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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Yanuar Pribadhie
Indonesia’s public companies need to be equal rivals to their competitors in neighboring countries when the ASEAN Economic Community (AEC) arrives in 2015. To that end, the Financial Services Authority (OJK) is preparing to issue 33 implementing regulations on good corporate governance (GCG) for public companies and issuers.
The OJK will gradually issue these regulations under a framework called the “GCG Roadmap”. According to Nurhaida, Executive for Capital Market Oversight at the OJK, 11 regulations will be issued this year, with a further eleven in 2015.
“Then the rest will be over a multi-years program,” said Nurhaida in Jakarta on Tuesday.
These regulations will cover the six main themes of company management frameworks, rights of shareholders, equal treatment of shareholders, role of stakeholders in company management, disclosure and transparency of the board of directors and commissioners, and the responsibility of the board of directors and commissioners.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, believes that this comprehensive GCG Roadmap will be an important factor in protecting Indonesia from a crisis when Indonesia enters the AEC.
“In 1998 and 2008, weak implementation of good corporate governance was a significant cause of the global financial crisis,” said Muliaman.
Ito Warsito, President Director of the Indonesia Stock Exchange, applauds OJK’s efforts in issuing the GCG Roadmap. He believes that this roadmap will improve Indonesia’s rank on the relevant GCG scorecard for ASEAN member countries on which Indonesia is now at the bottom.
“Indonesia uses an obsolete GCG regime which was issued in 2000. Global GCG has experienced many improvements since the 2008 crisis. If Indonesia doesn’t change its GCG, it is no wonder if Indonesia’s position stays at the bottom,” said Ito.
Airlangga Hartato, Chief of the Indonesian Issuers Association, hopes that the proposed regulations will not take a blanket approach in adopting international standards. Airlangga emphasizes the importance of maintaining certain Indonesian values and customs.
“For example, on the matter of salary disclosure of executives and commissioners, internationally speaking, it is okay to disclose that information. But for Indonesia, that will harm the public’s feelings as in most companies, the salary is still within the limit of regional minimum wages,” asserts Airlangga.
(hot/kc)
Indonesia’s public companies need to be equal rivals to their competitors in neighboring countries when the ASEAN Economic Community (AEC) arrives in 2015. To that end, the Financial Services Authority (OJK) is preparing to issue 33 implementing regulations on good corporate governance (GCG) for public companies and issuers.
The OJK will gradually issue these regulations under a framework called the “GCG Roadmap”. According to Nurhaida, Executive for Capital Market Oversight at the OJK, 11 regulations will be issued this year, with a further eleven in 2015.
“Then the rest will be over a multi-years program,” said Nurhaida in Jakarta on Tuesday.
These regulations will cover the six main themes of company management frameworks, rights of shareholders, equal treatment of shareholders, role of stakeholders in company management, disclosure and transparency of the board of directors and commissioners, and the responsibility of the board of directors and commissioners.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, believes that this comprehensive GCG Roadmap will be an important factor in protecting Indonesia from a crisis when Indonesia enters the AEC.
“In 1998 and 2008, weak implementation of good corporate governance was a significant cause of the global financial crisis,” said Muliaman.
Ito Warsito, President Director of the Indonesia Stock Exchange, applauds OJK’s efforts in issuing the GCG Roadmap. He believes that this roadmap will improve Indonesia’s rank on the relevant GCG scorecard for ASEAN member countries on which Indonesia is now at the bottom.
“Indonesia uses an obsolete GCG regime which was issued in 2000. Global GCG has experienced many improvements since the 2008 crisis. If Indonesia doesn’t change its GCG, it is no wonder if Indonesia’s position stays at the bottom,” said Ito.
Airlangga Hartato, Chief of the Indonesian Issuers Association, hopes that the proposed regulations will not take a blanket approach in adopting international standards. Airlangga emphasizes the importance of maintaining certain Indonesian values and customs.
“For example, on the matter of salary disclosure of executives and commissioners, internationally speaking, it is okay to disclose that information. But for Indonesia, that will harm the public’s feelings as in most companies, the salary is still within the limit of regional minimum wages,” asserts Airlangga.
