Good Corporate Governance (GCG) is a key factor for underpinning the integrity and efficiency of a company. It indicates the pattern of relationship among the Management, the Stakeholders, and also the Shareholders. Therefore, PT Siloam International Hospitals Tbk implements GCG is not only for regulation compliance, but also as an important thing in running the Company’s business in order to maintain sustainable business growth, increase the value of the Company as well as the efficiency of managing the Company.
The Company continues to implement the 5 GCG principles by Organisation for Economic Co-Operation and Development (OECD), which are: Transparency, Accountability, Responsibility, Independence, and Fairness as explained more below:
Transparency means openness and a willingness by the Company to provide clear information to shareholders and other stakeholders. In order to maintain objectivity in performing business, the Company provides Financial Statement, Investor Information, and other materials or relevant information which have been stored in company website www.siloamhospitals.com, to ease Shareholders, Stakeholders, and the public to access the data; as well as written in every Annual Report of the Company. Those informations are disclosed in a timely, adequately, accurately, and clearly.
This principle refers to the responsibility of the Management to the Shareholders and other stakeholders regarding Company’s objectives, strategies, and achievements. Accountability is required to maintain consistency in performing duties. It also entails the Management to provide reports of all Company’s activities and decisions, especially in financial administration to the Board, Shareholders, and interested parties. The Management should also reveal if any unachieved goals and the reason.
Responsibility is to show the conformity and compliance of the Company’s management with the applicable rule of laws and regulations. It is implemented through various seminars and workshops for every level of employees. It shows the same opportunity to grow together in the Company. Furthermore, as a good corporate citizen, the Company also implements its responsibility toward sustainablity of the environment, public welfare and healthy living.
Independence refers to the Company’s action in managing its business in a professional manner without any conflict of interest and influences or presssure from any party that is in contravention with the laws and regulations. It shows every decision which is made by the Company is objective by considering many aspects but free from pressure of any third parties.
In this principle, the Management 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 stakeholders by providing regularly training, seminar, or workshop for all levels.