The Company is committed to consistently and continuously implement the Good Corporate Governance in all its conduct of business. The implementation is set to be a guide as well as the foundation in anticipating business challenges along with the changing of current business climate, national economic and political conditions.
The objectives of implementing corporate governance are as follows:
- Optimizing the Company’s values for shareholders maintaining awareness of stakeholders’ interests as well as encouraging business sustainability through implementation of Good Corporate Governance principles, which promotes among others: transparency, accountability, responsibility, self-sustainability, fairness and equity;
- Encouraging Company’s management to be more focus, professional, efficient, effective as well as empowering and improving the self-reliance of Company’s business unit;
- Encouraging every employees in making decision and implementing any action based on ethics, values and in compliance with the Articles of Association, Company’s Regulation and prevailing government rules and regulations;
- Supporting internal control which is implemented consistently and continously;
- Encouraging and supporting the development of Company’s resource and risk management through prudent, accountable and responsible deployment of the Company’s resources in accordance with the Company’s principles and policies on Good Corporate Governance;
- Improving work attitude and employee morale in achieving the Company’s objective;
- Promote and conduct mutual and condusive relationship between shareholders, Board of Commissioners and Directors, employees and stakeholders;
- Increasing the Company’s image in achieving strong competitiveness in both national and international stage in order to be able to maintain sustainable existence and going concern.
The principles of Corporate Governance are the following:
Transparency is openness in expressing relevant material information regarding Company’s activities.
The framework of Company’s Governance must be able to assure the guidance for Company’s strategy along with effective management monitoring by the Board of Directors as well as their accountability to the Company and shareholders are carried out. Therefore, the accountability is the clear function, implementation and responsibility of each organ and all management levels in the Company for running the Company effectively. Accountability is implemented through determining responsibilities of each departement in the Company as well as their duties and authorities. In addition, the accountability principle also determines the logical consequence of the difference between individual interest and Company’s interest as well as Company’s interest with other related parties.
Fairness is an equal treatment to fulfill the rights of all shareholders and stakeholders that arise under agreements or regulations.
Conformity the Company’s activities with the applicable rules and regulations and Good Corporate Governance priciples and responsibilities to comply with the applicable rules and laws including any matters which related with manpower, taxes, business competition, health and working security and others. Good Corporate Governance must be able to admit the rights of stakeholders as stipulated by the law.
Independency is a condition that Company is managed professionally without any conflict of interest or influence and pressure from any parties. This independency is implementend by always upholding the rights and obligations, duties and responsibilities as well as authorities of each Company’s organ. Optimizing independency may bring the optimum establishing policies and result of the Company.