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Company Overview

PT Indal Aluminum Industry Tbk (Company) was established in 1971, has become one of leading aluminium extrusion suppliers in Indonesia. Based in Surabaya. supplies wide range of aluminium extrusions and accessories products such as Solar Panel Frame, Finger Print Handle Hinge Door, Slim folding door and window, Curtain Wall, Water Tank, Ladder, etc. based on the Founding Deed No.62 dated 16 July 1971 of Djoko Supadmo, S.H. which was amended by Deed No.2 dated 1 November 1973 of Eliza Pondaag, S.H. and amended again by adjusting the Articles of Association of the Company with the Law on Limited Liability Company No.40 of 2007 Deed No.13 dated 14 July 2008 from Dyah Ambarwaty Setyoso, SH, which was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No.AHU-91352.AH.01.02 dated 28 November 2008. Accompanied by changes to the Deed no 176 dated 30 June 2015 from Bambang Heru Djuwito, SH, MH. as in the letter of the Director General of General Legal Administration No.AHU-AH.01.03-0953380 and No.AHU-AH-01.03-0953381 both dated 30 July 2015 and announced in the State Gazette of the Republic of Indonesia on 27 November 2015 No.95 Supplement No.1102/L. The latest amendment to Deed No.93 dated 20 June 2017 from Sitaresmi Puspadewi Subianto, SH as in the letter of the Director General of General Law Administration number AHU-AH.01.03-0153357. Since 1994, the Company has become a public company and is still listed on the Indonesia Stock Exchange.

Vision

To be the market leader in the Aluminum Extrusion and Fabrication industry in Asia.

Mision

Providing the best service to customers with innovation, continuous improvement in productivity and efficiency.

Company Business Activities

Based on Article 3 of the Company's Articles of Association in accordance with Dyah Ambarwaty Setyoso, SH, Notary Deed No.35, the Company is a company engaged in aluminum processing and trading. To achieve the aims and objectives as stated, the Company carries out its main business activities by managing aluminum ingot or billet raw material into aluminum extrusion profiles which are widely used in the construction industry, home industry, electronic / automotive components, medical equipment components, aluminum solar frames and so on. The Company has taken a long journey to reach its achievements as a leading aluminum extrusion producer both in Indonesia and recognition in the international market.

Board of Directors

Alim Markus

Presiden Director

Indonesian citizen, 69 years old, serves as president director with the task of leading the implementation of the management of the Company and is the coordinator of all other members of the Board of Directors. Completed an executive program at the National University of Singapore in 1990 and Tsing Hua University in Beijing, China in 2010. He was appointed as the management of the Company at the AGM on August 25, 2020 with a term of office until the end of the 2023 AGM. He is one of the founders of the Company and has joined together Maspion business group throughout his career. Currently he also serves as Chair of the Indonesia China Business Council (ICBC) as well as Chair of the East Java Indonesian Employers' Association (Apindo), and other organizational positions. He also held the positions of commissioner and director in several companies in the Maspion business group, including as President Director at PT Maspion, PT Alumindo Light Metal Industry, Tbk and PT Bumi Maspion, as President Commissioner at PT Indal Steel Pipe, PT Maspion Energy Mitratama, and PT Maspion Industrial Estate. During the 2020 financial year, he had participated in various education or training seminars related to prospects and strategies in the business world. He has affiliation with members of the Board of Commissioners (Gunardi), Directors (Alim Mulia Sastra and Alim Prakasa) and Major Shareholder companies.

Alim Mulia Sastra

Director

An Indonesian citizen, 67 years old, he serves as managing director with the task of controlling the costs and expenses of the Company. Completed a business study in Singapore in 1974 and began his career in the Maspion business group in 1975. He was appointed as the management of the Company at the AGMS on August 20, 2020 with a term of office until the end of the 2023 AGM, and previously served as the Company's Commissioner. He currently holds various positions in the Maspion business group as members of the Directors of PT Maspion, PT Alumindo Light Metal Industry, Tbk and PT Maspion Kencana and the Board of Commissioners of PT Bumi Maspion and PT Maspion Industrial Estate. During the 2020 financial year, he participated in a number of trainings related to operational control of production. He has affiliation with members of the Board of Commissioners (Gunardi), Directors (Alim Markus and Alim Prakasa) and Major Shareholder companies

