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Board Manual

The relation between the Board of Commissioners and the Board of Directors in the Indonesian legal system is a relation based on the two tier system principle. It means that the company is led and managed by the Board of Directors, while the Board of Commissioners oversees and provides advice on the actions of the Board of Directors. The relation is check and balances independent with the principle that the two organs have equal standing in order to achieve the ultimate goal for the advancement and health of the Company. Both the Board of Directors and the Board of Commissioners are 2 (two) separate and independent corporate organs. The Board of Commissioners and the Board of Directors each have competency and responsibilities in accordance with the responsibilities mandated in the Articles of Association and the fiduciary responsibility. However, both have a responsibility to maintain the company’s long-term sustainability. Therefore, the Board of Commissioners and the Board of Directors must have the same vision, mission, values ​​(values) and corporate strategy. Good corporate governance based on the principles of Good Corporate Governance (GCG) requires clarity of the system and structure concerning the relation between the organs of the company. The authority, duties, working relations of each company’s organs are clearly defined and executed consistently. Therefore, it takes a guide that can be a common reference in the implementation of the duties of the company’s organs.