Universitas Indonesia Fakultas Ekonomi MAKSI

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A A.1 A.1.1

PEMBAHASAN DENGAN ASEAN SCORECARD DAN KEY FINDING ROSC

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Equitable Treatment ! S"are" l#er$ Hak Dasar Pegang Saham Does the company pay (interim and final/annual dividends in an equita le and timely manner! that is" all shareholders are treated equally and paid #ithin $% days after eing (i& declared for interim dividends and (ii& approved y annual general meeting (A'(& for final dividends) +ight to participate in decisions concerning fundamental corporate changes Do Shareholders have the right to participate in ,

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Amendments to the company-s constitution) .he authori/ation of additional shares .he transfer of all or su stantially all assets" #hich in affect results in the sale of the company) +ight to participate effectively in and vote in general shareholder meetings and should e informed of the rules" including voting procedures that govern general shareholder meetings. +ight to participate effectively in and vote in general shareholder meetings and should e informed of the rules" including voting procedures that govern general shareholder meetings. Does the company provide non0controlling shareholders a right to nominate candidates for oard of directors /commissioners) Does the company allo# shareholders to elect directors/commissioners individually) Does the company disclose the voting and vote ta ulation procedures used " declaring oth efore the meeting proceeds) Do the minutes of the most recent A'( record that there #as an opportunity allo#ing for shareholders to ask questions or raise issues) Do the minutes of the most recent A'( record questions and ans#ers) Did the disclosure of the outcome of the most recent A'( include resolution(s&) Did the disclosure of the outcome of the most recent A'( include resolution(s&) Did the company disclose the list of oard mem ers #ho attended the most recent A'() Did the chairman of the oard of directors /commissioners attend the most recent A'() Did the 789/(anaging Director/President attend the most recent A'() Did the chairman of the Audit 7ommittee attend the most recent A'() Did the company organise their most recent A'( in an easy to reach location) Does the company allo# for voting in a sentia) Did the company vote y poll (as opposed to y sho# of hands& for all resolutions at the most recent A'() Does the company disclose that it has appointed an independent party (scrutineers/inspectors& to count and/or validate the votes at the A'() Does the company make pu licly availa le y the ne:t #orking day the result of the votes taken during the most recent A'( for all resolutions) Do companies provide at least *1 days notice for all resolutions) Does the company provide the rationale and e:planation for each agenda item #hich require shareholders- approval in the notice of A'(/circulars and/or the accompanying statement) (arkets for corporate control should e allo#ed to function in an efficient and transparent manner. ;n cases of mergers" acquisitions and/or takeovers" does the oard of

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directors/commissioners of the offeree company appoint an independent party to evaluate the fairness of the transaction price) A.2 Pelaksanaan hak kepemilikan oleh seluruh pemegang saham" termasuk investor institusi" harus difasilitasi. A.2.1 Does the company pu licly disclose policies to encourage shareholders including institutional shareholders to attend the A'() A.2.* ;s the share o#nership y institutional investors" other than controlling shareholders" greater than 2<) .otal =ilai > >.1.1 >.1.* Share and voting +ights Do the company@s ordinary or common shares have one vote for one share) ?here the company has more than one class of shares" does the company pu lish the voting rights attached to each class of shares (e.g. through the company #e site / reports/ the stock e:change/ the regulator@s #e site&) Does each resolution in the most recent A'( deal #ith only one item" i.e." there is no undling of several items into the same resolution) Are the company@s notice of the most recent A'(/circulars fully translated into 8nglish and pu lished on the same date as the local0language version) Are the profiles of directors/commissioners (at least age" qualification" date of first appointment" e:perience" and directorships in other listed companies& in seeking election/re0election included ) Are the auditors seeking appointment/re0appointment clearly identified) Has an e:planation of the dividend policy een provided) ;s the amount paya le for final dividends disclosed)

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>.*.1 >.*.* >.*.$ >.*.1 >.*.2 >.*.3 >.*.4

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Documents required to e pro:y/ ?ere the pro:y documents made easily availa le) >.$.1 Does the company have policies and/or rules prohi iting directors/commissioners and employees to enefit from kno#ledge #hich is not generally availa le to the market) >.$.* Are the directors and commissioners required to report their dealings in company shares #ithin $ usiness days >.1.1 Are the directors and commissioners required to disclose their interest in transactions and any other conflicts of interest) >.1.* Does the company have a policy requiring a committee of independent directors / commissioners to revie# material / significant +P.s to determine #hether they are in the est interests of the company and shareholders) >.1.$ Does the company have a policy requiring oard mem ers (directors/commissioners& to a stain from participating in the oard discussion on a particular agenda #hen they are conflicted) >.1.1 Does the company have policies on loans to directors and commissioners either for idding this practice or ensuring that they are eing conducted at arm@s length asis and at market rates) >.2 Protecting minority shareholders from a usive actions . >.2.1 ?ere there any +P.s that can e classified as financial assistance to entities other than #holly0o#ned su sidiary companies) >.2.* Does the company disclose that +P.s are conducted in such a #ay to ensure that they are fair and at arms@ length) .otal =ilai D D.' D.1.1 Pengungkapan dan .ransparansi Tran$(aran$i $tru)tur )e(emili)an Apakah informasi mengenai kepemilikan saham mengungkapkan identitas dari

