Board of Commissioners commits to carry out its duties and responsibilities, utilizes the rights and fulfills its obligations independently without the conflict of interests that may be detrimental to the Company and other stakeholders.
Based on the AGM of May 22, 2014, the composition of the Board of Commissioners and Independent Commissioners during the 2014 fiscal year is as follows:
The roles, main duties, powers, and obligations of the board of commissioners concerning are stipulated in the articles of association. Each member of the board of commissioners must read and comply with the provisions. The Board of Commissioners’ obligations are as follows:
Referring to Article 10 paragraph (5) of the Company’s Articles of Association, Board of Directors carries out its duties independently and there is no interference from other parties opposed to laws and regulations. Among the members of Board of Directors and between members of Board of Directors and Board of Commissioners there are no family relationship, either direct family relationship or family relationship due to marriage.
Board of Directors meetings is held through a direct meeting with the members of Board of Directors. Matters which are generally discussed at Board of Directors meetings include the performance and development of the Company, both financially and operationally. The meeting also serves as a forum where every member has the right to voice their opinions in order to reach a collective decision.
Along with the dynamic development of the Company over the years, the Company ensures that the risk management system applied is able to identify, mitigate and monitor the business risks that may affect the company’s performance. Application of risk management systems that is accurate and intensive is expected to provide sustainable benefits as follows:
Some of main risks that give significant impact on the Company’s business activities are:
|Risk Profile||Risk Mitigation|
To guide the management and employees in carrying out sound business ethics, the Company has adopted an Anti-Corruption Policy that is applicable to Company’s Board of Commissioners, Board of Directors and all employees without exception. This policy is determined based on the Decree of Company’s Board of Directors dated August 27, 2012. The Company also appointed a Compliance Manager to ensure the Anti-Corruption Policy is enforced properly. Principles of the Anti-Corruption Policy, among others:
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