/ ESG / Governance / Code of Ethics
Code of Ethics
In relation to protecting the reputation and demonstrate to stakeholders that the Company has high
integrity and upholds ethics in carrying out every business activity, the Company has established a
Code of Ethics. The Code of Ethics constitutes written rules that guide ethical/moral values in
accordance with the corporate culture.
The Code of Ethics contains the Company’s commitment to various stakeholders of the Company to uphold business ethics and work ethics of the Company’s personnel. The Code of ethics applies to all personnel of the Company including the Board of Commissioners, Board of Directors, employees and other individuals or institutions associated with the Company’s business.
Principles of Corporate Ethics
The Code of Ethics contains general guidelines for relationships between employees and the
Company, relationships among employees, relationships with customers, relationships with
shareholders, relationships with government, and relationships with the community.
The entire management and employees should read and comprehend the Code of Ethics as a reference in doing acceptable acts and not doing unacceptable acts. With continuous dissemination and internalization of the Code of Ethics into all elements of the Company and its subsidiaries, employees are expected to better understand how to act.
The Code of Ethics includes:
- Business integrity which is in compliance with the applicable regulations.
- Not making false statements and false claims primarily related to marketing and negotiations, including costs and expenses, review of specific projects and reporting.
- Avoiding conflict of interest, particularly in relation to share ownership, either directly or indirectly, insider trading, using the Company’s assets for personal interest, doing other work outside the Company that could potentially interfere with productivity and providing information that benefits others.
- Giving/receiving gifts, as stipulated by the Company’s policy, such as: it should not be in the form of cash or vouchers and worth not more than an amount determined by the management.
- Not receiving or giving any form of bribe.
- Not committing fraud such as cheating, embezzling, piracy, misappropriation of assets, transfer of cash and so forth.
The Company implements integrity commitment as a statement of commitment of all levels in the
organization to implement Corporate Governance principles, the Code of Ethics, the precautionary
principle and internal control in running the business.
To maintain consistent and continuous implementation, the Company monitors through the Division of Compliance reviews Code of Ethics.
Employees and Industrial Relations
In improving its industrial relations, the Company continues to improve HR quality to develop professional competence. The Company always prioritizes occupational health and safety (K3) and community development, assesses business competition and manages relationships with stakeholders effectively.
Relationship with Business Partners
The Company has policies in managing relationships with customers, suppliers and creditors to cooperate in an honest, open, mutually beneficial manner and to uphold the Company’s reputation by adhering to Corporate Governance principles and business ethical values.
Relationship with Employees and Government Officials
The Company established policies to maintain good relationships and effective communication with all levels in the government that have authority over the Company’s operations. Employees should wherever possible avoid the misuse and/or not perform actions that are prohibited by laws and against compliance.
Code of Ethics Statement applicable at All Levels of the Organization
The Code of Ethics is applied equally to all employees at all levels. Through the implementation of the Code of Ethics, all employees are expected to maintain credibility and the public’s trust in the Company, which is known for its good reputation.
Dissemination and Enforcement of Code of Ethics to Employees
In order to effectively implement the Code of Ethics, the Company has formed a team consisting of Internal Audit Manager, HRD Manager and all of the relevant management for disseminating, implementing and evaluating Code of Ethics implementation on a regular basis. Socialization is given to all employees in all divisions or departments, including the Company’s subsidiaries. Comprehensive socialization is expected to encourage employees to conduct proper behavior that will be the foundation for all of the Company’s activities.
The corporate culture is established from the Company’s core values, as the basis for management of the Company and its business units. In practice, the corporate culture is also expected to be a guideline for all employees in conducting their duties and responsibilities in order to achieve the Company’s predetermined objectives.
The Company’s core values that are expected to ground the corporate culture are:
- Honesty, loyalty, and dedication
- Assertive and friendly
- Cooperative and synergy