Success through Good Corporate Governance

In line with the change in the company's status to a State-Owned Enterprise, Good Corporate Governance is mandatory to be adequately implemented in the company in accordance with the Regulation of the Minister of State-Owned Enterprises PER-01/MBU/2011 concerning Implementation of Good Corporate Governance in Business Entities State Owned. This implementation also plays an important role in achieving the Company's Vision and Mission. Every business activity must comply with the Corporate Governance Policy specifically designed to optimize Company Value. Not only compliance with Regulations but the principles of Good Corporate Governance are also adopted into the corporate culture to protect stakeholders' interests.

 

Transparent governance for trust and accountability 

We are committed to continuing and consistently implementing Good Corporate Governance in all business aspects to improve the company's performance for sustainability in today's highly competitive and dynamic business era. Stakeholders expect better corporate governance, enhancing the company's business based on transparency, accountability, responsibility, independence, and fairness.

Ethical Practices Driving Responsible Decision-Making

In its implementation, the company has issued several GCG soft structures, such as:

  • GCG Manual
  • Code of Ethics
  • Charter of the Board of Commissioners and Directors
  • Decision of the Board of Directors regarding Gratification, Whistleblowing System and LHKPN

GCG is a company that needs to achieve added value for Shareholders and Stakeholders as well as to increase the company's competitiveness. Therefore, the company has issued GCG Guidelines as a guide in determining and implementing Company policies.

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The Code of Ethics is the foundation for carrying out duties and responsibilities for GCG implementation. This code is designed to ensure that all levels of corporate positions commit to GCG principles. This commitment is manifested in writing at the signing of a document called the "INALUM Personnel Commitment Declaration". This code continues to be disseminated to all INALUM personnel to provide a better understanding of the Code of Ethics. Furthermore, every INALUM employee must sign a commitment statement to implementing GCG. This code also explains the provisions for every INALUM employee in interacting and having ethics internally and externally.

PDF - Download INALUM's GCG Guidelines PDF - Download the INALUM Code of Conduct

The company has issued the Charter of the Board of Commissioners and Board of Directors. This charter was created as a guide in carrying out duties and responsibilities based on GCG principles.

1. Charter of the Board of Commissioners Charter of the Board of Commissioners' Work Procedures in carrying out its duties and functions, the Board of Commissioners is guided by the Board of Commissioners' Charter, which was updated on December 22, 2015. This charter was prepared based on the principles of Company law, applicable laws, provisions of the Articles of Association, provisions of the General Meeting of Shareholders, and GCG principles.
The Board of Commissioners Charter that INALUM has contains the legal bases used; membership, term of office, provisions regarding concurrent positions, filling in members of the Board of Commissioners, dismissal by the GMS, resignation of members, a program for introducing new members of the Board of Commissioners; duties, authorities, obligations, policies on the division of tasks among members, guidelines for decision-making of the Board of Commissioners, rules of procedure for meetings and decision-making mechanisms, supporting organs including the Secretariat of the Board of Commissioners and the Audit Committee, as well as training and learning programs for the Board of Commissioners. On December 22, 2015, the Board of Commissioners updated the Work Guidelines for the Board of Commissioners. The main changes are mainly in improving the policies of the Board of Commissioners in supervising and providing advice on the policies of the Board of Directors regarding risk management, internal control units, accounting and financial reporting aspects, quality and service, procurement of company goods and services, management and development of human resources including levels HR career, follow-up GCG assessment, and others. In line with the company's plan to carry out business development through Subsidiaries, the Board of Commissioners has also added policies on supervising the management of Subsidiaries/Joint Companies and proposing Directors and Board of Commissioners of Subsidiaries/Joint Companies.

PDF - Download the Charter of the Board of Commissioners

2. Board of Directors Charter The Board of Directors Charter was ratified in 2014. It was drafted so that the duties and authorities and the working mechanism of the Board of Directors can run efficiently, effectively, and consistently while still paying attention to GCG principles. The objectives of this charter are:

  1. The duties and responsibilities of the Board of Directors and the working relationship between the Board of Directors and the Board of Commissioners are clearer.
  2. Make it easier for organs under the Board of Directors and organs under the Board of Commissioners to understand the duties and responsibilities of each as well as the relationship between these organs.

INALUM's Board of Directors Charter contains, among others: the legal basis, basic principles and procedures for working mechanisms/relationships with the Board of Commissioners, provisions for the positions of members of the Board of Directors, duties and authorities of the Board of Directors, including the authority of the Board of Directors and Main Director who must obtain approval from the Board of Commissioners and/or GMS, obligations, provisions for preparing and submitting the Company's Long Term Plan and Work Plan and Company Budget, Risk Management and Internal Control System, Board of Directors meetings and decision making, supporting organs of the Internal Audit Unit (SPI) and Corporate Secretary, relations with subsidiaries, introduction program Company, and other provisions governing the Board of Directors in carrying out their functions.

PDF - Download the Board of Directors Charter

The Board of Commissioners (BOC) consists of 4 (four) people who have collective duties and responsibilities to monitor and advise the Board of Directors and ensure the implementation of GCG in the Company. As for the Board of Directors (BOD) consists of 5 (Five) people who have full responsibility for the Company's operations for the benefit of the Company. The BOD includes the President Director, Business Development Director, Executive Director of Operations and Production, Finance Director, and Executive Director of Human Resources. Also, no less important is the Audit Committee which is a supporting organization of the Board of Commissioners that serves to support the achievement of the duties of the Board of Commissioners. The Audit Committee plays an independent role in carrying out its duties and is directly responsible to the Board of Commissioners.

PT Indonesia Asahan Aluminum is committed to implementing gratification control to support efforts to eradicate corruption within INALUM. This commitment is realized by the issuance of a Statement of Commitment to Implement Gratification Control which contains the basic principles of PT INALUM, a statement that the company will always implement and carry out the gratification control function, prepare a budget for the implementation of gratification control, provide human resources as gratification control implementers, and cooperate with The Corruption Eradication Commission to keep the reporter's data confidential.