Good Corporate Governance
PEPC implements good corporate governance (GCG) in a disciplined manner and upholds the values of integrity in all of its business activities. At PEPC, the practice of implementing GCG is always adjusted to the latest developments while still supporting PEPC’s goals.
- Manual Board
- Code of Conduct
- Gratuity Policy
- Guidelines regarding Gratification, Rejection, Acceptance, Giving Gifts/Souvenirs, and Entertainment (Entertainment) of PT Pertamina (Persero) ratified by PEPC. These guidelines can be read here.
- Guidelines on the Giving and Receiving of Souvenirs and Hospitality. These guidelines can be read here.
- GCG Implementation Guidelines
- Conflict of Interest Policy
PEPC periodically audits the implementation of GCG, either by appointing an independent assessor or by self-assessment.In 2014 – 2020 the value of PEPC’s GCG implementation shows the “Good” category.
|Fiscal year||Mechanism||Assessment Aspect||Score||Quality|
|A (7,00)*||B (9,00)*||C (35,00)*||D (35,00)*||E (9,00)*||F (5,00)*|
- Commitment to the implementation of Good Corporate Governance on an ongoing basis.
- Shareholders and GMS/capital owners.
- Board of Commissioners.
- Information Disclosure and Transparency.
- Another aspect.
|Governance Aspect||Weight||Score||Achievements (%)||Explanation|
|Commitment to Sustainable Implementation of Good Corporate Governance||7,00||6,29||89,85||Very good|
|Shareholders and GMS||9,00||7,54||83,73||Good|
|Board of Commissioners||35,00||29,87||85,34||Very good|
|Information Disclosure and Transparency||9,00||7,18||79,73||Pretty Good|
Whistle Blowing System
The Whistle Blowing System (WBS) is a system that provides a means for stakeholders to make complaints regarding alleged violations that occurred in the Company. The WBS used by PEPC is integrated into one with PT Pertamina (Persero) WBS which can be accessed via the following link — Whistleblowing Reporting System | Pertamina
The management of the WBS is carried out with the principle of confidentiality, anonymity and independence. Each incoming complaint is received by an independent consultant who will analyze and request more detailed information from the complainant to be submitted to Pertamina. Furthermore, Pertamina will follow up on the complaint, in accordance with the applicable provisions in the Company.
PEPC is committed to a healthy business climate and upholds anti-corruption principles, by implementing the Anti-Bribery Management System (ISO 37001:2016 SMAP) and was certified on 23 December 2019 and the first surveillance audit on 27 October 2020.
To ensure its effectiveness, all PEPC personnel are given induction training related to GCG and anti-corruption. All PEPC personnel are also required to fulfill GCG Implementation Compliance KPIs, one of which is by carrying out GCG socialization, filling out monthly gratification reports, COI, COC and LHKPN.
All PEPC personnel have the obligation to report through the Compliance Online System. This is done to meet the GCG KPI Boundary which consists of:
- Filling of gratuities (performed every month).
- COC filling (done once a year).
- COI filling (done once a year).
- Filling out LHKPN (performed every 2 years or mutation).
- GCG socialization.
The above matters are regulated in the Guidelines for Submission of Reports on the Compliance Program through the Compliance Online System of PT Pertamina (Persero), which has also been ratified by PT Pertamina EP Cepu.
The guidelines can be read here.