Good Corporate Governance
GCG or Good Corporate Governance is a set of policies in a management of companies that harmonize relationships between stakeholders based on GCG principles: transparency, accountability, responsibility, independence and fairness that result a decision that could be accounted. With the implementation of GCG, decision-making can be accomplished effectively and efficiently and based on the high moral values and adherence of laws.
Each operation of the Company is done in line with the best practice standard that applied in forestry sector.
The implementation of GCG principles are applied according to Law No. 40 of 2007 on Limited Liability Companies Act No. 8 of 1995 on Capital Markets, the Articles of Association, Rules of the Financial Services Authority (POJK) No. 21 / POJK.04/ 2015, Indonesia stock exchange rules, as well as other relevant laws and regulations.
The Company also adheres to good corporate governance principles imposed by the Organization for Economic Co-operation and Development (OECD) as well as Indonesia’s General Guidelines on GCG.
CORPORATE GOVERNANCE STRUCTURE
Corporate Governance Structure of The Company is broadly illustrated on the Company’s main organs, namely:
- General Meeting of Shareholders
- Board of Commissioners
Implementation guidelines of the principles of GCG detailed in the Articles of Association that defines the roles and responsibilities of the Board of Commissioners and Directors and other Company’s organs. Besides, the guidelines arrange Employees ethics, how they carry out the functions and duties effectively, how they interact with each other, and the main tasks of each committee.