Assesment on the Implementation of Corporate Governance
To learn the level of GCG implementation that has been implemented by the Company, assessment is held regularly 1 (one) by the Company it self. This is carried out to provide description and evaluation to all parties of the Company to continuously increase the performance to create GCG mechanisms that is able to internalize the existing GCG principles. The results of GCG Assessment are always disclosed to public and stakeholders, both via the Company`s website and Annual Report. Upon the GCG assessment, the Company is committed to following-up the given improvement recommendation.
Procedures for GCG Assessment
Measurement on the effectiveness of GCG implementation is required by every company, including Waskita Beton Precast, therefore the credibility of the implementation of good corporate governance is maintained and can be improved. The Company regularly implements assessment that is carried out by independent consultant and/or work team from internal party of the Company (self-assessment) that has been appointed and has certain authorization, thus the assessment process runs independently. The implementation of assessment is conducted by using specific methods to identify and look for weaknesses that need attention from the Company to be followed-up. Juridical basis and procedures for GCG assessment refer to Regulation of the Ministry of SOEs No. SK-16/S.MBU/2012 on Indicator/ Parameter of Assessment and Evaluation on Implementation of Good Corporate Governance in State-owned Enterprises.
In 2016, the company has not yet conducted a self assessment of GCG implementation. But still in the assessment of the parent. Then in 2017, the company conducted a self-assessment conducted by the company internally with the help of experts. In 2018, the company carried out GCG assessment for fiscal year 2017 conducted by a Third Party. In 2019, the company carried out GCG assessment for the 2018 financial year conducted by BPKP. Furthermore, in 2020, the company will conduct a self-assessment conducted by third parties for the 2019 financial year.
Results of GCG Assessment
- GCG Assessment for Fiscal Year 2016: Score of 76.81 in the "Good" category.
- GCG Assessment for Fiscal Year 2017: Score of 78.19 in the "Good" category.
- GCG Assessment for Fiscal Year 2018: Score of 78.158 in the "Good" category.
- GCG Assessment for Fiscal Year 2019: Score of 89,142 in the "Very Good" category.
This proves that the Company is consistent in implementing the GCG principles and always strives to conduct improvement in GCG.