GCG Evaluation

We monitor GCG performance through annual evaluations by the IICG, an independent GCG rating company in Indonesia. The IIGC routinely conduct CGPI surveys and ratings on listed companies, SOE or companies other than listed companies or SOEs.

The process for CGPI assessment and rating consists of four stages with different weighing:

  • Self assessment, the company was asked to complete the questionnaire in accordance with the GCG assessment theme.
  • Observing document, the company submitted policies, procedures and other evidence demonstrations our application of GCG.
  • Assessment of papers and presentations, the company prepared a paper describing GCG activities in line with the assessment theme and presented it to the jury.
  • Observation, where the IICG jury visited us for interview, observation and an onsite review to confirm the implementation of GCG in the company, referring to the results of the self-assessment, document and paper assessment

As a result, we are again awarded the recognition as The Most Trusted Company, in line with the GCG assessment theme for 2013, namely “GCG in Perspective of Knowledge”.

A part from assessment by IICG, we are frequently chosen to be observed by other rating agencies since we are considered as benchmark or model for other companies. Following is some of our other achievements:

  • Ranked 1st as the Most Committed to a Strong Dividend Policy from Finance Asia Best Companies Award 2013.
  • The Best of Asia for the category of Asia’s Icon on Corporate Governance in Corporate Governance Asia Annual Recognition Award 2013.
  • The Best Corporate Overall from Indonesian Institute for Corporate Directorship (“IICD”) on Corporate Governance  practices in listed companies in Indonesia.
  • Ranked 2nd The Best GCG Implementation in Anugerah Business Review.
  • The Best GCG Implementation from Anugerah BUMN.
  • Corporate Governance Perception Index – The Most Trusted Companies 2013 as the most trusted company from IICG in collaboration with SWA Magazine based on investor, analyst and fund manager survey.


Posted on June 23, 2014