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D.1.* D.1.$ D.1.1 D.1.2 D.*. D.*.1 D.*.* D.*.$ D.*.1 D.*.2 D.*.3 D.*.4 D.*.5 D.*.6 D.*.1% D.*.11 D.*.1* pemilik menguntungkan" pemegang saham 2< atau le ih) Apakah perusahaan mengungkapkan kepemilikan saham langsung dan tidak langsung (dianggap& dari pemegang saham utama dan / atau su stansial) Apakah perusahaan mengungkapkan kepemilikan saham langsung dan tidak langsung (dianggap& dari para direktur (komisaris&) Apakah perusahaan mengungkapkan kepemilikan saham langsung dan tidak langsung (dianggap& dari senior manaAemen) Apakah perusahaan mengungkapkan secara detail mengenai induk perusahaan" anak perusahaan" asosiasi" Aoint venture dan special purpose enterprises/vechicle (SP8s& / (SPBs& Kualita$ +a( ran ta"unan +esiko kunci 9 Aektifitas perusahaan ;ndikator kinerAa keuangan perusahaan ;ndikator kinerAa non0keuangan perusahaan Ce iAakan pem agian deviden +incian ke iAakan #histle0 lo#ing >iografi detil dari direksi/komisaris (paling tidak usia" kualifikasi" tanggal pengangkatan pertama" pengalaman yang relevan" dan Aa atan direktur lain di perusahaan terdaftar lainnya&. Pelatihan dan/atau program pendidikan erkelanAutan yang diikuti direktur/ komisaris Dumlah pertemuan yang dilakukan direksi/ komisaris selama tahun periode erAalan. +incian kehadiran masing0masing direksi/ komisaris sehu ungan pertemuan yang diadakan. +incian remunerasi 789 dan masing0masing anggota de#an direksi/komisaris. Apakah laporan tahunan memuat pernyataan yang menyatakan kepatuhan perusahaan dengan aturan tata kelola perusahaan dan Aika terdapat ketidakpatuhan" identifikasi dan Aelaskan alasan untuk setiap masalah terse ut) Apakah perusahaan mengungkapkan ke iAakan yang meliputi peninAauan dan persetuAuan atas +P. yang material/signifikan) Apakah perusahaan mengungkapkan nama pihak terkait dan hu ungannya untuk setiap +P. yang material/signifikan) Apakah perusahaan mengungkapkan sifat dan nilai untuk masing0masing +P. yang material/signifikan Ke(emili)an Sa"am K mi$ari$ #an Dire)$i #alam Peru$a"aan Apakah perusahaan mengungkapkan perdagangan saham perusahaan oleh pihak dalam) Au#it r E)$ternal #an +a( ran Au#it Apakah terdapat pengungkapan fee auditor) Apakah iaya non0audit diungkap) Apakah iaya non0audit mele ihi iaya audit) A(a)a" (eru$a"aan men&&una)an met #e ter$ebut untu) ) muni)a$i0 Eaporan Per Cuartal ?e site perusahaan Analyst@s >reifing (edia >riefings/konferensi pers Kete(atan 2a)tu terbitn3a la( ran )euan&an4ta"unan Apakah laporan keuangan tahunan yang telah diaudit ter it dalam 1*% hari dari tanggal tutup uku) Apakah laporan keuangan tahunan yang telah diaudit ter it dalam 6% hari dari tanggal tutup uku) % % % 1

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D., D.$.1 D.$.* D.$.$ D.D.1.1 D.. D.2.1 D.2.* D.2.$ D./ D.3.1 D.3.* D.3.$ D.3.1 D.1 D.4.1 D.4.*

