Bukit Asam consistently applies the fundamental principles of good corporate governance, which include transparency, accountability, responsibility, independence, and fairness in all operational activities. A genuine commitment to GCG principles is reflected through the following:
The Company ensures the disclosure of material and relevant information regarding performance, financial condition, and other information in a clear, adequate, accurate, comparable, timely, and easily accessible manner for stakeholders in accordance with their rights.
The Company ensures clarity of functions, implementation, and accountability at every level of the organization, enabling effective management of the Company.
The principle of responsibility is implemented by consistently adhering to applicable laws and regulations, managing post-mining environments properly, fulfilling reciprocal obligations to business partners, and designing and implementing corporate social responsibility programs.
The principle of independency is applied through the development and enforcement of a code of ethics and the regulation of all transactions and investment plans that involve or have the potential to involve conflicts of interest.
The Company applies the principle of fairness by treating all stakeholders equally, maintaining a balance between the rights and obligations granted to and by the Company (equal treatment).
Law Number 40 of 2007 concerning Limited Liability Companies (State Gazette of the Republic of Indonesia Year 2007 Number 106, Supplement to State Gazette Number 4756), as last amended by Government Regulation in Lieu of Law of the Republic of Indonesia Number 2 of 2022 concerning Job Creation (State Gazette of the Republic of Indonesia Year 2022 Number 238).
Regulation of the Minister of State-Owned Enterprises Number: PER-01/MBU/03/2013 concerning Special Assignments and the Corporate Social and Environmental Responsibility Program of State-Owned Enterprises.
Regulation of the Minister of State-Owned Enterprises Number: PER-02/MBU/03/2013 concerning Guidelines for Governance and Significant Corporate Activities of State-Owned Enterprises;
Regulation of the Minister of State-Owned Enterprises Number: PER-03/MBU/03/2013 concerning Organs and Human Resources of State-Owned Enterprises;
Financial Services Authority Regulation Number: 21/POJK.04/2015 of 2015 concerning the Implementation of Corporate Governance Guidelines for Public Companies;
ASEAN Corporate Governance Scorecard;
Indonesian General Corporate Governance Guidelines (PUG-KI) issued by the National Committee on Governance Policy in 2021.
The Guidelines for Implementing Good Corporate Governance at PT Bukit Asam (Persero) Tbk refer to the Joint Decree of the Board of Commissioners and Directors of PT Bukit Asam (Persero) Tbk Number 250E/0100/2023 and Number 13/SK/PTBA-DEKOM/XII/2023 dated December 21st concerning the Corporate Governance Policy of PT Bukit Asam (Persero) Tbk.
With the enactment and enactment of this Decree, the Joint Decree of the Board of Commissioners and Directors Number 07/SK/PTBA-DEKOM/IX/2020 and Number 397/0100/2020 concerning the Corporate Governance Policy of PT Bukit Asam (Persero) Tbk, along with other regulations except those stipulated in this Decree, are hereby revoked and no longer valid.
Bukit Asam mengikuti penilaian ASEAN Corporate Governance Scorecard sebagai bagian dari komitmen terhadap praktik tata kelola perusahaan yang transparan dan berstandar internasional.
The governance structure of Bukit Asam refers to Law Number 40 of 2007 concerning Limited Liability Companies. The company’s organs consist of three main elements: General Meeting of Shareholders (GMS) as the highest decision-making forum for shareholders, Board of Commissioners, responsible for supervising the management of the company, and Board of Directors, responsible for the overall operational execution of the company. Each organ performs its duties and functions independently in accordance with the principles of good corporate governance (GCG).
To support operational execution, the Board of Commissioners and Board of Directors establish sub-organs to ensure effective implementation of GCG principles. This structure also reflects a clear division of authority and responsibility.
To optimize its supervisory function, the Board of Commissioners is supported by several committees, including:
These committees assist the Board of Commissioners in carrying out its duties and formulating policies within their respective scopes.
The Board of Directors is also supported by several work units that play a vital role in implementing GCG and serve as working partners to the committees under the Board of Commissioners. These units report directly to the President Director and include:
These units are responsible for internal control, reporting, risk management, and the development of corporate management systems in alignment with good governance principles.
The Articles of Association serve as the legal guideline and primary foundation for conducting Bukit Asam’s business activities. This document regulates the organizational structure, the rights and obligations of the company's organs, and other key provisions that guide decision-making and operational processes. All amendments to the Articles of Association are carried out in accordance with applicable laws and regulations.
The Company Policy Manual is developed as an operational guideline to support the implementation of Good Corporate Governance (GCG) principles. This document outlines strategic policies and internal procedures that govern business ethics, risk management, internal control, and corporate social and environmental responsibility. The manual serves as a reference for all company personnel to act professionally, transparently, and accountably.
