A. TRANSPARENCY
Transparency is openness in the decision-making process, presenting material and relevant information about the Company accurately, and promptly. Matters that must be considered in implementing the principle of transparency are the disclosure of information by the Company by:
- Comply with the Articles of Association, applicable laws and regulations, Company Regulations, and GCG principles.
- Providing information, whether mandatory or voluntary, adds value to the Company and does not reduce the Company’s obligation to fulfill confidentiality requirements to Shareholders and stakeholders in an accurate and timely manner, and is easily accessible following the limits set by the Company.
B. ACCOUNTABILITY
Accountability is the clarity of functions, implementation, and responsibilities of the Company’s organs and employees so that the Company’s management can be carried out effectively. On this principle, PT SUCOFINDO recognizes 3 (three) types of accountability levels in each of the Company’s activities, which include:
1. Individual Accountability
Accountability refers to parties, both with authority and those who get assignments from the authority holders (delegation of duties). The authority holder is responsible for providing direction, guidance, and resources. The task executor is accountable for completing the results or objectives of the assignment. Both parties have their respective accountability.
2. Accountability of Work Units/Teams
Work Unit/Team Accountability refers to the accountability shared by a Work Unit/Team for the achievement/failure of the assigned tasks. If the Work Unit/Team submits a report, it must be distinguished between individual accountability and the Work Unit/Team.
3. Corporate Accountability
Corporate accountability refers to the responsibility of the Company. In carrying out its role as a business entity, PT SUCOFINDO is responsible for the business activities it carries out. Each company organ can be held accountable according to its respective duties and responsibilities by referring to the laws and regulations, company policies, company regulations, and other provisions.
The things that must be considered in implementing the principle of Accountability are:
- Establish clear responsibilities of each PT SUCOFINDO Personnel that align with the Company’s vision and mission, including policies that support the implementation of duties and obligations per applicable laws and regulations.
- Carry out duties and obligations for the benefit of the Company, both individually, in work units/teams, and in corporations. Responsible for the implementation of tasks based on the performance measures that the Company has determined promptly.
C. LIABILITY
Accountability is the conformity of the Company’s management to the prevailing laws and regulations, including Company regulations and policies and sound corporate principles. Accountability is also followed by a commitment to conduct business activities under ethical standards (code of ethics). Matters that must be considered in implementing the principle of responsibility are to make the Company an excellent corporate citizen, which is manifested among others by:
- Fulfillment of obligations to Regulators, the International Federation of Inspection Agencies (IFIA), and Shareholders promptly.
- Environmental management according to the standards set by laws and regulations; and,
- Protection of the rights of stakeholders in general.
- The Company must pay attention to the interests of other stakeholders.
D. INDEPENDENCE
Independence is a condition in which the Company is managed professionally without conflict of interest and or influence/pressure from any party that is not by applicable laws and healthy corporate principles. The things that must be considered in implementing the declaration of independence are:
- Make decisions objectively based on data and information that can be accounted for and free from the interests of specific individuals, groups, or groups.
- Respect the rights and responsibilities of each Company Organ following the Articles of Association and the prevailing laws and regulations. Independence is important so that each organ of the Company can carry out its duties as well as possible for the benefit of the Company and can be held accountable for the implementation of their respective duties.
E. RIGHTEOUSNESS
Fairness is justice and equality in fulfilling the rights of stakeholders that arise based on statutory agreements, company policies, company regulations, and other provisions, as well as sound corporate principles. The things that must be considered in implementing the principle of fairness are:
- Provide information to Shareholders under their rights or without discriminating the number of shareholdings.
- Provide equal opportunities without discrimination to stakeholders to submit inputs and opinions for the Company’s benefit under the mechanism established by the Company.
- Provide rewards and punishments following applicable policies.