Alim Prakasa

Director

An Indonesian citizen, 63 years old, he serves as executive managing director with the task of carrying out all of the Company's operational activities. Completed studies at St.Mary University, Canada. Since 1981 he has joined the Maspion business group. Appointed as a member of the Board of Directors of the Company at the AGM on August 25, 2020 with a term of office until the end of the 2023 AGM. In addition, he held various strategic positions in the Maspion business group as Directors (PT Alumindo Light Metal Industry, Tbk, PT Bumi Maspion and PT Maspion Industrial Estate) and the Board of Commissioners (PT Maspion, PT Indal Steel Pipe and PT Alaskair Maspion). During the 2020 financial year, he participated in various seminars and exhibitions relating to products and production processes. He has affiliation with members of the Board of Commissioners (Gunardi), Directors (Alim Markus and Alim Mulia Sastra) and Major Shareholder companies.

Wibowo Suryadinata

Director

An Indonesian citizen, age 59, holds the position of director with the task of managing the Company's financial management. Appointed as management of the Company at the AGM on August 25, 2020 with a term of office until the end of the 2023 AGM. Completed postgraduate education at the Indonesian Institute of Management Development. Prior to this, he had worked in banking for 22 years in various national and foreign banks with his last position as Vice President and 6 years in a non-bank career. Started his career in the Maspion business group since 2013, and concurrently serves as a Director at PT Alumindo Light Metal Industry, Tbk. During the 2020 financial year, he attended training and seminars related to financial, banking and capital market strategies organized by Private Banks, Bank Indonesia and the Financial Services Authority (OJK). He has no affiliation with the members of the Board of Commissioners or Directors and Major Shareholders.

Cahyadi Salim

Director

Indonesian citizen, 53 years old, holds the position of director with the task of supporting the executive managing director in managing the Company's operational activities. Appointed as management of the Company at the AGMS on August 25, 2020 with a term of office until the end of the 2023 AGM. Completed postgraduate education in strategic management. He has joined the Maspion business group since 1994. He also currently serves as a Director at PT Indalex (a subsidiary of the Company), PT Warna Cemerlang Industri and PT Ishizuka Maspion Indonesia. During the 2020 financial year, he participated in training related to machine facilities and product quality. He has no affiliation with members of the Board of Commissioners or Directors and Major Shareholders.

Board of Commisssoners

Welly Muliawan

President Commissioner

Indonesian citizen, 60 years old, served as president commissioner with the task of leading oversight of all management of the Company and became the coordinator of all other commissioners. Appointed as management of the Company at the AGMS on August 25, 2020 with a term of office until the end of the 2023 AGM. Completed an MBA study program at the National University of Singapore. Started his career in the Maspion business group since 1982. He held the position of Chief Financial Officer in the Maspion business group and as President Commissioner of PT Alumindo Light Metal Industry, Tbk. During 2020 no formal education or training was followed. Has no affiliation with members of the Board of Commissioners or Directors and Major Shareholders.

Gunardi Go

Commissioner

Indonesian citizen, 96 years old, served as commissioner with the task of supporting the president commissioner overseeing the Board of Directors in carrying out the management of the Company. He received a formal education equivalent to a High School. Appointed as a member of the Board of Directors of the Company at the AGM on August 25, 2020 with a term of office until the end of the 2023 AGM. He has joined the Maspion business group since 1965. He has held positions as Director and Commissioner in several companies in the Maspion business group, including PT Maspion and PT Maspion Industrial Estate as Director, and as Commissioner at PT Bumi Maspion, PT Maspion Elektronik, PT Indal Steel Pipe and PT Alumindo Light Metal Industry, Tbk. During 2020 no formal education or training was followed. He has affiliation with members of the Board of Directors (Alim Markus, Alim Mulia Sastra and Alim Prakasa) and Major Shareholder companies.

Supranoto Dipokusumo

Independent Commissioner

An Indonesian citizen, 61 years old, he serves as a commissioner with the main task of the internal audit function. Appointed as management of the Company at the AGM on August 25, 2020 with a term of office until the end of the 2023 AGM. Completed an MBA study program at the University of Toledo, USA. He has joined the Company since 2001. He also serves as Chairman of the Company's Audit Committee and Independent Commissioner of PT Alumindo Light Metal Industry, Tbk. During the fiscal year 2020 attended audit management training. He has no affiliation with the members of the Board of Commissioners or Directors and Major Shareholders.

