Corporate Governance

Committee

Audit Committee

The Audit Committee oversees and ensures the integrity of a company's financial reporting, internal control processes, and supports the Board of Commissioners in reviewing the quality and integrity of the Company's financial disclosure.
Hidayatullah Suralaga | Chairman
Herwan Ng | Member
Dr. Drs. Komjen (Purn). Ito Sumardi Djuni Sanyoto, S.H., M.H., MM., MBA | Member

Role and Duties of The Audit Committee:

Internal Audit

Internal Audit conducts independent assessments to evaluate a company's internal controls, processes for effectiveness and compliance, and serves as a strategic partner for shareholders and management, supporting the Company in managing resources productively.
Regina Listiyani | Internal Auditor

Role and Duties of The Internal Auditor:

Corporate Secretary

The Corporate Secretary manages administrative tasks, ensures compliance with legal and regulatory requirements for the company, and facilitates internal and external communications between all the functions and units of the Company.
Farah Reza Praditya | Corporate Secretary

Role and Duties of The Corporate Secretary:

Committee

Nomination & Remuneration Committee

The Nomination & Remuneration Committee is responsible for selecting and compensating the company's board members and top executives, as well as supporting the efficient succession and renewal of the Board of Directors and Board of Commissioners.
Hidayatullah Suralaga | Chairman
Farhan Rio Gunawan | Member
Kusnarto | Member

Role and Duties of The Nomination & Remuneration Committee:

Ownership Structure

Corporate Policies

Anti-Corruption, Anti-Bribery, Whistleblowing Policy

  • At FKS Multi Agro, we strive to maintain high standards of integrity, transparency, and ethical conduct in all its business activities. Achieving sustainable development requires fighting corruption and bribery, fostering fair competition, and fostering trust.
  • As a public company, we are committed to improving Corporate Governance standards. Our Corporate Governance standards have been implemented in accordance with the Financial Services Authority (OJK).
  • Our company’s Corporate Governance practices are governed by OJK Regulation No.21/POJK.04/2015 dated 16 November 2015, which is further detailed in Circular Letter No. 32/ SEOJK.04/2015 on Corporate Governance guidelines for public companies dated 17 November 2015.

    Any external stakeholder wishing to raise any concerns about the Company may do so via a confidential and dedicated  online platform. All information received will be confidential. After submitting a report, the whistle-blower will receive a unique ticketing number, enabling them to monitor the progress of their report online.  When raising a concern or making a report, the following information should be provided:

    1. The nature of the alleged misconduct

    2. Date, time and location of the actions or transactions

    3. Identity and particulars of parties involved

    4. Circumstances leading to the alleged improprieties

    5. Any other relevant information or documents 

    All whistleblowing reports will be reviewed and appropriate actions ranging from remedial measures to disciplinary actions will be taken.

    Click Here to Make A Report

Code of Conduct Main Principles

Being Good

We are committed to our responsibility to the community we live in and serve. This means knowing and following applicable laws and regulations that apply to our business activities and produce a positive impact to our surrounding and stakeholders.

We strive to conduct our business in an economically, socially, and environmentally-friendly way. We urge all employees to promptly report all suspected violations of the laws of Code of Conduct.

Being Responsible

We uphold our responsibility to keep a safe workplace environment, free of occupational, health, and security hazards.

We maintain our standard quality of products through compliance with internal controls, regular financial reports, and audits while overseeing data storage.

Being Respectful

We strongly believe in the power of people and building a globally diverse, inclusive culture at work.

We value respect and rights from one human being to another by not tolerating any form of sexual harassment, discrimination, bullying or victimisation of any kind, be it verbal or non-verbal.

Being Honest

As we stand by honest business practices, we are against all forms of bribery.

We go beyond by complying with all laws and regulations relating to Anti-Monopoly, Business Competition and Anti-Money Laundering that apply globally where we operate.

Being Loyal

Our employees are encouraged to nurture loyalty when conducting assignments or business activities by exercising objectivity where their personal interests could inappropriately influence the business judgment.

In addition, we expect our employees to be committed to keeping confidential information and trade secrets owned by the company private at all times, including the protection of the company’s electronic resources from abuse and threat of use.

