Good Corporate Governance (GCG) is the core of PT Kimia Farma Trading & Distribution’s management practices. As part of Kimia Farma Group, KFTD tries to maintain its integrity by adhering to the GCG key principles, which then become the ultimate instrument for anti-corruption and anti-bribery efforts within KFTD.
Good Corporate Governance (GCG)
GCG refers to a management system consistent with the company’s core values as a business entity. GCG implementation is set to stimulate business growth and accountability and realize shareholders’ interests without neglecting the stakeholders in the long run. These interests include ensuring that the company is free from all sorts of misconduct, including, but not limited to, corruption and bribery.
GCG Key Principles
According to the KFTD code of corporate governance (COCG), five GCG key principles were integrated into the company’s business operations:
1. Transparency
KFTD ensures the availability and accessibility of relevant information about the company, including, but not limited to, company profiles, financial reports, goals, and strategies. However, KFTD still retains the right to keep and protect sensitive and classified information.
2. Accountability
KFTD ensures that integrity and responsibility are always present in every role inside the company by adhering to strict standards that reflect the company’s values.
3. Responsibility
KFTD vowed to conform to Indonesian law and regulations as a business entity operating in the country. KFTD also vowed to fulfill its obligation to the environment and the people of Indonesia.
4. Independence
Any decisions taken by KFTD management are made with professionalism, objectivity, and full independence without third-party intervention. No single organ of the company holds dominance over each other, nor can they intervene in each other’s affairs.
5. Equality and Fairness
According to Indonesian law, the company treats all stakeholders and shareholders equally. The stakeholders and shareholders will receive fair compensation for their contribution to KFTD.
These five GCG key principles upheld by KFTD became the ultimate instrument to prevent corruption and bribery.