News Update
Friday, 27 May 2022
Jakarta, 27 May 2022. The Indonesian Institute for Corporate Directorship (IICD) was once again held an award ceremony for companies who implemented Good Corporate Governance (GCG) practices entitled "The 13th IICD Corporate Governance Awards"
The assessment was carried out on 200 companies with the largest and medium market capitalizations listed on the Indonesia Stock Exchange. The assessment is divided into two groups, namely 100 issuers with big cap and 100 issuers with medium market capitalization (mid cap). While the assessment method is based on the Asean CG Scorecard.
On this occasion, PT Bank JTrust Indonesia Tbk won two awards, namely:
Quoted from the investor.id article, IICD Chairman Sigit Pramono said the importance of implementing GCG principles in companies. The implementation of good GCG, according to him, can be a factor that saves the company when a crisis hits. "We need good governance. The proof is that in 1998, during the financial crisis, one of the causes of the company's bankruptcy was the weakness of GCG. Therefore, the management must be improved. Now when it's fine, maybe it feels like GCG isn't necessary. But something will always be needed when something goes wrong. So, you have to be ready," he said.
Meanwhile, the appreciation to company with best CG practices is divided into 10 categories and two groups (big cap and mid cap). The ten categories are Best CG Overall, Best Financial Sector, Best Non-Financial Sector, Best SOE/BUMN, Best Right of Shareholders, Best Equitable Treatment of Shareholders, Best Role of Stakeholders, Best Disclosure & Transparency, Best Responsibility of the Boards, and Most Improved.
