Good Corporate Governance

Corporate Governance Structure

Badak LNG implements a structure of Good Corporate Governance that is generally applicable to limited liability companies in Indonesia. Such a structure consists of a General Meeting of Shareholders as the supreme organ of the Company, followed by the Board of Commissioners (BOC) and Board of Directors.

 

The General Meeting of Shareholders (GMOS) has the highest and ultimate authority in the corporate governance structure, in accordance with the Limited Liability Company Law No. 40/2007. The GMOS has power of attorney that is not retained by the Board of Directors nor by the Board of Commissioners.

 

The Board of Commissioners is the organ in charge of monitoring the course of the Company in accordance with its Articles of Association, as well as providing advice to the Board of Directors. While the Board of Directors is the organ fully responsible for running the Company to achieve its purposes and objectives, and for representing the Company for various purposes. The Board of Directors has established committees and special functions, such as Internal Audit, Ethics Committee, Investigation Committee, and GCG Committee. Assisted by these bodies and functions, the Board of Directors oversees, evaluates, and measures the performance of the Company and its achievements in various fields, including the Company’s compliance with rules and regulations relevant to its business and operations