Corporate Governance
Evaluation of Governance Implementation
EVALUATION OF GOVERNANCE IMPLEMENTATION
Evaluation of GCG implementation is carried out to obtain feedback for future improvements. This is a form of SIG's commitment to increase business success and accountability in the long term which is expected to increase corporate value. in the form of performance improvement and the creation of good corporate performance (good corporate image).
The assessment conducted by SIG uses various references to best practice standards that apply in Indonesia and those that apply abroad. Assessment becomes part of the check and balances mechanism. With assessments. then the achievement of activities can be known with certainty and further actions to improve the performance of an activity can be determined. The Company periodically measures GCG implementation. This is done to obtain an objective assessment of the implementation of GCG in the Company.
Evaluation was carried out using several criteria with the following results:
GCG Assessment - Ministry of BUMN
according to SK-16/S.MBU/2012 concerning Parameter Indicators for Assessment and Evaluation of the Implementation of Good Corporate Governance in SOEs.
| Tahun Buku | Nilai GCG Index | Assessor Independen |
|---|---|---|
| 2009 | 83,88 | BPKP Provinsi Jawa Timur |
| 2010 | 88,37 | BPKP Provinsi Jawa Timur |
| 2011 | 88,91 | BPKP Provinsi Jawa Timur |
| 2012 | 84,57 | BPKP Provinsi Jawa Timur |
| 2014 | 91,38 | BPKP Provinsi Jawa Timur |
| 2015 | 93,31 | Self Assessment |
| 2016 | 93,02 | PT Sinergi Daya Prima |
| 2017 | 92,45 | PT Sinergi Daya Prima |
| 2018 | 93,40 | PT Sinergi Daya Prima |
| 2019 | 94,54 | PT Sinergi Daya Prima |
| 2020 | 95,08 | PT Multi Utama Indojasa |
| 2021 | 95,25 | PT Sinergi Daya Prima |
| 2022 | 96,08 | Self Assesment |
ASEAN Corporate Governance
Organized by the Indonesian Institute For Corporate Directorship (IICD)
| Tahun Buku | Nilai Asean CG | IICD Award |
|---|---|---|
| 2015 | 77,57 (Fair) | - |
| 2016 | 93,37 (Very Good) | Best State Owned Enterprise |
| 2017 | 84,15 (Good) | Top 50 Emiten BigCop |
| 2018 | 84,96 (Good) | Best Right Of Shareholders |
| 2019 | 85,21 (Good) | Best Role of Stakeholder |
| 2020 | 89,22 (Good) | Best Role of Stakeholder |
| 2021 | 94,35 (Very Good) | Best Right of Shareholders |
| 2022 | 92,47 (Very Good) | Best State Owned Enterprises (SOE) |
| 2023 | 102,81 (Leadership in Corporate Governance) | Best State Owned Enterprises |
| 2024 | 102,67 (Leadership in Corporate Governance) | Best Sustainability and Resilience |
GCG Self Assessment - Financial Services Authority (OJK)
in accordance with Number 32/SEOJK.04/2015 concerning Guidelines on Public Company Corporate Governance, with the evaluation conducted in 2026 covering the 2025 financial year as follows:
| Principle | Recommendation | Implementation | Status | Page | |
| PRINCIPLE 1 | |||||
Improve the Value of General Meeting of Shareholders (GMS) Convention. | 1 | Public companies have technical voting methods or procedures, both openly and privately, that prioritize independence and the interests of shareholders. | SIG has a technical method or procedure for collecting votes (voting) both openly and discreetly, which prioritizes independence and the interests of shareholders as stated in the 2023 TB GMS Rules of Procedure dated 3 May 2024 at Point 11 Voting page 3 which is published on the website Company’s website. | Comply | Refer to the Company’s website https://sig.id/storage/downloads/rupstrupslb/2025-rupst/tata-tertib-rupst2025-r3c2.pdf |
2 | All members of Board of Directors and Commissioners of the public listed Company are present in the GMS. | All members of the Board of Directors and the Board of Commissioners of the Company attended the AGM for the Fiscal Year 2024, which was held on May 23, 2025. | Comply | 2025 Annual Report page 240 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=240
Summary of the 2025 Annual General Meeting of Shareholders (AGMS) Minutes https://sig.id/storage/downloads/rupstrupslb/2025-rupst/ringkasan-risalahrupst-id.pdf | |
3 | The summary of the minutes of the GMS is available on the Public Company Website for at least 1 (one) year | The GMS minutes are available in the Company’s website (www.sig.id) in bilingual languages (Indonesian and English) for the last 3 years. | Comply | Summary of the 2023 AGMS Minutes https://www.sig.id/storage/downloads/ rupst-rupslb/2023-rupst/ringkasanrisalah-rupst-2023-fix.pdf
Summary of the 2024 AGMS Minutes https://www.sig.id/storage/downloads/ rupst-rupslb/2024-rupst/fix-ringkasanrisalah-rupst-2024-id.pdf
