BOARD OF DIRECTORS

The Board of Directors is responsible for the Company’s operational activities as regulated in the Company’s Articles of Association, Law No. 1 Year 1995 concerning Limited Liability Companies as amended by Law No. 40 Year 2007 and Law No. 8 Year 1995 concerning Capital Market and its implementing regulation.

Duties and responsibilities of the Board of Directors, among others consist of:

  • Directing, managing and operating the Company in accordance with the purpose of the Company through controlling, maintaining and developing the Company’s assets;
  • Carry out their duties and responsibilities in good faith for the benefit of the Company and ensure the Company conduct its social responsibility;
  • Implement the GCG and monitor its implementation in the Company and its subsidiaries;
  • Conducting an effective internal control system to secure and control the Company’s Company’s assets and investments;
  • Develop and implement the management business risk in the Company and subsidiaries.

The broad scope of Board Directors’authorities, among other, consist of the following:

  • Represent the Company inside and outside of court in all matters and at any events bring the Company to enter into an agreement with another party, performing all actions, both regarding the management and ownership, with the restrictions set forth in the Articles of Association and by taking into account the applicable laws and regulations;
  • Without relieving Directors of their responsibility, Directors have the right to appoint or delegate to an authorized person who can act on certain duties, on behalf of a particular Director based on the power of attorney issued by the delegating Director;
  • Conduct corporate legal actions to transfer, to waive the right of or to encumber the entire or a significant portion of the Company’s assets more than 50% (fifty percent) of the net value of the Company’s assets in a single or several transactions, which may or may not be interrelated transactions, the Board of Directors must secure approval of General Meeting of Shareholders (GMOS), certain conditions as stated in the Chapter 14, Article 3 of the Company’s Article of Association, except all transfers or encumberances of Company’s assets in line with the Company’s operation based on the Company’s article of Association.