Whistleblowing System

The Company is fully aware of the importance of reinforcing the whistleblowing system effectively in order to strengthen the internal control implementation in the organization of the Company. Although until now the Company has not yet established a structured system and an effective whistleblowing media, mechanism for handling the fraud or deceitful acts against the corporate policies or the applying laws is done through a tight process. The Company has also assigned Internal Audit Division to conduct deep analysis, investigate and follow up to the fraud or deceitful acts.

Board Code of Conduct

Board Code of Conduct is formulated based on the rules in the Article of Association of the Company and the applying laws, including Financial Service Authority (FSA) Regulation No. 33/POJK.04/2014 concerning Board of Directors and Board of Commissioners of Issuer or Public Company The Code of Conduct contains:

  1. Legal base;
  2. Description of function, duties, responsibility and authorities;
  3. Working hours;
  4. Membership of Board of Commissioners;
  5. Meeting policy;
  6. Reporting and accountability;
  7. Relation with Board of Directors

Supporting Institutions and Professionals

Public Accountant:
KAP Purwantono, Sungkoro & Surja
Ernst & Young 
Gedung Bursa Efek Indonesia, Tower 2, Lt.7
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Tel : +6221 5289 5000
Fax: +6221 5289 4100

Credit Rating Agency:
PT Pemeringkat Efek Indonesia (Pefindo)
Panin Tower Senayan City, 17th Floor
Jl. Asia Afrika Lot.19
Jakarta 10270, Indonesia
Tel : +6221 7278 2380
Fax: +6221 7278 2370

Securities Administration Bureau:
PT Raya Saham Registra
Gedung Plaza Sentral, Lt. 2
Jl. Jend. Sudirman Kav. 47-48
Jakarta 12930, Indonesia
Tel : +6221 2525666
Fax: +6221 2525028

Risk Management

As a multifinancing company with dynamic business, Risk Management is indeed essential to its business. Therefore, the Company has developed and applied a comprehensive risk management policy as part of effort to anticipate business risk potentially hampering the efforts to achieve the strategic goals of the company, and at the end, slow down the business growth of the Company.

Below are the risks that could be identified and the mitigation steps:

  1. Risk of Financing & Mitigation Steps

Financing activities were exposed to high risk, particularly risk of debtor's failure to fulfill the obligations. Therefore, the Company mitigated the risk emerging from its main business by channeling the credit based on prudence principle as well as applying tight financing scheme, from field survey to adequate credit analysis. Besides, the Company applied collection mechanism of various methods and levels, from sending reminder SMS ahead of the payment due of the installment, then collecting by phone and making direct visit to the consumers that fail to fulfill the payment obligation within certain period of time.If those steps were completed, the next procedure would be to take over the vehicle that becomes the collateral. The Company could help the sales of the vehicle that was taken over in order to minimize the loss and to protect the rights of the consumers whose vehicle was taken over.

  1. Risk of Funding & Mitigation Steps

Funding activity of the Company was also exposed to the risk of the difficulty of finding adequate, affordable and trustworthy sources of fund. To anticipate the risk potential, the Company has applied some steps including diversification of fund using the instruments from local and foreign banking institutions, in the forms of bilateral loan, syndicated loan, joint financing, or loan extension, as well as through capital market, such as the issuance of bonds.

  1. Risk of Operation & Mitigation Steps

The Company's business was exposed to risk of operation which was affected by various risk factors. The Company anticipated the risk by conducting review over the existing operational system and procedures to be further adjusted to the business development of the Company. Department of Business Process in that case was responsible for formulating the Standard Operational Procedure (SOP) and drafting the revision over the procedure on periodical basis.The Internal Audit Division meanwhile was responsible for reviewing the implementation of SOP to ensure the effectiveness of the implementation.

  1. Risk of Competition & Mitigation Steps

The Company in 2016 dealt with challenging situation that led to tight business competition. The Company therefore improved cooperation with the distributors and dealers in order to make breakthroughs, such as innovative financing package and aggressive expansion to widen the sales and service network to many regions in Indonesia.