Summary of the 2025 AGMS Minutes https://sig.id/storage/downloads/rupstrupslb/2025-rupst/ringkasan-risalahrupst-id.pdf | |
| PRINCIPLE 2 | |||||
Improve the Quality of the Public Company’s Communication to Shareholders or Investors. | 1 | The Public Company has a communication policy with its shareholders and investors. | SIG has a communication policy with shareholders or investors which is contained in the Communication Policy with Shareholders, Investors and/or Communication Media. As for relations with shareholders and investors, it is contained in the Code of Conduct and is available on the Company’s website, www. sig.id. | Comply | Communication Policy https://sig.id/storage/downloads/dokumen-tata-kelola/kebijakan-komunikasi-id.pdf
Code of Conduct
2025 Annual Report page 475 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=475 |
2 | The Public Company discloses the communication policy of the Public Company with shareholders or investors on the Website. | SIG has disclosed its communication policy with shareholders or investors on the Company’s website, www. sig.id. | Comply | Communication Policy https://sig.id/storage/downloads/dokumen-tata-kelola/kebijakan-komunikasi-id.pdf
Code of Conduct | |
| PRINCIPLE 3 | |||||
Strengthen Membership and Composition of the Board of Commissioners. | 1 | Decision on the number of members in the Board of Commissioners takes into account the condition of the Public Company. | SIG has considered the condition of the Company (characteristics, capacity, size and goals for achieving the company’s business) in determining the number of members of the Board of Commissioners in accordance with the Articles of Association of PT Semen Indonesia (Persero) Tbk. | Comply | 2025 Company Articles of Association https://sig.id/storage/downloads/ dokumen-tata-kelola/2026-02-25-pkrsi-pad-akta-no-73-tgl-22-12-25.pdf
2025 Annual Report page 261 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=261 |
2 | Decision on the composition of the Board of Commissioners takes into account the diversity of expertise, knowledge and experience required. | SIG has paid attention to the diversity of expertise, knowledge and experience required in determining the composition of the members of the Board of Commissioners in accordance with the Articles of Association of PT Semen Indonesia (Persero) Tbk. so as to provide advice and supervision from a wider variety of aspects. | Comply | 2025 Company Articles of Association https://sig.id/storage/downloads/ dokumen-tata-kelola/2026-02-25-pkrsi-pad-akta-no-73-tgl-22-12-25.pdf
2025 Annual Report page 289 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=289 | |
| PRINCIPLE 4 | |||||
Improving the Quality of Implementation of Duties and Responsibilities of the Board of Commissioners. | 1 | The Board of Commissioners has a self-assessment policy to assess BOC performance. | The Board of Commissioners has a self-assessment policy to assess the performance of the Board of Commissioners which is stated in the Board of Commissioners Charter and Annual Report 2025 of PT Semen Indonesia (Persero) Tbk. | Comply | BOC Charter
2025 Annual Report page 283 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=283 |
2 | Self-assessment policies to assess the performance of the Board of Commissioners is disclosed in the Annual Report of the Public Company. | The Board of Commissioners has disclosed a selfassessment policy to assess the performance of the Board of Commissioners through the 2025 Annual Report. | Comply | BOC Charter
2025 Annual Report page 284 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=284 | |
3 | The Board of Commissioners has a policy relating to the resignation of BOC members involved in financial crimes. | The Board of Commissioners has a policy regarding the resignation of members of the Board of Commissioners if they are involved in financial crimes. | Comply | BOC Charter
2025 Annual Report page 293 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=293 | |
4 | The Board of Commissioners or the committee in charge of the Nomination and Remuneration functions designs a succession policy for the nomination of members of the Board of Directors. | The Nomination, Remuneration and GCG Committee has developed a succession policy in the Nomination process for members of the Board of Directors in accordance with the Work Guidelines/Charter as the work reference for the Nomination, Remuneration & GCG Committee. The latest guidelines have been updated in accordance with the Decree of the Board of Commissioners No. SK008/ SIG/Kep.DK/08.2022 dated 25 August 2022 | Comply | Good Corporate Governance Nomination and Remuneration Committee Charter
