WATU is a newly established group and is engaged in various business and industry. Although we are a newly established holding company, we are already implementing GCG to our subsidiaries in order to build a strong system and structure of each subsidiaries. Corporate Governance is to be one element that is essential for the future growth of our subsidiaries.
We are committed to engage in the improvement of corporate governance in accordance with the rules of the parent company. The Commissioners, Directors and Senior Management are directly involved in improving our capabilities in terms of supervision and management for each line of business of our subsidiaries.
To support supervision function within our subsidiaries, the Board of Commissioners have been formed a team of Audit, Risk Management and Corporate Social Responsibility.
GCG implementation in each of our subsidiary is objective to:
+ Implementing Corporate Social Responsibility towards our stakeholders
+ Manage the company in a professional manner
+ Enhance the application of the principles of transparency, accountability, responsibility and fairness
+ Complying with the law in force
Our GCG is arranged with regular structures and mechanisms that generate long-term economic value that is sustainable for our shareholders and stakeholders.
The application of the principles of Good Corporate Governance can contribute to the improvement of our subsidiaries performance. This understanding underlines our commitment to continue enforcing the implementation of GCG in every level of the organization and its operations.
Violation Reporting System Plan. As one of the GCG compliance, we plan to create a system of reporting violations in 2016 that could apply to the parent company and subsidiaries, so that implementation can be run more effectively for the benefit of stakeholders.