  1. Risk of Macroeconomy & Mitigation Steps

Macroeconomic uncertainty has generated a risk that could hamper the sustainable business growth. Although the macroeconomic condition was beyond the Company's control, the Company anticipated the risk by consistently monitoring the economic indicators, among which were the inflation rate and interest rate, while diversifying the sources of fund and applying the hedging strategy as anticipatory measures against the fluctuating interest rate and exchange rate.

  1. Risk of Monetary Policy & Mitigation Steps

The macroeconomic situation strongly related with the implementation of monetary policy. The Company in that case has consistently monitored the issued monetary policies and reviews the impact on the business sustainability of the Company. This effort was also accompanied by the strategy of diversifying sources of fund to ensure the Company's competitiveness.

  1. Risk of Exchange Rate Volatility & Mitigation Steps

As the macroeconomic condition, the exchange rate volatility was another risk factor that was beyond the Company's control. To anticipate the risk, the Company applied hedging policy through the implementation of cross currency swap and interest rate swap transactions from floating interest rate to fixed rate to mitigate the impact of risk of exchange rate volatility to profitability of the company.

Code of Conduct of the Company

Code of Conduct of the Company is an internal guidance that binds everyone in the Company and contains the values, business ethics, work ethics, and norms relating to the conformity and compliance against the corporate policies as well as Indonesian laws. Code of conduct is designed by Board of Directors and Board of Commissioners with respect to the corporate values, namely Excellent Services, Reliability, Integrity, Accessibility, Value-Added Driven Business and Awareness, as well as with consideration to moral principles that are enacted in the company and the commitment to realize the corporate vision and mission.

As the Company's commitment to conduct the good corporate governance is in line with the universal principles, the implementation of code of conduct is aimed at guiding all management and employees in showing behavior, interacting and acting according to the rights and obligations to the stakeholders, including in serving the customers.

In addition, other goals of reinforcing the code of conduct are:

  • To develop and maintain commitment of the Company to the implementation of Good Corporate Governance in accordance to the applicable business ethics in Indonesia so as to create a favorable business environment, namely through the implementation of corporate values that lead to the establishment of corporate cultures and policies, system as well as procedures;
  • To apply and sustain understanding as well as implementation of code of conduct of the employees and management against the work ethics that facilitate the implementation of GCG practices, so as to ensure that the Company as a legal entity has operated in compliance with Indonesian laws and business ethics;
  • To develop and sustain understanding among shareholders and stakeholders relating to the corporate values and the applicable business ethics in Indonesia, in a way to promote a positive image ensuring that the Company's business practices are in compliance with the applicable regulations and business ethics in Indonesia;
  • To guide all employees and management about the making of ethical decision, so that each individual of the Company can determine every step or business decision with respect to moral and legal consequences.

Shareholders

Internal Audit

Unit Audit Internal

The Company has formed an Internal Audit Unit based on the Internal Audit Charter which covers the foundation of the formation, membership and scope of duties and responsibilities. The formulation of the Internal Audit Charter is designed with reference to Regulation No. IX.I.7, the Appendix of Bapepam-LK's Decision Letter No. KEP 496/BL/2008 dated 28 November 2008 concerning the Formulation and Manual of Establishing Internal Audit Unit Charter. According to the Internal Audit Charter, the scope of duties and responsibilities of the Internal Audit Unit are as follows:

  1. To formulate and to implement the plan of annual Internal Audit;
  2. To perform the audit against the operational activities according to the procedures and the implementation of internal control;
  3. To draft an audit report and present it to Board of Directors and Board of Commissioners;
  4. To conduct monitoring and evaluation over the audit findings and present the recommendations for improvements over fraud or violation found;
  5. To present recommendations about improvements and objective information about the audited activities at all management levels;
  6. To cooperate with the Audit Committee (in providing information, data and audit findings together with the external auditor);
  7. To design an evaluation program for internal audit activities;
  8. To perform special task relating to internal control implementation as assigned by President Director.

