BOC & BOD

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Duties, Responsibilities and Liabilities of the Board of Directors and the Board of Commissioners

Board of Commissioners

Duties of Board of Commissioners

The Board of Commissioners (BOC) is tasked with the supervision on the management of the Company by the Board of Directors and advising the Board of Directors for the interest of the Company and in accord with the Company’s goals, including on the carrying out of the General Meeting of Shareholders Resolutions, Company long-term and short-term plan, the Articles of Association, as well as applicable laws.

The BOC represents the shareholders' interest and be accounted for at the General Meeting of Shareholders.

 

Composition of the Board of Commissioners

By the end of 2015, the Board of Commissioners comprised 3 (three) members, 1 (one) of them was Independent Commissioners, which represents one third of the total Commissioners

 

Board Of Commissioners Meetings

BOC conducted regular meetings at least once every month. BOC meeting may also be conducted when it is considered necessary at any time. BOC may invite the Directors to the meeting to seek further clarifications on the matter discussed at the meeting

During 2015, the Board of Commissioners held 6 (six) meetings with an average frequency of attendance of 94.44%.

 

Board of Commissioners Training

During  the  year  2015 there  were  no  training programs undertaken by members of the BOC.

 

Committees

In performing the duties, BOC was assisted by Audit Committee. There is no other committee other than Audit Committee.

 

Board of Directors

Duties of Board of Directors

The Board of Directors (BOD) is tasked to lead and manage the Company in realizing its corporate goals, accomplish the decisions of Shareholders General Meeting, and comply with the Articles of Association and laws and regulations.

 

Composition of Board of Directors

The BOD comprises 3 (three) people: President Director, 1 (one) Director, and 1 (one) Non-Affiliated Director.

The BOD works and is accountable in a collegial manner, however, each Director can act and take decisions in line with his or her tasks and authorIty.

 

Board of Directors Meetings

BOD conducted routine meetings at least once every month. Besides, BOD conducted meeting when it is considered necessary at any time. BOD may invite the Commissioners to the meeting to provide further explanation and seek advice on matters faced by BOD.

 

Board of Directors Training

During  the  year  2015, BOD participacted in various trainings, workshops, and seminars to increase their competence and assist in performing directorial duties.

 

Remuneration

Although the company has not had the Nomination and Remuneration Committee, the Board of Commissioners has conducted remuneration study and considered various aspects, including:

  • Financial performance and achievements of Company.
  • Individual work performance.
  • Fairness with other peer companies.
  • Consideration of Company long-term goals and strategy.
  • The Board of Commissioners recommended remuneration based on the findings.

 

Legal Case

None of the current members of the BOC, and the BOD is involved in any legal case, hence no whatsoever effect to the Company's financial standing.

 

 

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