Corporate Governance Framework

At MBMA, we are deeply committed to upholding the principles of Good Corporate Governance (GCG) including transparency, accountability, responsibility, independency and fairness, across all aspects of our operations. From the establishment of governance organs to the development of GCG policies, we are dedicated to continuously improving our GCG practices. As part of our commitment, we have implemented the following approaches:

Good Corporate Governance

MBMA has complied with the organizational structure consisting of the General Shareholders Meeting (GSM), Board of Commissioners equipped with the Audit Committee and Nomination and Remuneration Committee, and the Board of Directors assisted by Corporate Secretary and Internal Audit Unit.

The composition of our members of the Board of Commissioners and Board of Directors is complemented by Independent Commissioners in accordance with the provisions of the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX).

Sustainability Governance
MBMA BoD is responsible for overseeing the implementation of sustainability commitments. MBMA has established a Sustainability Committee to assist in monitoring the management of health and safety, environmental, and social impacts for all its subsidiaries. The Sustainability Committee is supported by the Sustainability Team and cross-functional Working Groups.

The Sustainability Team is a function that manages sustainability on a daily basis, reporting to the Head of Sustainability and providing regular updates on MBMA’s sustainability performance to the Sustainability Committee.

Working groups for specific ESG topics will be formed to discuss significant ESG topics in business units, facilitate more focused and in-depth discussions and actions on specific ESG topics, and ensure that all employees in all business units are involved and responsible for implementing sustainability related policies and strategies.

Anti-Corruption and Bribery, Anti-Money Laundering and Conflict of Interest
MBMA is committed to conducting all business activities with a high level of profesionalism, fairness and integrity. In order to prevent corruption and bribery, money laundering and conflict of interest, MBMA implemented related policies and will be given strict sanctions for those acts.

Mechanism for Submitting Concerns and Complaints
MBMA adopted a Whistleblowing System (WBS) developed by MDKA as controller of MBMA. This system has three main principles consist of anti-retaliation, confidentiality, and anonymity.

This reporting system is managed by an independent third party that will escalate the reports to the Company in a hierarchical manner.

Responsible Supply Chain
As part of integrating sustainable mining and processing standards, we work towards ensuring our sustainability values and standards are reflected in our relationship with suppliers. MBMA implemented the Supplier Sustainability Code of Ethics developed by MDKA as controller of MBMA, which regulates the principles, values, and standards of behavior in decision-making, procedures, and operational systems that must be carried out by suppliers.


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