The reflection of Company's strategic directions highlighted that XL confidently believes that implementing GCG principles towards every business activity would be one of the most important elements, not only in building a competitive organization but also in enhancing shareholders value and in maintaining stakeholders trust as our foundation elements to develop a long-term sustainable company.
Throughout 2010, XL's commitment in GCG enhancement has been proven by conducting a GCG assessment and awareness program under collaboration with independent prominent corporate governance business association. Further, the assessment result would be used as a benchmark and milestone to develop a more advance corporate governance system with high standard of professionalism.
According to Company’s framework, the following are the basic principles of XL’s corporate governance:
As the fastest growing company in Indonesian and Global cellular industry, our commitment in compliance to uphold and deliver the high standards of corporate governance increases as one of key to support our strategic directions to enhance shareholders value as well as stakeholders trust to develop a sustainable company. Integrity and fairness have been the key take away of our governance enhancement this year.
By end of 2010, the BOD has established a Business Continuity Management ("BCM") Committee to enhance the Enterprise Risk Management ("ERM"). The BCM Committee would perform under the main purpose of ensuring business continuity risks to be identified, categorized, assessed, and responded in a timely manner. Moreover the BCM Committee would develop a thorough mitigation plan that will prevent and provide necessary rapid recovery during the crisis.
TXL strong endeavor for GCG enhancement is also shown by revitalizing the enforcement of Clean Company Program and Whistleblowing. These policies are implemented of throughout the organizations including each and every individual as well as our business partners and vendors. Moreover, the Company also develops system to ascertain a conducive and ethical business environment with all stakeholders. And last but not least, the kickoff of Good Corporate Governance Program comprises of assessment and series of workshops for our Boards and senior management and basic introduction to our new-hired employees.
In addition, the key components of XL’s GCG that crucially support and play critical roles in the Company’s overall governance tasks are reflected in the following bodies:
For further information in relation to XL GCG Report as stipulated in Annual Report 2010, please click here