PT Lenox Pasifik Investama Tbk is firmly committed to good corporate governance as the foundation of a sustainable business, and believe it is a critical element in creating shareholder value, while always placing importance on balance in the interests of all its stakeholders.
Implementation of GCG in PT Lenox Pasifik Investama Tbk, GCG is derived from solid internal controls and high ethical standards, and coupled with a consistent policy that the Company created, allows PT Lenox Pasifik Investama Tbk to enhance its corporate governance in line with the country’s best practices to achieve the following objectives:
- To maximize the Company’s value through improved implementation of GCG principles across all of its activities;
- To assist in generating a more professional and independent management that will maintain the Company’s image;
- To cultivate a decision-making process that stems from high ethical standards in compliance with prevailing laws and regulations.
- To provide better opportunities to surrounding communities through the Corporate Social Responsibility (CSR) program.
The quality systems of PT Lenox Pasifik Investama Tbk are based upon principles of transparency, accountability, responsibility, independence and fairness.
PT Lenox Pasifik Investama Tbk management continues to maintain and improve proper transparency practices in its financial reports, corporate actions and policies, as well as in other materials released regarding its activities. Management believes that this will sustain and enhance stakeholders’ trust in the Company and is in its long term best interests.
Relevant information, both financial and non-financial, is made easily accessible and is comprehensive enough for stakeholders to draw a complete picture of the Company’s standing.
PT Lenox Pasifik Investama Tbk is fully committed to the transparency principle by distributing key information as required by prevailing regulations, distributing public information through the IDX Net facility provided by the Indonesian Stock Exchange, also through newspaper announcements, and public exposes held annually.
All information regarding the Company’s activities and developments are available through the website: www.lenox-pasifik.co.id, which is updated regularly for access by the public, investors and shareholders alike. The website also facilitates downloading of the Company’s Annual Reports & Financial Statements.
The Company implements the principle of accountability by separating function, authority and responsibility of each organ in the Company, which consist of the General Meeting of Shareholders (GMS), Board of Commissioners (BOC), and Board of Directors (BOD). Their respective authorities are enumerated in the Articles of Association of the Company.
The BOC and the committees set up to assist the BOC, namely the Audit Committee and the Remuneration Committee, are designed to maintain the balance between management and the shareholder’s interest.
The Company abides by prevailing regulations and establishes its esponsibility towards the public and the environment in order to achieve long term business sustainability and to be recognized as a good corporate citizen.
Apart from its main responsibility to the shareholders and investors, the Company extends its responsibility to society, employees, customers and to the environment. PT Lenox Pasifik Investama Tbk expresses its appreciation to society, particularly the surrounding communities within the Company’s direct environment, by demonstrating its corporate social responsibility (CSR) through its community development, which is presented in the CSR section of this Annual Report. The Company’s sustainability is linked to all of its employees. Through the HR Division, the Company maintains training programs to empower and develop its employees, and to cultivate employees with outstanding skill and leaders with competence and integrity.
To boost excellence in performance, the Company adopts the meritocracy system that rewards employees’ contribution and good.
The application of CGC principles entails the independent and professional management of a company, PT Lenox Pasifik Investama Tbk has ensured that the fund management division is managed independently by professionals to meet demands and expectations of domestic markets while keeping in line with prevailing GCG principles. On top of this, the Company’s code of Conduct serves as a guideline to work and act for all of the Company’s members and carries a section that specifically discusses independence and conflict of interest, ensuring that conflict of interest can be avoided at all times and decisions can be made objectively.
The company is required to provide the equitability for all the shareholders, either the major shareholder or the minor and ensure that the shareholders and stakeholders have the same rights.
Therefore, the Company always provides the same opportunity in voting in the AGM for all shareholders;
Besides that, the Company also provides the same opportunity to all employee by providing regularly training, seminar, or workshop for all levels.