Audite Commitee

In order to carry out its supervisory and advisory duties, the Board of Commissioners requires an Audit Committee that is tasked with professional and independent duties in conducting reviews, providing advice and recommendations for the benefit of the Company related to the financial reporting, auditing and compliance processes.
Through the Decree of the Company's Board of Commissioners, the Company's Audit Committee consists of three people and who serves as chairman is one Independent Commissioner. The composition of the Audit Committee is as follows:

  1. Drs.Supranoto Dipokusumo (Chairman)
    Indonesian citizen, 61 years old, completed his MBA at the University of Toledo, USA in 1992. He has joined the Company since 2001. Currently he also serves as Independent Commissioner of PT Alumindo Light Metal Industry Tbk.
  2. Heri Kustiyono Rudiantoro (Member)
    Indonesian citizen, 62 years old, graduated from Economics majoring in Accounting at Narotama University, Surabaya and has worked in a Public Accounting Firm for 17 years. He joined the Maspion Group since 2000.
  3. Bambang Njoto Prajitno (Member)
    Indonesian citizen, 55 years old, graduated from Economics majoring in Accounting at Brawijaya University, Surabaya, has worked in banking and other companies in the field of internal audit and finance for 10 years. He joined the Maspion Group since 2000.

Term of Office of Audit Committee Members
Based on the decision of the Board of Commissioners No.002/INAI-DK/SK/2020 dated June 29, 2020, the term of office of the members of the Audit Committee starts from June 30, 2020 until 2023 or until changes are made by the Board of Commissioners.

Independence of the Audit Committee
In order to provide accountable references, opinions and suggestions, as well as carry out their duties and responsibilities professionally and independently without any conflict of interest and intervention from any party, all members of the Company's Audit Committee come from independent parties who are selected according to their abilities, background, experience and education. All members of the Audit Committee do not own the Company's shares, have no business relationship with the Company, are free from personal interests and have no affiliation with the main shareholders or the Board of Commissioners and Directors.

Audit Committee Meeting
The Audit Committee meeting is held at least once in 3 (three) months and attended by a minimum of more than (one half) of the number of members. Each Audit Committee Meeting is stated in the Minutes of Meeting and signed by all members of the Audit Committee present and submitted to the Board of Commissioners.

During 2020 the Audit Committee held 4 meetings with an average attendance rate of 100% for each member.

Audit Committee Training
The training or seminars attended by members of the Audit Committee in 2020 are:

  1. July 2020, Going Concern : Effect of Pandemic Covid 19, IAPI organizer, Jakarta
  2. August 2020, Business Strategy in Pandemic Covid 19,FEB UNAIR organizer, Surabaya
  3. August 2020, Company Culture to Transform, FEB UNAIR organizer, Surabaya
  4. September 2020, Digital Governance for Digital Transformation, FEB UNAIR organizer – Ministry of Finance Republic of Indonesia

A brief description of the Audit Committee's Activities and Reports
During 2020, the Audit Committee has carried out its duties, responsibilities and authorities in accordance with the Financial Services Authority Regulations and the Audit Committee Charter, among others :

  1. Conducted 4 meetings, including meetings with Internal Auditors and Directors.
  2. Reviewing the financial information that will be issued by the Company to the public and/or related authorities.
  3. Conduct a review of the Company's supervision and operational activities as well as the Company's financial condition during 2020.
  4. Reviewing business strategic plans, financial reports and Good Corporate Governance reports.
  5. Provide recommendations to the Board of Commissioners in the appointment of a Public Accountant and/or Public Accounting Firm based on independence, scope of assignment and amount of fee.

Corporate Secretary

The Company Secretary is held by Ariawan Wiradinata, based on a letter of appointment by the Company's Board of Directors since 2006. Domiciled in Surabaya, East Java and joined the Maspion Business Group since 1995. He completed his Masters degree in Financial Management from the Universitas 17 Agustus 1945 Surabaya.

Corporate Secretary is an individual or person in charge of a work unit that carries out the function of a corporate secretary to bridge communication between the Company and the public and maintain information disclosure. Any information submitted by the company secretary to the public is official information from the issuer or public company. The Corporate Secretary is also responsible for ensuring that the Company has complied with the principles of GCG as well as all current laws and regulations.