2025 Annual Report page 352 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=352 | |
| PRINCIPLE 5 | |||||
Strengthen Membership and Composition of the Board of Directors. | 1 | The number of BOD appointed takes into account the condition of the Company and effectiveness in decision-making. | The determination of the number of members of the Board of Directors has taken into account the condition of the Company which includes the characteristics, capacity, size and goals for achieving the Company’s business as well as effectiveness in making decisions in accordance with the Articles of Association and GCG Guidelines of PT Semen Indonesia (Persero) Tbk. | Comply | 2025 Company Articles of Association https://sig.id/storage/downloads/ dokumen-tata-kelola/2026-02-25-pkrsi-pad-akta-no-73-tgl-22-12-25.pdf
2025 Annual Report page 305 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=305 |
2 | The Board of Directors’ composition considers the range of expertise, knowledge and experience needed. | The determination of the composition of members of the Board of Directors has taken into account the diversity, expertise, knowledge and experience needed by SIG in accordance with the Articles of Association. The composition of the Board of Directors consists of personnel who have relevant experience and expertise in their fields so that they have the ability to manage and develop the company’s business. | Comply | 2025 Company Articles of Association https://sig.id/storage/downloads/ dokumen-tata-kelola/2026-02-25-pkrsi-pad-akta-no-73-tgl-22-12-25.pdf
2025 Annual Report page 320 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=320 | |
3 | Members of the Board of Directors in charge of accounting or finance must have expertise and/ or knowledge in accounting. | The Director of Finance & Risk Management at SIG has met the required qualifications and expertise in the fields of finance and accounting. As can be seen on the Company’s website, the curriculum vitae of the Director of Finance & Risk Management states that the individual has earned a Master’s degree in Management (S2) from Gadjah Mada University in 2002 and also previously served as Director of Finance and Strategy at PT Bank Mandiri (Persero) Tbk from 2020 to 2025. | Comply | Board of Directors Profile https://www.sig.id/jajaran-direksi
2025 Annual Report page 120 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=120 | |
| PRINCIPLE 6 | |||||
Improving the Quality of Implementation of Duties and Responsibilities of the Board of Directors. | 1 | The Board of Director has a selfassessment policy to assess BOD performance. | The Board of Directors has a self-assessment policy to assess the performance of the Board of Directors in accordance with Minister of SOE Regulation Number PER3/MBU/03/2023 concerning Organs and Human Resources of State-Owned Enterprises. | Comply | BOD Charter https://www.sig.id/storage/downloads/dokumen-tata-kelola/3-20220721-piagam-direksi.pdf
2025 Annual Report page 325 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=325 |
2 | Self-assessment policies to assess the performance of the Board of Directors is disclosed in the Annual Report of the Public Company. | The self-assessment policy to assess the performance of the Board of Directors has been disclosed in the Annual Report in accordance with Minister of SOE Regulation Number PER3/MBU/03/2023 concerning Organs and Human Resources of State-Owned Enterprises. | Comply | 2025 Annual Report page 325 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=325 | |
3 | The Board of Directors possesses a policy relating to the resignation of members involved in financial crimes. | The Board of Directors has a policy regarding the resignation of members of the Board of Directors which is contained in the Articles of Association and the Board of Directors Charter. | Comply | BOD Charter https://www.sig.id/storage/downloads/dokumen-tata-kelola/3-20220721-piagam-direksi.pdf
Company Articles of Association https://sig.id/storage/downloads/ dokumen-tata-kelola/2026-02-25-pkrsi-pad-akta-no-73-tgl-22-12-25.pdf
2025 Annual Report page 325 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=325
| |
| PRINCIPLE 7 | |||||
Improving Aspect of the Company’s Good Corporate Governance through Stakeholder Engagement | 1 | The Public Company possesses a policy to prevent insider trading | SIG has a policy to prevent insider trading which is contained in the Code of Conduct Chapter IV of the Ethics of Conduct for Company Personnel in Sub-Chapter 4.14 Insider Trading. | Comply | Code of Conduct
2025 Annual Report page 455 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=455 |
