GCG Statement & Commitment
Telekomunikasi Indonesia International (TL), S.A. commitment to implementing GCG is shown by the issuance of the Board of Directors’ Decree on GCG Guidelines No.29/2007 and GCG Group Guidelines No.602/2011. The Board of Directors’ Decree contains several GCG implementation systems to ensure that GCG has been implemented for both ethical internal and external transactions and in accordance with good and correct corporate governance practices. The GCG implementation system in question includes business ethics, policies and procedures, risk management, internal control and supervision, leadership, management of duties and responsibilities, empowerment of management and employee competence, performance evaluation, and rewards and recognition. The commitment to implement GCG principles at every level of the company’s operations in a planned, directed, and measurable manner also covers all levels of management up to the executive level so that the implementation of GCG best practices takes place consistently.
Purpose of GCG Implementation
Telin TL implements governance best practices with several objectives, including:
- Maximizing corporate value and value for stakeholders. Encourage professional, efficient, and effective management of the company.
- Empowering functions and increasing the independence of corporate organs.
- Pay attention to the company’s responsibility to the social conditions of the community and the surrounding environment.
- Increase the company’s contribution to the national economy.
- Improve the national investment climate.
GCG Framework
The implementation of good corporate governance (GCG) is one of the important provisions in realizing the vision and mission as well as the sustainability of the company’s business. The application of GCG principles in the management of every company is useful for maintaining business performance, increasing company value, and maintaining the company’s existence in global business competition. Telin TL implements four main pillars to encourage GCG in the company:
- Implementation of business ethics, which contains the company’s cultural values, which are annually communicated and surveyed for understanding by employees;
- Effective management of operational policies and procedures in accordance with business demands, as a guideline for the management of the company and as a guide for employee work;
- Implementation of integrated risk management based on COSO Enterprises Risk Management; and Internal supervision and implementation of COSO-based internal control Internal control is mainly internal control over financial reporting.
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