The Company strives to improve the quality of GCG best practices implementation in a consistent and sustainable manner as a response to the changing business environment and to achieve sustainable business growth.
The Company developed structures and governance based on the GCG principles in accordance with prevailing laws and regulations and the Company’s best practices. The Company consistently implements the GCG principles of transparency, accountability, responsibility, independence and fairness, as described below:
- Transparency is applied in the decision-making process and disclosures of material and relevant information about the Company. The Company continuously provides correct, accurate and timely information to all stakeholders. The Company believes that it has properly and appropriately implemented the principle of transparency to avoid any conflict of interest among concerned parties. The publication of financial information has proven significant effects to the Company’s performance.
- Accountability refers to the clarity of function, implementation and accountability of each organ to allow effective management of the Company. All of the Company’s governance organs are based on the accountability principle with clear and systematic function, structure, and accountability. It is demonstrated in the management of the Company, which segregates duties and responsibilities, and clearly defines the functions, rights, obligations and authorities of each governance organ.
- Responsibility refers to the compliance of business management with the laws and regulations and sound corporate principles. The Company’s responsibility is proven through compliance with prevailing regulations, such as tax payments, industrial relations, protection of all employees through the implementation of occupational health and safety, and protection of the environment through the Company’s sustainable Corporate Social Responsibility (CSR) programs.
- Independence refers to the management of the Company in a professional manner that is free of conflict of interest and any influence from any party whatsoever that run contrary to prevailing laws and regulations and sound corporate principles.
- Fairness refers to fairness and equality in fulfilling the rights of all shareholders based on sound corporate principles.