Good Corporate Governance
In the midst of intense business competition, the implementation of Good Corporate Governance (GCG) is non-negotiable. GCG is the exemplary corporate governance principle that is developing around the world. As a company with high goals, World Trans has started to continuously implement GCG since its foundation.
Following the era of information disclosure, there is a rise in the need for data and information, resulting in the increasingly complex business competition. Business management is not merely based on intuition and hard work, rather, in order to determine the precise action to take, data, information, and innovation are also important factors to consider. The role of GCG is as a basis in competing in the global competition.
In running the company, World Trans upholds the motto “Action for Excellence”, which emphasizes the company’s belief that hard work is needed to produce the best. World Trans continues to contribute to the development of the national economy through the Logistics operation and Transportation services in Indonesia.
PRINCIPLES OF GCG
The GCG concept recognized and implemented by World Trans are those fitting with its vision and goals. Each division and functioning link of the company is responsible towards the implementation of GCG. The general principles of GCG are as the following:
These principles are adapted by World Trans into:
Transparency in Tasks and Financial Reports
Information disclosure as a part of transparency is realized through the clarity of task details and responsibilities of each World Trans employee, which was created accordingly to the vision and purposes, values, and goals of World Trans. Material information can be directly, clearly, and objectively provided by World Trans be it needed in the annual financial report accordingly to the affective regulations.
Accountability in Internal Supervising System
The internal supervising system at World Trans is the supervision of all World Trans activities. This supervising process applies to all units within World Trans. The internal supervising system applies to authority, authorization, verification, reconciliation, performance evaluation, division of duties, and the security of company assets.
Responsibility in Business Ethics and Work Ethics
Each World Trans employee must endeavor to comply with the principles of business ethics and work ethics, or the code of conducts which are the norms and values that are set as the standard of every World Trans employee’s conduct. These norms and values can help sustain the company’s good name in the public eye. For that reason, the company’s ethical code must be consistently applied to every activity carried out by World Trans.
In arranging the code of conduct, World Trans has made sure to align its content with the company’s vision, mission, and corporate culture, so as to support the synergy between the activities in World Trans, its budgets, and the affective regulations.
Compliance towards the code of conduct will establish a good corporate culture and integrity with all World Trans relations. The Company’s code of conduct is set in a separate document which is disclosed and flexible, hence can be refined accordingly to the change and relevance of times. The Board of Directors are allowed to evaluated the code of conduct through a team by which they have formed.
Prevention of a Conflict of Interest for the Sake of Independency
A conflict of interest is a situation where an individual or a company has the power to exploit a certain interest due to the position or authority of that said individual or company. In relation to World Trans business activities, a conflict of interest is a conflict between personal interest and general obligation or professional obligation.
Related to conflict of interest, the Board of Commissioners, the Board of Directors, and all World Trans personnel are not allowed to perform any action that results to a conflict of interest with World Trans, among others:
- Receiving and/or accepting Gratification.
- Taking personal profit.
- Carrying out duplicate work with a third party that has financial ties to World Trans, and therefore may cause material loss for World Trans.
- Article No. 40 Year 2007 on Limited Liability Company.
- Articles of Association are contained in Decree No. 2 dated August 6, 2013, which has been approved by the Decree of the Minister of Justice and Human Rights of the Republic of Indonesia No. AHU- 0054821.AH.01.09 dated August 24, 2009 on Legal Entitlement of Company.
Upholding Integrity as a Means of Fairness
A quality company that displays the spirit of honesty or integrity is needed in maintaining good relations between World Trans and its Shareholders and stakeholders. By maintaining a working environment that is professional, honest, open, caring, and responsive towards inevitable change, a synergy between World Trans, the Shareholders, and stakeholders will be created. In order to maintain the integrity in the management of World Trans, appropriate actions in running, directing, and controlling the business activities in World Trans is required. Existing problems related to World Trans business activities are wisely resolved with high integrity.
THE GOALS OF GCG IMPLEMENTATION
The GCG principles are implemented as the bases for World Trans in carrying out their activities and responsibilities. The implementation of the GCG is expected to guide World Trans to go accordingly with its vision and mission. The goals of implementing GCG are as follows:
- The achievement of World Trans business continuity through a management based on transparency, accountability, responsibility, independency, and fairness.
- Encouraging World Trans Organs in making decisions and carrying out their actions based on good moral value while abiding to the Articles of Association and affective regulations.
- Ensuring the management of World Trans to be more professional, transparent, efficient, and putting into use the function of the World Trans work structure.
- Improving the image of World Trans in order to achieve national competitiveness with the means to increase market trust to enhance investment flow and sustainable national economic growth.
2016 – GCG socialization in accordance with the board structure manual
2017 – Implementation of GCG in all World Trans operational area
2018 – Assessment of GCG from both internal and independent parties