Page 177 - XL Axiata Integrated Anual Report 2020 ENG

2020 Integrated Annual Report
175
Principles
Principle 6
Enhancing
the Quality of Implementation on Duties and Responsibilities of The Board of Directors
Recommendations
The Board of Directors has
Self Assessment Policy to evaluate the performance of the Board of Directors
Explanation On OJK Recommendations
Similar with the Board of Commissioners, the Board of Directors’ Self Assessment policy is a guideline as a form of accountability to evaluate collegial performance of the Board of Directors.
The self assessment is conducted by each member of the Board of Directors to assess the collegial performance of the Board of Directrors, and not to assess the individual performance
of each member of the Board of Directors. It
is expected that each member of the Board
of Directors can contribute to improve the performance of the Board of Directors on an ongoing basis.
This policy can include the assessment activity as carried out along with the purpose and objective, periodic period of implementation, and benchmark or assessment criteria being used in accordance with the recommendations from the Remuneration and Nomination function of Public Company as required by OJK Regulation on the Remuneration and Nomination Committee of Issuer or Public Company.
The disclosure of Self Assessment Policy on performance of the Board of Directors is conducted not only to comply with transparency aspect as form of accountability of its duties but also to provide assurance to the Shareholders
or investors on efforts that need to be done
in improving the performance of the Board
of Commissioners. Upon the availability of disclosure, the Shareholders or investors acknowledge the check and balance mechanism towards the Board of Directors
The resignation policy of the Board of Directors involved in financial crimes is a policy that can increase the stakeholders’ trust in the Public Company, so that corporate integrity will be maintained. This policy is needed to help the legal process and so that the legal process does not interfere with the course of business activities. In addition, in terms of morality, this policy will build an ethical culture within the Public Company.
This policy can be incuded in the Guideline or the Code of Ethics that applies to the Board of Directors.
Explanation On OJK Recommendations
A person with inside information is prohibited from conducting a Securities transaction by using inside information as stipulated under the Capital Market Law. Public company can minimize the occurrence of insider trading through prevention policies, for example
by firmly separating between confidential and public data as well as distributing the duties and responsibilities on information management in proportional and efficient manner.
Comply
In 2020 XL Axiata conducted assessment
on the BOC and BOD internally which includes Board Effectiveness, peer-to-peer assessment with fellow members of
the BOC and Cross Board Assessments with each member of the BOD.
The assessment includes understanding the roles, duties and responsibilities as well as evaluating the Company’s GCG. The assessment result will be used as recommendation for the Company’s GCG improvement as well as one of basic considerations of the BOC to be reappointed.
Discloure on Self Assessment is available in this Annual Report
in Chapter Corporate Governance.
Policy on the resignation of Board of Directors members if involved in financial crimes is included in the Board Manual.
Comply
Policy to avoid Insider Trading is accommodated under XL Axiata Blackout Policy.
Stakeholders Participation
Principles
Principle 7
Enhancing Governance Aspect Through Stakeholders Participation
Recommendations
The Public Company has Policy to prevent Insider Trading
The Self Assessment Policy to evaluate the performance
of the Board
of Directors is disclosed in the Annual Report of Public Company
The Board
of Directors
has policy on resignation of member of
the Board of Commissioner when involved in financial crime
TRANSFORM FASTER TO EMERGE STRONGER – GIVING BACK TO THE NATION
PT. XL AXIATA TBK