Good Corporate Governance


General Meeting of Shareholders

The General Meeting of Shareholders (GMS) is the highest authority in the management structure of the Company and has powers not possessed by the Board of Commissioners and Board of Directors. 

Based on the Company structure, the GMS is entitled to obtain all information about the operation of the Company and to request accountability of the Board of Commissioners and Board of Directors for the management of the Company.

The General Meeting of Shareholders (GMS) is a Company organ which has all the powers not delegated to the Commissioners and Directors. The GMS is a forum to which the Commissioners and Directors report and are responsible for the implementation of their duties and performance to the Shareholders.

The General Meeting of Shareholders consists of the Annual GMS and the Extraordinary GMS as stated in the Articles of Association of the Company. The Annual GMS shall be held once a year, no later than six months after the fiscal year ends. Meanwhile, Extraordinary GMS can be held outside the Annual GMS as needed by the Company.
Decision of 2020 EGMS
Agree to honorably discharge Mister Chai Chee Tak from the office as the Company Director and Mister Devarshi Das as Company Commisioner and extend the Company’s appreciation for his services.

while managing the Company as well as approve to grant full release and discharge over their lawful management and supervising activities to the extent that they are reflected in the financial statement of the Company.

Further to the honorably discharge above, agree to appoint Mister Denn Charly Gonzales Espanola, Amadeo Navalta Bejec, and Michio Katayama as the new Company Directors and Rodrigo Emmanuel Franco as Company Commissioner, thus effective at the conclusion of this Meeting, the composition of the Board of Directors and the Board of Company Commissiones are as follow:


Board of Director Commissioner
President Director : Omar Danni Hasan President Commissioner: A. Hermanto Dardak
Director : Ricky Camelien Commissioner: M. Ramdani Basri
Director: Anton Sujarwo Commissioner: Ahwil Loetan
Director: Joko Santoso Commissioner: Rodrigo E. Franco
Director: Denn Charly G. Espanola
Director: Amadeo Navalta Bejec
Director: Michio Katayama
Director: Francis Emmanuel D. Rojas
Director: Christopher Daniel Cabrera Lizo

Both AGMS as well as EGMS are the highest authority which is not granted both to the Board of Directors or Board of Commissioners. The Company always seek to ensure that the rights of the shareholders are constantly fulfilled as well as treat all shareholders equally. AGMS and EGMS are the rights and authority of shareholders which control the performance of the underlying subsidiaries within certain limits set by the legislation or Articles of Association. Decision made by AGMS and EGMS shall be transparent by taking into consideration the Company’s business interests. 

Decision of 2020 EGMS
First Agenda its Decision
To approve and ratify the Annual Report for the financial Year 2019 ending on December 31st, 2019 and to approve and ratify the Financial Statement of the Company for the financial year ending on December 31st, 2019   as audited by Public Accountant Office PURWANTONO, SUNGKORO & SURJA – ERNST & YOUNG.

Second Agenda its Decision
To approve and grant full release and discharge (acquit et de charge) to all members of the Board of Directors and Board of Commissioners of the Company of their respective lawful management and supervisory activities conducted during the financial year ending December 31st 2019 to the extent that their actions reflected in the Annual Report and Financial Statement of the Company.

Third Agenda its Decision
To approve total Net Profit for financial year of 2019 amounting to IDR 69,027,077,276,00 with considering the Company’s interests and its future development plans, to be allocated as follows:

- IDR 3,710,635,000,- to be allocated as mandatory reserves in accordance with Article 70 Company Law

- IDR 65,316,442,276,- to be allocated as other reserves in accordance with Article 70 Company Law which can be used for various needs of the Company including the Company’s future development, working capital, social, and future dividend payment.

Fourth Agenda its Decision
Approved to give authority to the Board of Directors to determine as the company's auditor for the 2020 financial year and the remuneration of the auditor.