The training or socialization that was followed during 2020 included:

  1. Technical deepening training on the preparation of the Annual Report and POJK Number 51 on Sustainability Reports organized by the Indonesia Stock Exchange (IDX) and the Association of Indonesian Issuers (AEI).
  2. DSocialization of the Impact of Covid-19 on the Implementation of PSAK 8, PSAK 68 and PSAK 71 organized by the Indonesia Stock Exchange (IDX) and the Indonesian Accounting Association (IAI).
  3. Socialization of POJK Number 15/POJK.04/2020 Plans and Organizing of General Meeting of Shareholders of Public Company and POJK Number 16/POJK.04/2020 concerning Implementation of General Meeting of Shareholders of Public Company Electronically organized by the Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK).
  4. Seminars related to sustainability aspects in order to support the implementation of Financial Services Authority Regulation (POJK) No.51/POJK.03/2017 for Listed Companies to publish Corporate Sustainability Reports organized by the Indonesia Stock Exchange (IDX) and the Global Reporting Initiative (GRI).
  5. Seminar on Opportunities and Challenges for Industry and Business in the New Normal Period organized by the Association of Indonesian Issuers and the Minister of Industry.
  6. Socialization and Dissemination related to the Capital Market obligations that must be fulfilled by Issuers and the role of members of the Board of Directors and members of the Board of Commissioners in running the Company to meet expectations and protect the interests of shareholders organized by the Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK).
  7. Socialization of the implementation of the IDX Industrial Classification (IDX-IC) organized by the Indonesia Stock Exchange (IDX).

Implementation of tasks during 2020 include:

  1. Assist the Board of Directors and the Board of Commissioners in implementing corporate governance, especially with regard to public information disclosure, including the availability of information on the Company's website and timely reporting to the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX).
  2. Prepare the 2019 Annual Report book.
  3. Held the AGM on August 25, 2020 at Hotel Fave Surabaya.
  4. Holding a public expose and press conference on August 25, 2020.
  5. Coordinate other activities related to the duties of the Corporate Secretary

PT Indalex, domiciled in Sidoarjo, a type of Construction Services business, operating year 1993, with assets as of December 31, 2020 amounting to Rp. 563,981,307,406 Received the 2019 Palamarta Silver award from the Sidoarjo Madya Tax Service Office to PT Indalex as a Taxpayer who has made a major contribution in achieving the target of state revenue.


PT Indal Investindo, domiciled in Surabaya, type of investment business, operating year 1997, with assets as of December 31, 2020 amounting to Rp.245,413,506,223.


PT Indal Servis Sentra, domiciled in Surabaya, General Trading business type, operational year 1999, with assets as of December 31, 2020 amounting to Rp.2,390,000.


PT ERP Multisolusi Indonesia, domiciled in Surabaya, type of Software Services business, operational year 1999, with assets as of December 31, 2020 of Rp.1


PT Warna Cemerlang Industri, domiciled in Gresik, a type of Paint Manufacturing business, operating in 1999, with assets as of December 31, 2020 amounting to Rp.19,156,077,664.


PT Indal Reiwa Auto, previously named PT UACJ Indal Aluminum, domiciled in Gresik, type of Aluminum Extrusion Manufacturing business, operating year 1998, with assets as of December 31, 2020 of Rp. 264,463,670,831

 

Basic Implementation of Corporate Governance

Good Corporate Governance (GCG) is a must for every public company listed on the Indonesia Stock Exchange (IDX). This implementation also plays an important role in achieving PT Indal Aluminium Industry Tbk (Company) Vision and Mission. Every activity within the company must be adjusted to the Corporate Governance policy which is specifically designed to optimize the Company Value.
The Company is committed to always being consistent in the implementation of Corporate Governance in the current business era based on the principles of transparency, fairness, accountability, independence and accountability in all operational activities for the sake of all stakeholders.

Corporate Governance Structure

In accordance with Limited Companies Law No. 40 of 2007, the Company's organs consist of the Shareholders General Meeting (SGM), the Board of Commissioners and the Board of Directors which have clear authorities and responsibilities according to their respective functions as stipulated in the Articles of Association and Laws and Regulations-invitation. The Company believes that a reasonable relationship between the Company's Organs has a significant positive effect on the success of corporate management and the implementation of Corporate Governance. Therefore, the Company encourages fair relations, respects and acts according to their respective functions and roles.

The Company is committed to implementing good corporate governance practices as part of its efforts to achieve the Company's Vision and Mission. The Code of Ethics is prepared as a manifestation of this commitment and describes the values in the Company's work culture into the interpretation of behavior related to business ethics and code of conduct.

The Code of Ethics also serves as a reference for the Board of Commissioners and the Board of Directors in managing the company related to all activities on behalf of the Company. expected to uphold the principles in this Code of Ethics

The code of ethics is regularly disseminated to all parts of the Company, and all new employees who will work will sign this Code of Ethics and will be re-signed as a sign of approval every year.

