Good Corporate Governance (GCG) is the underlying principle of a process and mechanism in directing the company’s business management to improve success and maintaining business continuity so as to realize the value of shareholders in the long term while taking the interests of shareholders and other stakeholders into account, in accordance to business laws and ethics.
Along with the commitment of the company to implement GCG consistently and continuously, the company has already possessed several supporting tools as a guideline for the implementation of GCG, such as visions and missions as well as corporate values, corporate rules and various long-established Standard Operating Procedures.
Company’s transparency in the decision-making process and relevant material information about the company disclosure, is an easily-accessible and understandable way for share-holders and stake holders to get a hold of any information about the company.
Clarity regarding function, structure, system and implementation as well as accountability of corporate organs, is absolutely necessary for the effective, true, and measurable implementation of enterprise management, and in line with the interests of the company without ruling out share-holders’ and stake-holders’ concerns. The obligation of corporate organs related to exercising the authority one possesses and/or executing the responsibilities entrusted by the company is the basic element of corporate accountability.
Compliance to the legislation and authorities’ regulation as well as the fulfillment of responsibilities to the community and the environment, is a long-term company-sustainability-factor which has been continuously being preserved by the company. The company is, as well, constantly striving to ensure that its business existence is beneficial to the community around it business environment by providing jobs-employment and implementating various social-responsibility programs (Corporate Social Responsibility).
Companies must be independent, objective and professional in decision making and policy-making for the benefit of the company without any dominance, conflict of interest, and influence/pressure from any party. Thus the decisions taken can provide optimal output for share-holders’, stake-holders’ and employees’ interests. As a manifestation of independence, the company has appointed a number of independent, highly-reputable parties as the members of Boards of Commissioners and Directors and provide the maximum authorities available for the audit committee of the company in supervising the its business activities.
The company will continuously provide equal and reasonable treatment to each share-holders and stake-holders interests under the agreement and in accordance to applicable laws and/or regulations as well as taking the benefits and contributions share-holders and stake-holders have given to the company into account.