Corporate Governance

Code of Business Ethics & Code of Conduct

1. Company Ethics with Employees

PT SUCOFINDO treats employees without distinction of gender, ethnicity, religion, and race in all aspects. PT SUCOFINDO realizes that employees have a significant role and position in achieving the Company’s goals. Every employee is required to participate and play an active role in increasing work productivity through dynamic, harmonious, and balanced relationships between the Company and its employees. Companies in this case:

  • Allow employees to associate and form or become members of employee unions.
  • Place the Employee Union as a partner of the Company.
  • Make the Collective Labor Agreement (“PKB”) a reference containing working conditions to regulate and protect the rights and obligations of employees.
  • Implement Collective Labor Agreements (“PKB”) consistently.
  • Ensure that every employee knows and understands the applicable CLA.
  • Protect the right of employees to choose or not to become a member of the employee union.
  • Implement performance-based management and reward employees proportionally.

2. Company Ethics with Customers

PT SUCOFINDO prioritizes customer satisfaction and trust by:

  • Selling products in accordance with customer requirements and established quality standards.
  • Open customer service and follow up on customer complaints without discriminating against customers.
  • Conduct marketing, among others, in the form of continuous promotion, in a healthy, fair, honest, not misleading, and following the norms accepted by the community.

3. Company Ethics towards Competitors

PT SUCOFINDO places competitors as drivers of improving company performance by:

  • Conduct market and competitor research to obtain an overview of the Company’s relative position among competitors in similar industries.
  • Conduct healthy competition by prioritizing the excellence of quality products and services.

4. Company Ethics towards Suppliers

PT SUCOFINDO creates a fair and transparent competition in the procurement of goods and services by:

  • Assign Suppliers based on capabilities and achievements.
  • Make payments to suppliers on time and in the right amount.
  • Give strict sanctions to Suppliers who violate procurement agreements/contracts.
  • Maintain good communication with Suppliers, including following up on complaints and objections.
  • Applying technology in the procurement of goods and services.

5. Company Ethics towards Partners

PT SUCOFINDO enhances the mutual trust, respect, and fosters togetherness with Business Partners by applicable business principles by:

  • Conduct risk and benefit analysis before entering into a cooperation agreement.
  • Make a balanced work agreement that does not violate the rules or procedures.
  • Prioritize the achievement of optimal results under applicable and best standards.
  • Build intensive communication with Business Partners to achieve the best solution to improve performance.

6. Company Ethics towards Creditors/Investors

PT SUCOFINDO accepts loans/investments only for business purposes and to increase the Company’s added value by:

  • Conduct risk and benefit analysis before entering into a cooperation agreement.
  • Provide actual and prospective information for prospective creditors/investors while still applying the principle of prudence.
  • Select Creditors/Investors based on the credibility and bona fide aspects that can be accounted for.
  • Receive a loan/investment bound through a valid agreement with an agreement clause that prioritizes the principle of fairness.
  • Provide information openly about using funds to increase the trust of Creditors/Investors.
  • Explore business opportunities with Creditors/Investors to increase the Company’s growth.

7. Corporate Ethics towards the Government

PT SUCOFINDO is committed to establish good relations with the Government by:

  • Foster good relations and communication with the Central Government and Local Governments.
  • Implement performance standards and best practices by considering the applicable laws and regulations through good corporate governance, risk management, product quality, security, health, safety, environment, and services.
  • Prevent criminal acts per applicable legal rules and principles.

8. Company Ethics towards Society

PT SUCOFINDO realizes its social responsibility by implementing community programs and other social programs through empowering the potential of the community around the workplace and improving the quality of life of different stakeholders by synergizing in related Government programs, including:

  • Promote Company programs relevant to social and community needs around the workplace.
  • Provide opportunities within certain limits to the Community who wants to know about the Company’s activities and involve certain members of the Community in events or promotional activities of the Company.
  • Optimize the Company’s assistance to the Community through corporate social policies and responsibilities.
  • Prohibit employees from making promises to the public outside their authority or applicable Company programs.
  • Avoid actions that can lead to discriminatory treatment based on gender, ethnicity, religion, race, and between groups.
  • Conduct risk and benefit analysis of social or community programs that have been implemented.

9. Company Ethics towards Mass Media

PT SUCOFINDO makes Mass Media as a partner and promotional tool to build a positive image by:

  • Provide relevant and balanced information to the Mass Media.
  • Receiving and following up on constructive criticism submitted through the Mass Media, with due regard to risk and cost aspects.
  • Invite the Mass Media to publish (expose) the Company’s activities and achievements within the agreed limits.

10. Company Ethics towards Professional Organizations

PT SUCOFINDO establishes good and sustainable cooperation with professional organizations to obtain information regarding business developments, business opportunities, and solving problems that may arise by:

  • Apply the standards set by professional organizations.
  • Give equal treatment to professional organizations.

Details can be read in the Business Ethics Guidelines
Download Link Business Ethics Guidelines