Matahari Department Store Has Applied Enterprise Risk Management Well and Received Indonesia Enterprise Risk Management Award 2018
PT Matahari Department Store Tbk (“Matahari” or “Company”; stock code:”LPPF) received Indonesia Enterprise Risk Management Award (IERMA) 2018 as one of the best company in applying Enterprise Risk Management (ERM). IERMA 2018 was given by Economic Review Magazine as the highest appreciation for the company that has been successfully applying risk management system well so that it can support the company’s operational.
The assessment for the risk management to determine the winner of IERMA 2018 is by identifying the risk and its policies. Each business category will have different risk types based on its business characteristics. The identified risks then will be measured through two dimensions which were the frequency and impact. After identifying the risk, the next step was procedure policy and limits setting which was the company’s policy in taking step to tackle the risk. IERMA was given to companies who has successfully identified and manage its risks to minimize the loss.
From the assessment process, Matahari become one of the winner of IERMA 2018 which indicate that Matahari has successfully applying ERM well by identifying the risks and applying the suitable policies to tackle the risks.
Matahari that has been successfully applying ERM is expected to raise public’s trust towards Matahari to be able to keep delivering its best performance.