Good Corporate Governance is a set of process and structure utilized by the Company’s instruments as a leverage for business achievement and Company’s accountability, in order to realize sustainable Shareholders value in the long term that takes into account the Stakeholders’ interests and the prevalent regulations and ethics. The Company’s Good Corporate Governance (GCG) Guideline means a management and monitoring process on a Company; this process comprises of division of duties, authorities and responsibilities for, particularly, the Shareholders, Board of Commissioners and Board of Directors. This guideline also serves as a consistent commitment from PT Semen Baturaja (Persero) Tbk in Company management.
The GCG Guidelines are composed based on the following purposes:
- To maximize Company’s values by improving the principles of Transparency, Accountability, Responsibility, Independency and Fairness for an enhanced competitiveness.
- To encourage a professional and transparent Company management and improve the Instruments’ independency.
- To encourage the Company’s instruments to draft up better resolution and implement corporate actions based on excellent moral values, compliance with the prevailing rules and regulations, and understanding on corporate social responsibility to the stakeholders and environmental preservation in the Company.
The implemented GCG Guidelines within the Company’s management refers to the prevailing regulations and best practices on Company’s management. In the future, these guidelines will be continuously improved, and its dynamic nature enables it to adjust with the latest GCG development and the changing direction toward strategic company management.
In implementing Good Corporate Governance, the Company adopts 5 (five) principles, namely :
This principle is adopted to emphasize on the transparency in performing decision-making process and in proposing material and relevant information about the Company. The Company shall provide adequate and accurate information in a timely manner for the stakeholders, so that the related parties, such as the stakeholders, Financial Services Authority (OJK), PT Bursa Efek Indonesia (BEI – Indonesia Stock Exchange/IDX), the employees, customers, distributors and other stakeholders, may notice possible risks and potential profit gain by performing transaction with the Company, as well as partaking in monitoring mechanism on the Company’s activities.
This principles explains the clarity of functions, implementation and responsibility of the Company’s instruments for an effective management and supervisory activities. Accountability reflects the mechanism of Internal Control application system which covers best practices. The Board of Directors is responsible in daily activities and the Board of Commissioners represents the Shareholders in managing the Company’s direction.
Responsibility refers to the implementation of Company management that complies with the prevailing rules and regulations and healthy Company principles, including meeting the Stakeholders’ rights, occupational health and safety and avoiding illegal business practice.
Independency refers to a situation in which the Company is managed professionally without conflicts of interest and intervention from other parties that is against the prevailing rules and regulations and the principles of healthy Company. Both the Board of Directors and Board of Commissioners shall be free of intervention from other parties in managing the Company and monitoring business activities respectively.
Fairness refers to the principle of equality in meeting the Stakeholders’ rights due to agreements and prevailing rules and regulation. The Stakeholders are granted protection, opportunity and fair treatment, as well as the rights to file claims upon any violation made against them.
This continuous implementation of GCG principles aims to generate sustainable growth as illustrated in the following chart:
The implementation of GCG within the Company’s environment is aimed to:
- Endeavor in maximizing the Company’s value by implementing the principles of Transparency, Accountability, Reliability, Responsibility and Fairness in order to generate high competency amid the challenges in similar sector.
- Encourage a Professional, Transparent and Efficient Company’s management, empower functions, and improve management independency.
- Encourage decision-making from management based on strong moral value, compliance with the prevailing rules and regulation, understanding on Corporate social responsibility to the Stakeholders and maintain harmony with the Company’s environment.
- Improve the Company’s contribution in National economy.
The Company’s GCG index score keep improving every year, and below is the Company’s GCG index score since 2010.
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Jl. Abikusno Cokrosuyoso Kertapati
Palembang – 30258
P.O. Box 1175 Palembang – 30001
Telepon : (62) – 711 – 511261 (Hunting)
Fax : (62) – 711 – 512126
Email : email@example.com
- Corporate Policy
- Board Manual
- Good Corporate Governance (GCG) Guidelines
- Code of Conduct (COC)
- Gratification Control Guidelines
- Whistleblowing System
- Charter of the Audit Committee
- Internal Control Unit Charter
- Charter of the Risk Management Committee
- Information Management Guidelines
- Conflict of Interest (COI)
- Risk Management Guidelines
- Policy Regarding Vendor Selection
- Nomination and Remuneration
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(62) – 711 – 511261