2 | The Public Company has an anti- corruption and anti-fraud policy. | SIG has an anti-bribery and anti-fraud policy outlined in the Code of Ethical Conduct, which is implemented through the certification of the Anti-Bribery Management System (ISO 37001:2025), the establishment of the Gratification and AntiBribery Control Team, and the updating of the Board of Directors’ Decree on the Gratification Control and Anti-Bribery Team (Decree No. 0703/Kpts/Dir/2026). | Comply | Code of Conduct https://www.sig.id/storage/downloads/ dokumen-tata-kelola/signed-03112023- final-code-of-conduct-2023.pdf
Anti-Bribery Policy https://sig.id/storage/downloads/ dokumen-tata-kelola/kebijakan-antipenyuapan-sig-2025-signed.pdf
2025 Annual Report page 459 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=459 | |
3 | The Public Company has a policy about selection and improvement of capabilities of suppliers or vendors | SIG has established a policy regarding the selection and capacity building of suppliers or vendors, namely the Sustainable Procurement Policy of PT Semen Indonesia (Persero) Tbk. | Comply | 2025 Annual Report page 465 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=465 | |
4 | The Public Company has a policy about fulfilment of creditors’ rights. | SIG has a policy regarding the fulfillment of creditor rights contained in:
| Comply | Code of Conduct https://www.sig.id/storage/downloads/ dokumen-tata-kelola/signed-03112023- final-code-of-conduct-2023.pdf
2025 Annual Report page 467 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=467 | |
5 | The Public Company has a whistleblowing system. | SIG has established a Whistleblowing System (WBS) Guideline that include: 10 types of violations, complaint channels, protection of guarantees of reporter confidentiality, handling of complaints, parties managing complaints, and the outcomes and follow-up actions related to the complaints.
To enhance the quality and independence in WBS management, SIG cooperates with independent consultants in managing the reporting system.
The WBS application supports whistleblower confidentiality by allowing the option to remain anonymous during the reporting process | Comply | Whistleblowing System (WBS) Guidelines https://www.sig.id/storage/downloads/ dokumen-tata-kelola/5-2022- pedoman-wbs-id.pdf
2025 Annual Report page 468 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=468 | |
6 | The Public Company has a policy about long-term incentives for Directors and employees. | SIG has a policy of providing long-term incentives to the Board of Directors and employees. In determining the incentives received by the Board of Directors, the Company is guided by the Regulation of the Minister of State-Owned Enterprises Number PER-3/MBU/03/2023 concerning Organs and Human Resources of StateOwned Enterprises and its amendments, while for Employees the incentives are contained in the Collective Work Agreement, at articles 17 to article 43. | Comply | 2025 Annual Report page 326 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=326 | |
| PRINCIPLE 8 | |||||
Improving the implementation of information disclosure. | 1 | The Public Company uses information technology more broadly, beyond just the website, as a tool for information disclosure. | SIG has utilized the technology used in conveying information, including: email, social media (IG-sig.id, TWITTERsemenku, FACEBOOKsemenindonesiagroup, YOUTUBE-@sig.official) including the OJK-IDX Electronic Reporting System media, as stated in the Communications Policy. | Comply | Instagram : @sig.id X : @SIGofficial_ Linkedln : company/sig-id/ Youtube : @SIG.Official TikTok :@sig_official Laporan
2025 Annual Report page 78 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=78 |
2 | The Annual Report of a Public Company discloses the ultimate beneficial owners holding at least 5% (five percent) of the company’s shares, in addition to disclosing the ultimate beneficial owners through the major shareholders and controllers. | Based on KSEI data, the disclosure of ultimate beneficial owners in the company’s share ownership shows that no shares are held above 5%, except for the Ministry of State-Owned Enterprises, which has been disclosed in the Annual Report and the shareholder report published monthly on the website: https://www.sig.id/lembagapenunjang | Comply | 2025 Annual Report page 134 https://www.sig.id/storage/downloads/laporan-tahunan/ar-sig-2025-1604.pdf#page=134 | |
Book Year GCG Index Value Independent Assessor
About Us
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Business
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Corporate Identity
Corporate Governance