Risk Management

Effective risk management is implemented at FKS Multi Agro according to our objectives and business complexity. Our committed Management team is responsible for integrating risk management within the company and our subsidiaries.

In order to identify and assess the level of risk maturity against business objectives, the risk management of the company must be flexible in facing volatile conditions that could affect its business activities. The risk management process is influenced by the assessment of the level of risk affecting the Company's business operations.

Risk Management
Fair Value and Cash Flow Interest Rate Risk
  • Working capital and long-term loans are the main sources of interest rate risks. Interest risk arises from the floating rates of the Company's loans.
  • Interest rate fluctuations are monitored by the Company to minimize any negative effects.
  • In regards to interest rate risk from short-term loans, the Company’s policy is to charge the change in floating rate to customers through the selling prices.
  • Risks associated with changing market interest rates mainly relate to the Group's floating interest rate long-term loans.
Foreign Currency Risk

Foreign exchange risks are primarily associated with the Company's monetary assets and liabilities in currencies other than its functional currency.

This foreign exchange fluctuation poses a potential market risk to the Company. If possible, the Company would balance significant assets and liabilities denominated in foreign currencies to mitigate the impact of foreign exchange rate fluctuations on its assets and liabilities. In order to mitigate these risks, derivative transactions can also be entered into by the Company.

Commodity Price Risk

Commodities price fluctuations, especially soybean and soybean meal, pose a potential commodity price risk for the company.

In order to minimize the risks arising from fluctuations of finished goods prices, the Company observes and analyzes developments in the international market and enhances material procurement efficiency according to customer requirements. As part of continuous inventory management, the Company also enters into purchase agreements when prices are low, while keeping sales planning and material requirements in mind.

Credit Risk

Providing credit to customers and placing funds on current and deposit accounts in banks exposes the company to credit risks.

Except for the disclosures below, the Company does not have a concentration of credit risk.

  • Cash and Cash Equivalents
    Funds placed on current and deposit accounts are managed in accordance with the Company's policies. The Board of Directors reviews surplus funds investments annually and limits excess funds to each bank. Using such limits mitigates any potential financial loss due to bank failure by minimizing the concentration of credit risk.
  • Trade Receivables
    The Company enforces policies to ensure that its products are sold only to creditworthy customers with a good track record. A precautionary approach to credit lending is applied by the company, and it regularly monitors the credit portfolio. A credit verification procedure must be completed by all customers who wish to trade on credit terms, including a detailed examination of their transaction history, business potential, financial strength, perception of their industry reputation, and business management skills.
    As part of the Company's policy, each customer is limited to a certain amount of credit. The management monitors how customers utilize their limits on a regular basis. Non-credit qualified customers must pay in advance. To reduce the Company's risk of bad debts, receivable balances are continuously monitored.
    On the date of reporting, the Company reported maximum credit exposure for each class of financial assets in its consolidated financial statements.
Liquidity Risk
  • Through an adequate amount of committed credit facilities and sufficient cash and cash equivalents, the Company manages its liquidity profile in order to finance capital expenditures and repay maturing debts.
  • As part of its ongoing monitoring of the maturity of its financial assets and liabilities, the Company evaluates its projected and actual cash flow information on a regular basis.
  • Further explanation on the Company’s risk management, including its internal control system is elaborated in Annual and Sustainability Report.

Supporting Institution

Public Accounting Firm
Purwantono, Sungkoro & Surja

Indonesia Stock Exchange Building Tower 2, 7th Floor Jl. Jend. Sudirman Kav. 52-53 Jakarta 12150

Training Subject

Audited the Company’s Financial Statements

Fees (Rp)

Notary
Raden Rita Diana Syarifah

Jl. Manggarai Selatan I No. 94
Manggarai Tebet Jakarta Selatan
DKI Jakarta 1285

Training Subject

Organized the GMS and prepared the Minutes of Meeting

Fees (Rp)

Share Registrar
PT BSR Indonesia

Gedung Sindo, 3rd Floor Jl. KH. Wahid Hasyim No. 38 Menteng, Jakarta Pusat 10340

Training Subject

Securities Register Maintenance and Management

Fees (Rp)


All supporting institutions provided their services in 2022.