GOOD CORPORATE GOVERNANCE COMMITMENT

Matahari believes that good corporate governance is the foundation for delivering sustained, profitable growth for the shareholders.

As such, the Company is committed to doing business responsibly and with integrity, and acting at all times in the best interests of our shareholders and other stakeholders, including management, employees, customers, suppliers and the community. The Company therefore consistently strives to uphold the core principles of good corporate governance as defined by the Organisation for Economic Cooperation and Development (OECD): Transparency, Accountability, Responsibility, Independence, and Fairness. These five principles provide the foundation for Matahari’s Code of Conduct.

  1. Transparency
      The Company consistently provides clear, accurate, complete and timely information to the shareholders and other stakeholders, in the form of financial statements, investor information, and other relevant materials or disclosures. These are easily accessible on the corporate website, www.matahari.co.id, and disclosed in the Company’s annual reports.

  2. Accountability
      The Management accepts its responsibility to the shareholders and other stakeholders with regard to the implementation of the Company’s strategies and achievement of its objectives, and is ready to account for all its actions and decisions to the Board, the shareholders, and other interested parties. The Board of Commissioners takes responsibility for the effective supervision of Management and its accountability to the shareholders..

  3. Responsibility
      The Company complies with the relevant laws and regulations and respects the rights of all the stakeholders. It also fulfils its responsibility to protect and promote the sustainability of the environment, public welfare and healthy living.

  4. Independence
      The Company manages the business in a professional manner, without any conflict of interest or influence or pressure from any party that is in contravention with the laws and regulations. This is demonstrated in the Company’s objective decision making, which is free of any intervention from third parties.

  5. Fairness
      The Company treats all the shareholders equitably, irrespective of whether they are majority or minority shareholders, and guarantees the rights of the shareholders and stakeholders. The Company therefore always provides the same opportunities to all shareholders to vote and challenge the Company at the AGM, and treats all stakeholders fairly by providing equal opportunities with regard to employment, training, promotion, access to information, and so on.