GCG Structure & Policy
The Company has adopted Good Corporate Governance (GCG) practices with consistent implementation. Since its establishment, the Company has made GCG as a standard guideline in business management based on the principles of transparency, independence, accountability, responsibility, and fairness.
The Company has consistently implemented GCG principles by referring to Law No. 8 of 1995 regarding Capital Market; Law No. 40 of 2007 regarding Limited Liability Companies; OJK Regulation (POJK) No. 21/POJK.04/2015 regarding Implementation of Public Company Governance Guidelines; OJK Circular Letter (SEOJK) No. 32/SEOJK.04/2015 regarding Implementation of Public Company Governance Guidelines; POJK No. 29/POJK.04/2016 regarding Annual Report of Issuers or Public Companies and SEOJK No. 30/SEOJK.04/2016 regarding Form and Content of Annual Reports of Issuers or Public Companies.
The implementation of GCG principles in the Company’s environment can be described as follows:
|Transparency||Principle of Transparency has been applied in decision making, delivery of relevant and material information about the Company for all stakeholders’ interest.|
|Independence||AGI is professionally managed without influence from any parties and/or any conflicts of interest, which are not in accordance with GCG rules and principles.|
|Accountability||The Company has the ability to manage operations effectively due to the clarity of functions, positions and responsibilities of the Company’s executives, and based on the Company’s strategic objectives, and effective supervision of the Board of Commissioners with its accountability to the Company and shareholders.|
|Responsibility||In carrying out the Company, AGI management is fully responsible for all executive and management decisions, and responsible for maintaining compliance with the rules and Company’s good operational principles.|
|Fairness||The Company’s policy is in line with the principles of fairness and equality according to the stakeholders’ rights arising from the agreement and applicable laws and regulations. In addition, AGI also has complete GCG infrastructures such as Company’s Articles of Association, Charter of the Board of Commissioners, Charter of the Board of Directors, Corporate Code of Ethics, and Charter of Internal Audit.|
In accordance with Law No. 40 of 2007 regarding Limited Liability Companies, the Organ of the Company consists of the General Meeting of Shareholders (GMS), Board of Commissioners, and Board of Directors. In carrying out its duties, the Board of Commissioners is assisted by the Audit Committee, while the Board of Directors is assisted by the Corporate Secretary and Internal Audit Unit. In carrying out its functions in accordance with the provisions of legislation, these Organs become the determinant of successful implementation of GCG principles.