While conducting internal audit activities, the Internal Audit Unit conducts a review over the risk aspect which will be further treated as audit priorities. The results of the audit will recommend the Internal Audit Unit to execute more in-depth analysis. Afterward, the Internal Audit Unit will develop it before it finally comes to the conclusion whether further investigation is required or not to collect more detailed information related to the audited work unit.While conducting internal audit activities, the Internal Audit Unit conducts a review over the risk aspect which will be further treated as audit priorities. The results of the audit will recommend the Internal Audit Unit to execute more in-depth analysis. Afterward, the Internal Audit Unit will develop it before it finally comes to the conclusion whether further investigation is required or not to collect more detailed information related to the audited work unit.

For audit findings that require improvement, internal auditors and external auditors will recommend follow-up activities and oversee its implementation. However, for the audit findings that require further discussion, the Internal Audit Unit will report it for later discussion with the members of the Board of Directors in order to find the right solutions.

Membership & Structure of Internal Audit Unit

The Internal Audit Unit reports directly to the President Director and cooperates with the Audit Committee in performing its duties.

Heribertus Wahyu Anggono

Head of Internal Audit

Internal Audit

This unit is led by an Internal Audit Unit Head who is assisted by several qualified members. The Company has appointed Heribertus Wahyu Anggono to hold the position of Head of Company’s Internal Audit based on Decree of Dismissal and Appointment of Head of Internal Audit of PT Indomobil Multi Jasa Tbk issued by the Board of Directors on 10 December 2015. Heribertus Wahyu Anggono obtained Bachelor of Economics from Atmajaya University in year 1996. He has joined the Indomobil Group since 2002.

Internal Control

The Company implements internal controls within the Company environment as a part of its risk management strategy and as a part of its effort to develop an effective internal control framework. The Company in this case implements internal controls, inter alia, to the Company's financial reporting and compliance of the Company with laws and regulations. Implementation of internal control is expected to strengthen the implementation of corporate governance in the corporate environment. To ensure the effectiveness of the implementation of such internal controls, the Company calls for participation from various parties, from management level to employees, to implement activities and procedures stipulated by the company in accordance with its functions and authority and with high integrity.

 

Corporate Secretary

Maureen.jpg

Maureen Oktarita

She graduated from STIE Perbanas Jakarta majoring in Accounting. She started a career at PT Bank NISP before joined PT Indomobil Finance Indonesia (a subsidiary of PT Indomobil Multi Jasa Tbk) in 2001. She was appointed as Corporate Secretary since May 3, 2019, according to Decree No. 001/IMJ/V/2019 concerning the Appointment of Corporate Secretary. Prior to her appointment as Corporate Secretary, she also held various managerial positions at PT Indomobil Finance Indonesia as Head of Corporate Finance Department (2008 - 2016), Head of Corporate Finance & Treasury Division (2016 – Present). Currently she also serves as Head of Corporate Finance & Treasury Division of PT Indomobil Multi Jasa Tbk.

 

 

  

 

The Company has appointed Maureen Oktarita, as a Corporate Secretary, with details as follows:

Address Indomobil Tower 11th floor, Jl. MT Haryono Kav.11, East Jakarta 13330 
Phone/Fax      +62 21 2918 5400 / 2918 5401
Email This email address is being protected from spambots. You need JavaScript enabled to view it.


Corporate Secretary is responsible for the following tasks:

  1. Holding GMS of the Company, meetings of Board of Directors and meetings of Board of Commissioners;
  2. Helping Board of Directors in the GCG implementation, particularly in the implementation of information disclosure to shareholders, public and all other stakeholders concerning the Company’s activity and latest development;
  3. Providing inputs to Board of Directors relating to compliance with prevailing capital market rules and regulations;
  4. Serving as contact person between the Company and the shareholders, investors, OJK, Indonesia Stock Exchange, and the public

Decision Letter of Board of Directors

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