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GCG

Good Corporate Governance

PT PANN has committed seriously to apply good company management as an effort to achieve business success and has a wide effect on the national economic development from the maritime sector, specially through the development of the national trading armada.

Since its establishment, PT PANN (Persero) has played an important role in the development of the maritime industry, particularly in the shipping sector until the company has transformed to become one oof the hopes for the maritime industry. On account of this, the application of good company management became something not to be bargained with or delayed.

In developing and applying the principle of good company management, management refers to best-practice standars within the confines of company work environment enriched by looking at the sector that has made the company as the foothold which hopefully can fulfill the interests of all stakeholders evenly and increase continued opportunity for the company.

All this time, PT PANN has committed seriously to apply good company management as an effort to achieve business success and has a wide effect on the national economic development from the maritime sector, specially through the development of the national trading armada.

OBJECTIVE OF GOOD CORPORATE GOVERNANCE

For PT.PANN (Persero), the application of GCG constitutes the manifestation of company compliance to the decree of Minister of BUMN (State Owned Company) No.Kep-117/M-MBU/2002 regarding application of GCG practices in State Owned Companies, simultaneously constitutes the best way for realizing the objective as wanted to be achieved by the company.

PT.PANN (Persero) realizes that for applying good corporate governance consistently requires seriousness.

Applying good corporate governance in PT.PANN (Persero) has a main objective for:

  • Providing adequate protection and fair treatment to the shareholders, management, and other stakeholders, through the increase of shareholders value in a maximal way.
  • Providing contribution maximally to the improvement of financing service as managed.
  • Improving and safeguarding the image of company through primary service in the sector of financing services.
  • Safeguarding the source of fund as owned and used for company business.

 

PRINCIPLES OF GOOD CORPORATE GOVERNANCE

PT.PANN (Persero) as one of State Owned Companies has committed to keep on increasing company value through the application of the principles of good corporate governance in its implementation. So far those principles have been instilled and implemented by the whole rank and file of the company board of directors and employees.

Good corporate governance as applied by PT.PANN (Persero) is following five main principles, namely:

  • Transparency

Good Corporate Government is determined by intention, policy and action of company management for applying transparency in implementing the process of decision making and transparency in forwarding information which is material and relevant to company condition. The implementation of transparency principle in PT.PANN (Persero)

  • Responsibility

 

Good Corporate Governance within the organization of PT.PANN (Persero) is characterized by the clarity of function, the implementation and responsibility of organ, so that the company management is implemented effectively.

 

  • Responsibility

Within the organization of PT.PANN (Persero) it is also characterized by the intention and commitment in managing the company as prevails and the principles of sound corporation. The implementation of responsibility principle in PT.PANN (Persero)

  • Independency

Status and working method must drive the occurrence of objective decision making and free from intervention of certain parties which do not represent company interest in all stakeholders fairly. Implementation of independency principle in PT.PANN (Persero)

  • Justice

Good Corporate Governance with the organization of PT.PANN (Persero) is reflected from the intention and commitment of management for fair and equal treatment the rights of the stakeholders as arising based on the agreement (written commitment) and prevailing laws and regulations