Page 80 - XL Axiata Integrated Anual Report 2020 ENG

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2020 Integrated Annual Report
CORPORATE GOVERNANCE
GCG LEGAL BASIS
XL Axiata, a public company listed on the Indonesia Stock Exchange implements the GCG based on the Law of the Republic of Indonesia No. 40 of 2007 regarding the Limited Liability Company and its implementing regulations as well as the Law of the Republic of Indonesia No. 8 of 1995 regarding the Capital Market. In addition, the Company is also subject to the relevant Regulations in particular to any regulations issued by the Financial Services Authority (OJK) and the Indonesia Stock Exchange.
Internally, the Company is guided by the Articles of Association that have been adjusted to the latest Law and Regulations and a series of internal policies including Company Regulation covering the Code of Ethic and Employee Behavior, The GCG Manual, Work Guideline and Code of Ethic for the Board of Directors and the Board of Commissioners (Board Manual) and other internal policies related to operational matters.
XL Axiata also has in place, a Whistleblowing System that applies to all levels of Employees, including Anti Bribery and Anti Corruption Policy applicable for all XL Axiata internall elements and third parties or stakeholders that have business relations with XL Axiata.
GOOD CORPORATE GOVERNANCE PRINCIPLES
XL Axiata still implements its GCG practices by referring to the five GCG principles, but this year we are confident to add Digitization into our GCG principle as well as helps XL Axiata improve current efficiency of its process, consistency, and quality.
TRANSPARENCY
RESPONSIBILITY
1. Transparency
The Company discloses all information related to XL Axiata which is material and may affect Shareholder decisions through the Annual Report, Financial Statement and announcement made to Shareholders and Stakeholders through IDX website and official website of the Company and/ or newspapers that are easly accessed by the Shareholders and Stakeholders.
2. Responsibility
All information related with the Company that are submitted to Shareholders and Stakeholders shall be accountable.
3. Accountability
Any activties implementation of the Company’s Organs shall be accountable in accordance with their respective duties and authorities.
INDEPENDENCE
DIGITIZATION
ACCONTABILITY FAIRNESS
PT. XL AXIATA TBK
TRANSFORM FASTER TO EMERGE STRONGER – GIVING BACK TO THE NATION
4. Independence
Decision-making activities within the Company should avoid conflict of interest. Any corporate action with conflict of interest shall be carried out in accordance with applicable regulations.
5. Fairness
The Shareholders of the Company shall obtain equal treatment in accordance with prevailing laws and regulations. Each Shareholder and Stakeholder may submit input and obtain the same information related to the company.
6. Digitization
Embraced as the latest governance principles, XL Axiata believe in digitization where it would execellerate business growth, increase current efficiency of its process, consistency, and quality. This also allows our orgnaization and Board members to transform and cope with the current disruptive wave of business model, by starting with the change of internal governance method, Board leadership, Board structure and processes.