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GCG Organ

Board of Directors

The Board of Directors is the company organ with the responsibility to ensure that all management activities in PTP Multipurpose, such as Corporate Strategy, Internal Supervision, Corporate Secretary Activities, Commercial and Business Development, Engineering and Risk Management, Operations and Information Systems, Finance, HR and Law, and Transformations & Business Development run efficiently and effectively and are in accordance with the principles of GCG. The Board of Directors also represents the company both internally and externally. The Board of Directors always carries out business management as well as manages and protects company assets, management, strategies, and budget plans regularly.

THE DUTIES OF THE BOARD OF DIRECTORS

The Board of Directors is responsible for carrying out all actions relating to the management of PTP Multipurpose for the benefit of the company and in accordance with the intent and purpose of PTP Multipurpose, and representing the company inside and outside the court on all matters and all events with restrictions as regulated in the laws and regulations, Articles of Association, and the decisions of the General Meeting of Shareholders. Each director is obliged in good faith and full responsibility to carry out his duties for the interests and the business of PTP Multipurpose. Directors are fully responsible for carrying out their duties for the benefit of the company in achieving its goals and objectives. In carrying out its duties, the Board of Directors must comply with the Company’s Articles of Association and the regulations and must implement the principles of Good Corporate Governance.

THE AUTHORITIES OF BOARD OF DIRECTORS

Board of Directors has authorities as follow:

  • Stipulate the company’s management policy
  • Arrange the transfer of Board of Directors power to one or more members of Board of Directors to take decisions for and on behalf of Board of Directors or to represent the company in and out of court
  • Arrange the submission of the power of Board of Directors to a person or several employees of the company individually or jointly or to others, to represent the company in and out of court
  • Regulate the provisions concerning the company’s employee affair that are stipulated in the laws and regulations and must obtain prior approval from the GMS
  • Performing all actions and other actions regarding the management and ownership of the company’s assets, binding the company with other parties and/or other parties with the company and representing the company in and outside the court of all matters and all events, with restrictions as regulated in the law and regulations, Articles of Association, and/or the decisions of GMS

THE OBLIGATIONS OF THE BOARD OF DIRECTORS

In carrying out its main duties, the Board of Directors is obliged to do the following:

  • Make efforts and guarantee the implementation of the company’s business and activities in accordance with the aims and the objectives as well as the company’s business activities
  • Prepare the RJPP, RKAP, and the amendments on time and submit them to the Board of Commissioners and the shareholders to get the GMS ratification
  • Provide an explanation to the GMS regarding RJPP and RKAP
  • Make a List of Shareholders, Special List, Minutes of GMS, and Minutes of Board of Directors’ Meetings
  • Make annual reports as a form of accountability for the management of the company, as well as the company’s financial documents as referred to the Law of the Company Documents
  • Prepare financial reports based on the Financial Accounting Standards and submit to the public accountants to be audited
  • Submit annual reports including financial report to the GMS for approval and authorization, as well as a reports of the rights of the company that are not recorded in the books as a result of the write off receivables
  • Provide an explanation to GMS regarding the annual report
  • Submit the Balance Sheet and Income Report which has been ratified by the GMS to shareholders in accordance with the provisions of the laws and regulations
  • Submit reports on changes in the composition of the Directors and Board of Commissioners to the shareholders
  • Maintain the List of Shareholders, Special List, Minutes of GMS, Minutes of Board of Commissioners Meetings and Minutes of Board of Directors Meetings, Annual Report and the company’s financial documents, and other company documents
  • Keeping the following documents in the company’s domicile: List of Shareholders, Special List, Minutes of GMS, Minutes of Meeting of the Board of Commissioners, Minutes of Directors Meeting, Annual Report and financial documents of the company, and other company documents
  • Arrange the accounting system in accordance with the financial accounting standards and based on the principles of internal control, especially the functions of management, recording, storage, and supervision
  • Provide a periodic report according to the manner and time in the applicable regulations and also other reports whenever requested by the shareholders to be forwarded to the Board of Commissioners
  • Prepare the organizational structure with the breakdown of its tasks
  • Provide an explanation of everything asked or requested by members of the Board of Commissioners and the shareholders
  • Develop and determine the organization’s blueprint
  • Carry out other obligations in accordance with the provisions stipulated in the Articles of Association and those determined by the GMS based on the law and regulations

THE RESPONSIBILITY OF THE BOARD OF DIRECTORS

  • In carrying out its duties, the Board of Directors is responsible to the GMS
  • In the event that the company shows a noticeable sign of a setback, the Board of Directors must immediately report it to the GMS, accompanied by a proposal regarding the corrective measures to be taken
  • Provide opinions and suggestions to the GMS regarding any issues deemed important for the management of the company