• Indonesia
    The slider allows having unlimited amount of images with their titles and descriptions. The slider uses autogenerated shortcodes making it easier for the users to add it to the custom location.
  • Simple

In line with the provisions of the Limited Liability Company Law Number 40 of 2007, the WIKA GCG structure consists of the General Meeting of Shareholders (GMS), the Board of Commissioners and the Directors. The implementation of corporate governance is carried out systematically and continuously so that the principles of GCG are a reference in WIKA’s daily activities. In executing WIKA’s stewardship, the Board of Directors is supported by an effective management structure. In performing its supervisory function, the Board of Commissioners is supported by supporting bodies such as the Secretary to the Board of Commissioners, the Audit Committee and the Remuneration, Nomination and GCG.

The GCG soft structure owned by the Company, among others includes:

  1. Articles of Association of PT Wijaya Karya (Persero) Tbk. Number 7 dated April 7, 2017;
  2. Guidelines on the execution of Good Corporate Governance (Code of GCG) of PT Wijaya Karya (Persero) Tbk. for 2017-2019, which has been updated based on the Board of Directors Decree Number: SK.02.09/A.DIR.0638/2018;
  3. The PT Wijaya Karya (Persero) Tbk. Board of Directors and Board of Commissioners Guidelines that have been updated based on the Joint Decree Number: 05/DK/WIKA/2018 and Number: SK.02.09/A. DIR.0637/2018;
  4. PT Wijaya Karya (Persero) Tbk.’s Code of Conduct that has been updated based on Decision Letter Number: SK.02.09/A.DIR.0639/2018;
  5. Gratification Control Procedure Number WIKALDSPM-01.01;
  6. Violation Against Code of Conduct Complaints Procedure (Whistle Blower) Number WIKALDSPM-01.02;
  7. Guidance on Relationship between Parent and Subsidairy (Subsidairy Governance) No. SK 33/ DK/WIKA/2017 and No. SK.01.09/A.DIR.4229/2017 dated March 21, 2017;
  8. Guidelines for Handling Conflict of Interest;
  9. Nomination, Remuneration and GCG Committee Charter Number: 31/DK/WIKA/2016;
  10. Audit Committee Charter Number: 73/DK/WIKA/2016;
  11. Internal Control Unit Charter dated July 2, 2017;
  12. Risk Management Policy Procedure WIKA-SMRPM-1.01 No. Rev 02 Amd 01
  13. Company Procedures

PT WIJAYA KARYA (Persero) Tbk. always upholds the implementation of Good Corporate Governance (GCG) principles. The Company strives to continue to maintain integrity and improve itself in the implementation of GCG commitments in order to achieve the goal of being an adaptive, sustainable and developing competitiveness business entity. In order to protect the interests of shareholders and stakeholders, the Company ensures that all elements act in accordance with the ethical standards of behaving and doing business. To support these efforts, the Company established a governance structure, a corporate governance framework to regulate the relationship between the Company and its Shareholders, the Board of Commissioners, the Board of Directors and other stakeholders. By referring to this framework, the Company carries out the Governance Process and achieves Governance Outcome that supports financial health and the achievement of the Company’s goals in accordance with stakeholder aspirations. WIKA’s commitment to GCG is shown in the Vision, Mission and Cultural Values of the Company. The Company’s vision to be one of the best companies in the field of EPC (Engineering, Procurement & Construction) and integrated investment in Southeast Asia, is realized in the Company’s Mission based on the Company’s Cultural Values. In realizing the Vision and executing the Mission, the Company always adheres to GCG principles, namely transparency, accountability, responsibility, independence and fairness.

GOVERNANCE FRAMEWORK

WIKA’s commitment to applying corporate governance is embodied in the Corporate Governance Framework as follows:

IMPLEMENTATION OF SUSTAINABLE GOOD CORPORATE GOVERNANCE

The Company applies GCG according to the standards set. The Company’s GCG implementation refers to the StateMinister of BUMN Regulation Number: PER-01/MBU/2011 dated August 1, 2011 concerning the Implementation ofGood Corporate Governance in SOEs and changes in the State Minister of State Regulation Number: PER-09/MBU/2012 July 6, 2012. In principle, GCG in WIKA has been well implemented by the Board of Commissioners, Board of Directors, andall human capital in each activity, with the aim of protecting the interests of the Company, shareholders andstakeholders. The mechanism for GCG implementation is described in the following implementation cycle.

Corporate governance execution is important to the Company, and can have a direct impact on a country’s economy. The Company is well aware of this, and continues to maintain its commitment to the effective application of corporate governance. The Company’s commitment to corporate governance is evident from the effectiveness of its governance structure, and the governance processes already applied. The Governance Structure and Governance Processes has encouraged the achievement of a Governance Outcome, in line with the Company stakeholders’ expectations.

Basic Principles of Good Corporate Governance

In GCG implementation, Company complies with the following five principles:

  1. Transparency – transparent in performing decision making process and in relevant material information related to the company.
  2. Accountability – clarity of organization functions, implementation, and responsibility so that the company management shall run effectively.
  3. Responsibility – suitability in company management toward laws and regulations.
  4. Independency – independence of company management to act without any interference from other parties which is incompliance with the applicable laws and regulations as well as healthy corporation principles.
  5. Fairness – justice and equalization in fulfilling stakeholders’ rights based on current agreement and regulations.

Implementation of GCG principles requires thorough approaches and phases based on analysis of company situation and condition as well as company readiness.

Basis for Corporate Governance Application

The application of GCG in WIKA refers to the following provisions, namely:

  1. 2007 Law Number 40 concerning Limited Liability Companies
  2. 2003 Law Number 19 concerning State Own Enterprises
  3. Republic of Indonesia Government Regulation Number 45 of 2001 concerning amendment to Government Regulation Number 12 of 1998 concerning Limited Liability Companies (Persero)
  4. Minister of State-Owned Enterprises Regulation Number: PER-01/MBU/2011 dated August 1, 2011 concerning the Implementation of Good Corporate Governance in State-Owned Enterprises and amendment to Minister of State-Owned Enterprises Regulation No. PER-09/MBU/2012 dated July 6, 2012
  5. Secretary of the Ministry of State-Owned Enterprises Decree No. SK-16/S.MBU/2012 dated June 6, 2012 concerning the Indicators / Parameters for Evaluation of Good Corporate Governance in SOEs
  6. Otoritas Jasa Keuangan Regulation No. 8/ POJK.04/2015 concerning Issuers or Public Company Web Sites
  7. Otoritas Jasa Keuangan Regulation No. 31/ POJK.04/2015 concerning Disclosure of Material Information or Facts by Issuers or Public Companies
  8. Otoritas Jasa Keuangan Regulation No. 21/ POJK.04/2015 concerning the Implementation of GCG Guidelines

In addition, to further streamline the implementation of GCG, the Company also reviews the best business practices that include:

  • Corporate Governance principles for SOEs developed by the Organization for Economic Co-operation and Development (OECD)
  • ASEAN Corporate Governance Scorecard
  • GCG Implementation based on perception index from specific part regarding to corporate governance or Corporate Governance Perception Index (CGPI)
  • Assessment of excellence business implementation through the Superior Performance Appraisal Criteria (KPKU) especially for governance and leadership
  • GCG Indonesia Guidance developed by Komite Nasional Kebijakan Governance (KNKG) in 2006.