IICD Awarded Corporate Governance Award to Large and Medium Capital Issuers

By : Abraham Sihombing | Tuesday, June 01 2021 - 17:20 IWST

The former 11th Vice President of the Republic of Indonesia, Prof. Dr. Budiono, gave a closing remark at the event "The 12th IICD CG Award" which was held offline at the Ballroom Financial Hall, Jakarta, Monday (31/05/2021). (Photo: Abe)
The former 11th Vice President of the Republic of Indonesia, Prof. Dr. Budiono, gave a closing remark at the event "The 12th IICD CG Award" which was held offline at the Ballroom Financial Hall, Jakarta, Monday (31/05/2021). (Photo: Abe)

INDUSTRY.co.id - Jakarta - By implementing strict health protocol standards, the Indonesian Institute for Corporate Directorship (IICD) finally held "The 12th IICD CG Award" which was held offline at the Ballroom Financial Hall, Jakarta, on Monday (31/05/2021).

The standard health protocols implemented are the capacity limit of participants who attend to only 25% of the building capacity, disinfecting rooms and equipment before the event starts, providing rapid antigen tests for all crew, journalists, committees and all invited guests present.

Besides, the participants when they are participating in the event are also required to maintain a distance, wear masks, and use hand sanitizers provided by the organizing committee in several places. The event was also supervised by the Covid-19 Task Force for the Health and Safety of the committee and participants.

"The 12th IICD CG Conference and Award" event was held again in 2021 after being postponed on the previous year due to the Covid-19 pandemic. Before the pandemic, the event was an annual event. This year, the event was held in 2 (two) separate parts, namely the IICD CG Conference with the theme "The 10th ACGS Implementation: Road to ESG in Indonesia" which was held online and "The 12th IICD CG Award" which was held offline at the Financial Ballroom. Hall, Jakarta.

This year, at the “The 12th IICD Corporate Governance Awards”, IICD gives awards again to issuers who have implemented good corporate governance (GCG) practices in a year before dan have no relation to serious cases that contradict the principles of GCG.

Giving appreciation to issuers with the best CG practices (BigCap & MidCap) is divided into 10 categories, namely: 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, which are announced at the peak of the event.

There are two groups assessed, namely 100 issuers with the largest market capitalization (Big Cap) and 100 issuers with medium market capitalization (MidCap). As for the use of the assessment method is based on the new Asean CG Scorecard which has begun to be implemented since 2011.

This assessment was carried out by 10 qualified IICD assessors. The results of the assessment of these 200 issuers were previously presented by Dr. James Simanjuntak at the IICD CG Conference entitled "The 10th ACGS Implementation: Road to ESG in Indonesia" which was held, Thursday (27/05/2021).

Chairman of IICD, Sigit Pramono, said that the highlight of the IICD CG Award event was marked by the awarding of the best 24 issuers with high capitalization, 24 best issuers with medium capitalization, and 50 issuers who won the title of TOP 50 Companies with Best Corporate Governance practices in Indonesia.

In the IICD CG Awards event which was held offline, Prof. Dr. Boediono who delivered closing remarks before the announcement of Best Overall BigCap & MidCap.

At the event, three large market capitalization issuers, namely PT Bank CIMB Niaga Tbk (BNGA), PT Unilever Indonesia Tbk (UNVR), and PT Bank Rakyat Indonesia (BBRI) received awards in the category of “The Best Overall ".

Three issuers with middle market capitalization, namely PT Adira Dinamika Multi Finance Tbk (ADMF), PT Semen Baturaja Tbk (SMBR) and PT BFI Finance Indonesia Tbk (BFIN) also received awards in the "The Best Overall" category.

Meanwhile, the three state-owned companies (BUMN) with large capitalization, namely PT Bank Negara Indonesia Tbk (BBNI), PT Aneka Tambang Tbk (ANTM), and PT Wijaya Karya Tbk (WIKA) were awarded "The Best State Owned Enterprise".

Finally, PT PP Tbk (PTPP) and PT Timah Tbk (TINS) received "The Best State Owned Enterprise" award for the category of medium-capitalized BUMN issuers. (Abraham Sihombing)

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