Board of Directors
Pursuant to the Company’s Articles of Association, the Board of Directors leads, manages and represents the Company in all its transactions and interactions with the public, including in courts of law, with th purpose of achieving the Company’s vision, mission and targets.
There are no financial, management, shareholding or familial relationships between any of the members of the Board of Directors, Board of Commissioners or the controlling shareholders.
The appointment, composition, roles, responsibilities and process of the Company’s Board of Directors are in compliance with the provisions of OJK Rule No. 33/POJK.04/2014, dated December 8, 2014, regarding the Boards of Directors and Boards of Commissioners of Public Companies.
As specified in the Company’s Articles of Association, two members of the Board of Directors can legally represent the Company, except in respect of the following actions, which require the written approval of the Board of Commissioners:
Borrowing or lending certain amount of monies on behalf of the Company which amount will be determined by a meeting of the Board of Commissioners from time to time (excluding the debit of certain amount of monies from the existing credit facilities and in the ordinary course of the Company’s business activities);
Purchasing/selling or receiving/releasing immovable assets owned by the Company, except for the purpose of the Company’s business activities;
Encumbering or pledging immovable assets owned by the Company;
Investing or divesting capital in other companies; and
Assigning, releasing rights in respect of, or pledge up to 50% of the Company’s assets in one financial year in a transaction or a series of transactions.
Duties and Responsibilities
The Board of Directors represents the Company in public and is responsible for the overall running of the Company’s business, and for coordinating the Company’s activities in such a way as to ensure the achievement of its strategic objectives. The Board meets regularly to discuss matters that require their