Good Corporate Governance Basic Principles
Good Corporate Governance (GCG) constitutes a set of systems that regulate and control business entities to create added value for all stakeholders, including shareholders. There are 2 (two) points of emphasis, namely the importance of the right of shareholders and even minority shareholders to promptly obtain correct information, as well as the obligation of business entities to make accurate, timely and transparent disclosures of information on all business entity performance, ownership and stakeholders. T GCG is expected to provide a foundation for managing accountable business entities.
In line with the business world development, the principles of GCG have also evolved with a system of supervision and control that supports work ethics and responsible decision making, supports integrity in financial reporting, proper risk management, and stakeholder relations and the Company based on ethics. Within the scope of the Company, an assessment is carried out on the implementation of GCG to ensure the realization of GCG principles comprehensively.
In its development, the Regulator together with various parties that have paid attention to the development of GCG in Indonesia have provided a strong affirmation of the importance of a harmonious relationship between business entities and stakeholders. Through this harmonious relationship, it is expected that a business world will be formed which avoids the ways of creating instant profit, and can actually contribute to the surrounding social and environmental dimensions.
Good Corporate Governance is based on GCG principles, namely Transparency, Accountability, Responsibility, Independence and Fairness, which are a strong commitment for the Company to always maintain and enhance the value of the company (corporate value), encourage the management of a professional, transparent and efficient company. so that the fundamentals and competitiveness of the Company are getting stronger and better maintained.
Each organ of the Company performs its functions properly, the Board of Commissioners carries out its oversight function on the management policies, the management of the Company, and the Company's business is conducted by the Directors, as well as advising the Directors. The Board of Directors executes its collegial duties in carrying out the Company's teaching and is accountable to the GMS as a manifestation of the Company's management accountability in accordance with the principles of corporate governance.
GCG IMPLEMENTATION OBJECTIVE
To create a company that is highly competitive and continues to grow, the Company develops the structure and system of Corporate Governance in accordance with the principles of GCG, with the aim of:
- Optimizing the value of the Company to build strong competitiveness both nationally and internationally, in maintaining ethics and integrity in order to maintain existence and sustainable growth in the face of the free trade era of the ASEAN Economic Community (AEC);
- Encouraging professional, efficient and effective company management as well as empowering functions and increasing the independence of the organs in the company;
- Providing a guarantee of security so that it will foster the trust of investors and potential investors;
- Directing and controlling work relationships between the Company's organs;
- Encouraging that every decision-making and its implementation must be based on high moral values and in accordance with applicable laws and regulations and high social responsibility;
- Creating professional human resources;
- Improving the welfare of all Elnusa Individuals and increasing the benefits for Stakeholders;
- Preventing irregularities in the management of the Company;
- Improving the Company's Work Culture;