Good Corporate Governance

Translations:

In its business activities, PT Pertamina Gas interacts as an institution with other parties. These interactions may give rise to possible conflicts of interest between shareholders and other parties, including employees, suppliers, customers, distributors, competitors, government as well as the public that contribute to the success of PT Pertamina Gas success and who are affected by the company’s operations.
 
The management therefore has to constantly strive for equal treatment of all the stakeholders, with the aim of maintaining the existence of PT Pertamina Gas and bringing benefits to society as a whole.
 
This is where we need corporate governance, as it regulates all aspects related to internal and external balance. Corporate governance is a process and structure used in directing and managing the business as well as other company related issues. The aim is to increase business success and PT Pertamina Gas’ accountability in order to provide long-term value for shareholders while still considering the interests of other stakeholders.
 
PT Pertamina Gas defines Good Corporate Governance (GCG) as the way the entire workforce thinks and works to create an efficient and effective work system in managing resources and the business management while enhancing managerial responsibility to the shareholders and other stakeholders.
 
At PT Pertamina Gas, GCG implementation is aimed at:
  1. Maximizing the value of PT Pertamina Gas by improving the implementation of transparency, independence, accountability, responsibility, and fairness principles in the company’s activities.
  2. Managing the company professionally and independently.
  3. Developing a decision making process throughout the company based on strong ethical values and adherence to prevailing laws and regulations.
  4. Realizing our corporate social responsibility to our stakeholders.
  5. Promoting a conducive national investment climate, particularly in the energy and petrochemical fields.
 
The GCG principles are as follows:
  1. Transparency
    Openness in the decision making process and in publishing material and relevant information relating to the Company.
  2. Independency
    A state where PT Pertamina Gas is managed professionally without any conflict of interests or influence or pressure from any parties that is not in line with prescribed laws and regulations, as well as good corporate principles.
  3. Accountability
    Clear descriptions of the function, tasks and responsibilities of component parts so as to create effective company management.
  4. Responsible
    Managing PT Pertamina Gas in accordance with prevailing regulations and good corporate principles.
  5. Fairness
    Fairness and equal treatment in fulfilling the rights of stakeholders that arise based on agreements and prevailing regulations.
 
As part of the implementation of GCG, the Directors and Management of PT Pertamina Gas have signed an Integrity Pact. This Integrity Pact is a set of good morale and behavioral guidelines for PT Pertamina Gas employees for professional business conduct and operations.
 
The signing of the Integrity Pact was a result of the government’s desire for all State Owned Enterprises and their subsidiaries to properly conduct their business activities in a clean and transparent manner.
 
The final objective of the Integrity Pact is to develop islands of integrity, meaning a company within which all employees express their determination that their areas of the company are free from corruption.
 
In conjunction with this, the Directors and Management have also signed a Statement of Non Conflicting Interests. This statement reflects the determination of the management not to be involved in any business activities, directly or indirectly, outside the activities of PT Pertamina Gas, which in the end would result in conflicts of interest with company’s activities. 

 

Business Ethics and Codes of Conduct

 

News

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