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D.4.$ Apakah laporan keuangan/tahunan yang telah diaudit ter it dalam 3% hari dari tanggal tutup uku) D.4.1 Apakah ke enaran dan ke#aAaran dari gam aran laporan kauangan dikukuhkan oleh de#an direksi/komisaris dan/atau peAa at yang relevan di perusahaan) D.5 ?e site Perusahaan Apakah memiliki #e site yang mengungkapkan informasi terkini se agai erikut D.5.1 9perasi >isnis D.5.* Eaporan Ceuangan (current and prior years& D.5.$ (ateri yang disediakan dalam pengarahan kepada analis dan media D.5.1 Struktur pemegang saham D.5.2 Struktur group perusahaan D.5.3 Eaporan keuangan yang isa di unduh D.5.4 Pem eritahuan +FPS dan/atau +FPSE> D.5.5 Constitusi perusahaan (perusahaan secara hukum" memorandum dan artikel dari asosiasi D.5.6 Semua informasi diatas (D.5.1 sampai D.5.5& tersedia dalam ahasa inggris D.5 Hubun&an In6e$t r D.6.1 Apakah perusahaan mengungkapkan rincian kontak (misalnya nomor telepon" fa:" dan email& dari peAa at yang ertanggung Aa#a untuk hu ungan investor) .otal =ilai 8 E.' 8.1.1 8.1.* 8.1.$ E.* 8.*.1 8.*.* 8.*.$ 8.*.1 E., 8.$.1 E.8.1.1 8.1.* 8.1.$ 8.1.1 8.1.2 8.1.3 8.1.4 8.1.5 E.. 8.2.1 +esponsi ilities of the >oard Clearl3 #e!ine# b ar# re$( n$ibilitie$ an# 7 r( rate & 6ernan7e ( li73. Are the roles and responsi ilities of the oard of directors/commissioners clearly stated) Are the types of decisions requiring oard of directors/commissioners@ approval disclosed) Does the company disclose its corporate governance policy / oard charter) C #e ! et"i7$ r 7 n#u7t Does the company have a code of ethics or conduct) Are the details of the code of ethics or conduct disclosed) Does the company disclose that all directors/commissioners" senior management and employees are required to comply #ith the code) Does the company disclose ho# it implements and monitors compliance #ith the code of ethics or conduct) C r( rate 8i$i n4Mi$$i n Does the oard of directors/commissioners periodically revie# and approve the vision and mission and has done so at least once during the last five years) B ar# Stru7ture 9 C m( $iti n Does the oard of directors/ commissioners comprise at least five mem ers and no more than 1* mem ers) (i.e." et#een 2 0 1* mem ers& Do independent" non0e:ecutive directors/commissioners num er at least three and make up more than 2%< of the oard of directors/commissioners) Does the company provide a definition of independence in its Annual +eport) Are the independent directors/commissioners independent of management and maAor/ su stantial shareholders) Does the company have a term limit of nine years or less for its independent directors/commissioners) Has the company set a limit of five oard seats in pu licly0listed companies that an individual director/commissioner may hold simultaneously) Does the company have any independent directors/commissioners #ho serve on more than five oards of pu licly0listed companies) Does the company have any e:ecutive directors #ho serve on more than t#o oards of listed companies outside of the group) S)ill$ an# C m(eten7ie$ Does at least one non0e:ecutive director/commissioner have prior #orking e:perience in the maAor industry the company is operating in) % 1

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8.2.* E./ 8.3.1 8.3.* 8.3.$ 8.3.1 8.3.2 E.1 8.4.1 8.4.* 8.4.$ 8.4.1 8.4.2 E.: 8.5.1 E.5 8.6.1 E.'; 8.1%.1 8.1%.* 8.1%.$ E.'' 8.11.1 8.11.* 8.11.$ 8.11.1 8.11.2 8.11.3 8.11.4 E.'* Does the company disclose a oard of directors/commissioners diversity policy) B ar# 7"airman Do different persons assume the roles of chairman and 789) ;s the chairman a non0e:ecutive director/commissioner) ;s the chairman an independent director/commissioner) ;s the chairman the current or immediate past 789) Are the role and responsi ilities of the chairman disclosed) B ar# meetin&$ an# atten#an7e Does the Annual +eport disclose that oard of directors/commissioners meetings are scheduled efore or at the eginning of the year) Does the oard of directors/commissioners meet at least si: times per year) Have all directors/commissioners attended at least 42< of all the oard meetings held during the year) Does the company disclose that there is a minimum quorum of at least */$ for oard of directors/commissioners meetings) Does the company disclose that the non0e:ecutive directors/commissioners of the company have met separately at least once during the year #ithout any e:ecutives present) Orientati n (r &ramme ! r ne2 #ire7t r$ Does the company disclose details of its orientation programme for ne# directors/commissioners) Dire7t r trainin& Does the company disclose that it provides ongoing or continuous professional education to its directors/commissioners) A77e$$ t in! rmati n Does the company disclose that oard papers for oard of directors/commissioners meetings are provided to the oard at least five usiness days in advance of the meeting) Does the company disclose the role and function of the company secretary) Does the company disclose the qualifications and e:perience of the company secretary) N minatin& C mmittee Does the company have a =ominating 7ommittee (=7&) 1 Does the =ominating 7ommittee comprise of a maAority of independent directors/commissioners) ;s the chairman of the =ominating 7ommittee an independent director/commissioner) Does the company disclose the terms of reference/governance structure/charter of the =ominating 7ommittee) Does the Annual +eport disclose the num er of =ominating 7ommittee meetings held) Did the =ominating 7ommittee meet at least t#ice during the year) ;s the attendance of mem ers at =ominating 7ommittee meetings disclosed) B ar# A(( intment$ an# Re<Ele7ti n 1 8.1*.1 Does the company disclose the criteria used in selecting ne# directors/commissioners) % 1 1 % % % % % % 1 %

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% 8.1*.* Does the company disclose the process follo#ed in appointing ne# directors/commissioners) Are all the directors/commissioners su Aect to re0election at least once every three years) CEO4E=e7uti6e Mana&ement A(( intment$ an# Per! rman7e Does the company disclose ho# the oard of directors/ commissioners plans for the succession of the 789/ (anaging Director/President and key management) Does the oard of directors/ commissioners conduct an annual performance assessment of the 789/(anaging Director/ President)
Board Appraisal

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8.1$.1

8.1$.*

E.14

8.11.1 8.11.* 8.11.$ E.'. 8.12.1 8.12.*

8.12.$
E.16 E.16.1

;s an annual performance assessment conducted of the oard of directors/commissioners) Does the company disclose the process follo#ed in conducting the oard assessment) Does the company disclose the criteria used in the oard assessment) Dire7t r A((rai$al ;s an annual performance assessment conducted of individual director/commissioner) Does the company disclose the process follo#ed in conducting the director/commissioner assessment) Does the company disclose the criteria used in the director/ commissioner assessment)
Committee Appraisal Is an annual performance assessment conducted of the board of directors/commissioners committees? Remuneration Committee/ Compensation Committee

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E.17

8.14.1 8.14.*

Does the company have a +emuneration 7ommittee) Does the company disclose the process follo#ed in conducting the director/commissioner assessment)

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8.14.$ 8.14.1 8.14.2 8.14.3 8.14.4
E.18 E.18.1 E.18.( E.18.) E.18.+ E.19 E.1,.1 E.1,.( E.1,.) E.1,.+ E.1,./ E.1,.6 E.1,.2 E.1,.8 E.1,., E.20 E.(3.1 E.(3.( E.(3.) E.21 E.(1.1 E.(1.( E.(1.)

;s the chairman of the +emuneration 7ommittee an independent director/commissioner) Does the company disclose the terms of reference/ governance structure/ charter of the +emuneration 7ommittee) Does the Annual +eport disclose the num er of +emuneration 7ommittee meetings held) Did the +emuneration 7ommittee meet at least t#ice during the year) ;s the attendance of mem ers at +emuneration 7ommittee meetings disclosed)
Remuneration Matters Does the company disclose its remuneration (fees, allowances, benefit in !ind and other emoluments" policy (i.e. the use of short term and lon# term incenti$es and performance measures" for its e%ecuti$e directors and &E'? Is there disclosure of the fee structure for non e%ecuti$e directors/commissioners? Do the shareholders or the *oard of Directors appro$e the remuneration of the e%ecuti$e directors and/or the senior e%ecuti$es? Do independent directors/commissioners recei$e options, performance shares or bonuses? Audit Committee Does the company ha$e an -udit &ommittee? Does the -udit &ommittee comprise entirely of non e%ecuti$e directors/commissioners with a ma.ority of independent directors/commissioners? Is the chairman of the -udit &ommittee an independent director/commissioner? Does the company disclose the terms of reference/#o$ernance structure/charter of the -udit &ommittee? Does the -nnual 0eport disclose the profile or 1ualifications of the -udit &ommittee members? Does at least one of the independent directors/commissioners of the committee ha$e accountin# e%pertise (accountin# 1ualification or e%perience"? Does the -nnual 0eport disclose the number of -udit &ommittee meetin#s held? Did the -udit &ommittee meet at least four times durin# the year? Is the attendance of members at -udit &ommittee meetin#s disclosed? Internal Audit Does the company ha$e a separate internal audit function? Is the head of internal audit identified or, if outsourced, is the name of the e%ternal firm disclosed? Does the appointment and remo$al of the internal auditor re1uire the appro$al of the -udit &ommittee? Ris !"ersi#$t Does the company disclose the internal control procedures/ris! mana#ement systems it has in place? Does the -nnual 0eport disclose that the board of directors/commissioners has conducted a re$iew of the company4s material controls (includin# operational, financial and compliance controls" and ris! mana#ement systems? Does the company disclose how !ey ris!s are mana#ed?

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