Under the Law of the Republic of Indonesia No.40 year 2007 on Limited Liability Company (UU PT), the company’s organs consist of General Meeting of Shareholders (AGMS), Board of Commissioners, and Board of Directors which all of them have equality character. These three organs are obliged to do and act best for the benefit of the company.
The management of the activities and daily activities of a limited liability company in Indonesia follows a two-agency system, the Board of Commissioners and the Board of Directors, which has clear authority, obligations and responsibilities in accordance with their respective functions mandated in the Articles of Association and legislation. The Board of Commissioners and the Board of Directors are responsible to the GMS.
Both have a responsibility to maintain the Company’s long-term sustainability. Therefore, the Board of Commissioners and the Board of Directors must have a common perception of the Company’s vision, mission and values.