(hot/kc)
Fathan Qorib, Yanuar Pribadhie
Indonesia’s public companies need to be equal rivals to their competitors in neighboring countries when the ASEAN Economic Community (AEC) arrives in 2015. To that end, the Financial Services Authority (OJK) is preparing to issue 33 implementing regulations on good corporate governance (GCG) for public companies and issuers.
The OJK will gradually issue these regulations under a framework called the “GCG Roadmap”. According to Nurhaida, Executive for Capital Market Oversight at the OJK, 11 regulations will be issued this year, with a further eleven in 2015.
“Then the rest will be over a multi-years program,” said Nurhaida in Jakarta on Tuesday.
These regulations will cover the six main themes of company management frameworks, rights of shareholders, equal treatment of shareholders, role of stakeholders in company management, disclosure and transparency of the board of directors and commissioners, and the responsibility of the board of directors and commissioners.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, believes that this comprehensive GCG Roadmap will be an important factor in protecting Indonesia from a crisis when Indonesia enters the AEC.
“In 1998 and 2008, weak implementation of good corporate governance was a significant cause of the global financial crisis,” said Muliaman.
Ito Warsito, President Director of the Indonesia Stock Exchange, applauds OJK’s efforts in issuing the GCG Roadmap. He believes that this roadmap will improve Indonesia’s rank on the relevant GCG scorecard for ASEAN member countries on which Indonesia is now at the bottom.
“Indonesia uses an obsolete GCG regime which was issued in 2000. Global GCG has experienced many improvements since the 2008 crisis. If Indonesia doesn’t change its GCG, it is no wonder if Indonesia’s position stays at the bottom,” said Ito.
Airlangga Hartato, Chief of the Indonesian Issuers Association, hopes that the proposed regulations will not take a blanket approach in adopting international standards. Airlangga emphasizes the importance of maintaining certain Indonesian values and customs.
“For example, on the matter of salary disclosure of executives and commissioners, internationally speaking, it is okay to disclose that information. But for Indonesia, that will harm the public’s feelings as in most companies, the salary is still within the limit of regional minimum wages,” asserts Airlangga.
(hot/kc)
Indonesia’s public companies need to be equal rivals to their competitors in neighboring countries when the ASEAN Economic Community (AEC) arrives in 2015. To that end, the Financial Services Authority (OJK) is preparing to issue 33 implementing regulations on good corporate governance (GCG) for public companies and issuers.
The OJK will gradually issue these regulations under a framework called the “GCG Roadmap”. According to Nurhaida, Executive for Capital Market Oversight at the OJK, 11 regulations will be issued this year, with a further eleven in 2015.
“Then the rest will be over a multi-years program,” said Nurhaida in Jakarta on Tuesday.
These regulations will cover the six main themes of company management frameworks, rights of shareholders, equal treatment of shareholders, role of stakeholders in company management, disclosure and transparency of the board of directors and commissioners, and the responsibility of the board of directors and commissioners.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, believes that this comprehensive GCG Roadmap will be an important factor in protecting Indonesia from a crisis when Indonesia enters the AEC.
“In 1998 and 2008, weak implementation of good corporate governance was a significant cause of the global financial crisis,” said Muliaman.
Ito Warsito, President Director of the Indonesia Stock Exchange, applauds OJK’s efforts in issuing the GCG Roadmap. He believes that this roadmap will improve Indonesia’s rank on the relevant GCG scorecard for ASEAN member countries on which Indonesia is now at the bottom.
“Indonesia uses an obsolete GCG regime which was issued in 2000. Global GCG has experienced many improvements since the 2008 crisis. If Indonesia doesn’t change its GCG, it is no wonder if Indonesia’s position stays at the bottom,” said Ito.
Airlangga Hartato, Chief of the Indonesian Issuers Association, hopes that the proposed regulations will not take a blanket approach in adopting international standards. Airlangga emphasizes the importance of maintaining certain Indonesian values and customs.
“For example, on the matter of salary disclosure of executives and commissioners, internationally speaking, it is okay to disclose that information. But for Indonesia, that will harm the public’s feelings as in most companies, the salary is still within the limit of regional minimum wages,” asserts Airlangga.
(hot/kc)