Good Corporate Governance
Global condition has been marked by the increasing of democratization and decentralization which focus to the importance of competition enhancement in many fields. The competition enhancement as a competitive leverage is believed as a success key in winning the competition in globalization era. The main factor of competitiveness determinant is an efficient service process with a precision quality and public policy in governance system in various sectors. Therefore, the Good Corporate Governance (GCG) principles implementation is going to be a strong foundation for Bio Farma in their endeavor to increase their competitiveness in various aspects in local, regional, national and global levels.
Board of Commisioners, Board of Commisioners Supporting Ogan, Board of Directors and allemployees are strongly committed to implement GCG. GCG has turned into basic philosophy embedded in Bio Farma employees’ attitude, manner, mindset and way of work. Through GCG, Bio Farma is capable to bulid their own image and reputation as an excellent and dignified Company with Company culture consisted of professional, intgirty, team workd and customer oriented.
The realization of GCG are enable Bio Farma to optimize Company value, to increase Company contribution in national economic and to increase condusive climate in Company environment. This can be seen in 2016 Bio Farma ExcellencePerformance Assessment Criteria (KPKU) of 510.25 or 9.26% or 43.25 point increase comparing to 2015 scor of 467. With such score improvement, Bio Farma category classification has been changed into Good Performance comparing to prior classification as Early Improvement. Such scor improvement conducted by Forum Ekselen BUMN (FEB) has been a evident that governance in Bio Farma has been improved and effective, therefore the Company performance has been improved as well.
Prinsip Dasar GCG
The openness in disclosing materials and relevant information about the Company.
The explication of function, the execution and the organ responsibility so that management of the company is done effectively.
The conformance in the management of the company regarding the regulations and the principles of a healthy corporation.
A state in which the company is professionally managed without conflict of interest and intervention or pressure from any parties that is not in accordance with the laws and principles of a healthy corporate.
Namely justice and equality in fulfilling the rights of stakeholders arising based on agreement and regulations.
The governance structure of Bio Farma is based on Law Number 40 of 2007 of Limited Liability Companies. Each company organ consists of three elements: shareholders via the General Meeting of Shareholders (GMS) as the highest decisionmaking forum for the company’s shareoholders, Board of Commissioners to supervise the Company’s operations, and Directors to manage day-to-day operations of the Company.The Board of Commissioners and Directors authorities and responsibilities are clearly outlined in the bylaws of the company and prevailing regulations.
Regarding to Company Organ, both Board of Commissioners and Board of Directors have their clear authorities and responsibilities which are aligned with their respective functions as mandated in Company Article of Association and prevailing rules and regulations. Both Board of Commissioners andBoard of Directores are responsible to maintain long tem sustainability of Bio Farma, Therefore, Board of Commissioners and Board of Directors are required to have same perceptions about Company philosophy, vision, mission and values.
Bio Farma GCG Framework
GCG is the basic philosophy that is inherent in the attitude, behavior, and way of working of every Bio Farma employee. Through GCG Bio Farma is able to build its image and reputation as a superior company.
Bio Farma GCG Roadmap
In improve the quality of GCG implementation, the management has established the GCG Roadmap 2006-2018 consisting of four phases and in harmony with the five-year Long-term Company Plan (LTCP).The end result is becoming a global company whose strategies are based on Global CSR approaches aimed at Good Sustainability Citizenship.
The results of GCG Implementation Self Assessment
In 2018, PT Bio Farma (Persero) has assessed the implementation of Good Corporate Governance in the 2016 period by the BPKP Representative Office of West Java Province. The assessment results for the 2017 were :