevailing laws and regulations, to obtain the approval of the Board of Commissioners.
Following are Soft Company Structure Publications:
