In Indonesia, the General Guidelines for Good Corporate Governance – GCG) are established by the National Committee on Governance (KNKG) based on the basic five pillars of GCG, namely: Transparency, Accountability, Responsibility, Independency, Fairness – TARIF. The Company has been applying those principles of five pillars in its corporate governance.
Five pillars basic on Good Corporate Governance:
1. Transparency
The Company has always been providing relevant information which is easily accessible to the shareholders and stakeholders in a timely manner. The Company also provide an official website of the Company http://www.firstmedia.co.id as one of the facilities accessible by the stakeholders to obtain any information about the Company.
2. Accountability
The Company shall be responsible to the shareholders and stakeholders to manage the company in a proper, measurable manner, that fits to the interests of the company, without ignoring the shareholders and stakeholders interests.
In the implementation, the Company has stipulated clearly the function, duties, and responsibilities of each organ and division of the Company, and has always ensured that all organs of the Company and divisions in the Company as well as its employees have sufficient competencies, in accordance with their duties and responsibilities, as well as their roles in the Company’s business activities.
3. Responsibilities
In running its business, the Company always pay attention to the governing law, not only because of its obligation, but it is the Company’s habit in carrying out its business activities. The Company confident that is not only ensure the continuity of the business, but also provide comfort to the Company’s customers.
4. Independency
The Company is committed to maintain its independence so as not to dominate each other, unaffected by certain interests, and it is free from any interests, so that any decisions taken will always be objective and provide an optimal output for the interests of shareholders, stakeholders and employees. In the implementation, the Company has appointed a number of independent parties that are highly reputable to sit in the Board of Commissioners and Board of Directors, as well as to provide an optimal role for the Company’s Audit Committee in conducting supervision on the business activities of the Company.
5. Equality and Fairness
The Company shall provide a fair opportunity to all parties to access company information in accordance with the principle of transparency within the scope of domicile of each party, according to the benefit and contribution given by the capital market authority, capital market community and stakeholders to the Company. Equality principle shall also be applied by the Company for each competent individual who is willing to work and highly dedicated for the sake of mutual advancement. There will be no discrimination for the career development of the Company’s employees based on ethnicity, religion, race, group, gender, and physical condition. The Company always maintains and pays attention to the balance between the rights and obligations of employees in a fair and reasonable manner.