The Code of Ethics regulates the following behaviors:

  1. General Principles
  2. Child Labor
  3. Forced Labor, Human Trafficking and Slavery
  4. Harassment and Violence
  5. Compensation and Benefits
  6. Working Hours
  7. Health and Safety Working Conditions
  8. Discrimination
  9. Freedom of Association and Bargaining
  10. Environmental Responsibility
  11. Customs Cooperation to Counter Terrorist Activities
  12. Relationship with Subcontract
  13. Ethical Behavior

CORPORATE VALUES
To create a better future for all stakeholders and develop together to serve the community and nation through business development.

Compliance with Laws, Regulations and Regulations
It is expected that every employee will comply with state laws, rules and regulations and become law-abiding citizens to ensure a law-abiding corporation.

Creating Clean and Green Businesses and Products
The best companies must be accountable to society and the larger community. By creating clean and green businesses and products, the Company will be able to serve society in the long term with true purpose.

Loyalty, Capability, Hard Work and Discipline
From the pillars of success and achievement. Every member of the organization must maintain his integrity and be prepared to work hard and smart for the mutual benefit of both the Company and the individual. Organizational behavior must be carried out in a military discipline but still humane approach.

In accordance with the Articles of Association, the honorarium for members of the Board of Directors is determined at the Annual Shareholders General Meeting (AGM). Subsequently, the AGM authorized the Board of Commissioners to determine the amount and distribution of the honorarium between members of the Board of Commissioners and the Board of Directors. The amount of remuneration for each member is determined according to the function and competence of each member. The total remuneration received by the Board of Directors is Rp.4,755,608,000 for 2020.

The Board of Commissioners' Remuneration Policy is determined in the GMS by giving the Board of Commissioners the authority to determine the amount and distribution of the honorarium, through indicators of remuneration determination. The total remuneration received by the Board of Commissioners is Rp.1,506,152,000 for 2020.

Risk management is a set of procedures and methodologies used to identify, measure, monitor and control risks arising from business activities. Effective risk management will allow the Company to have greater control in achieving the right balance between acceptable risk and estimated risk. Indications of risk inherent in the company's business and efforts to reduce the level of risk are as follows:

  1. Production Risk.
    As a company with integrated facilities, which include aluminum smelting furnaces, dies, press machines, surface finishing facilities (anodizing and painting), complete equipment for high-precision products (precision tools), ladder division, trading division and has subsidiaries. which is engaged in construction (applicator), the Company is required to ensure that every process and division produces the best in order to avoid correction and revision costs as well as delays in delivery time. Therefore, a risk and opportunity review is always carried out in every line related to production. Thus, for every risk that occurs, the Company already has a plan for handling it.
  2. Risk of Availability and Quality of Raw Materials.
    To meet the availability of raw materials with quality that is in accordance with what is needed in the production process, there are two vital things that are interrelated to avoid the risk of stopping the production process. Therefore, mitigation is carried out by controlling the stock of the main raw materials originating from 4 foreign suppliers and 1 domestic supplier accompanied by a minimum long-term purchase contract of 1 year for each supplier and ensuring the suitability of the composition of the raw materials ordered by conducting an Incoming Inspection.
  3. Financial Risk.
    The Company has debts to several banks, both in the form of investment credit or working capital as well as Letters of Credit (LC) for the purchase of imported raw materials in foreign currencies at different rates. For this reason, the Company seeks to minimize exposure to foreign exchange differences by conducting Trust Receipt (TR) using the Rupiah value which has reached 80% of the total purchases using the LC Import facility.

The Whistle Blowing System (WBS) is a means of communication to report actions related to acts of violations or alleged violations, both against the law, code of ethics and/or conflicts of interest committed by the company's internal parties. The implementation of WBS is expected to be able to overcome the limitations of the internal control system and provide guarantees for early detection of violations that occur.

Submission of Violation Reports
Submission of violation reports is carried out in 2 ways, namely directly and indirectly. Directly by reporting directly to the Personnel, Security, Supervisor and Plant Manager. Indirectly, namely reporting through other means such as suggestion boxes, emails, telephones and mobile phones.


Protection for Reporters
The Company will ensure the security of the whistleblower and the reporter will receive recognition and appreciation from the Company in the form of a thank you from the management and record the condition of the employee concerned with a separate assessment.


Handling and the Party Managing Complaints
Each complaint or reporting disclosure is carried out by a WBS administrator team formed by the Board of Directors to conduct audits, records and corrective actions as well as imposing sanctions on the reported parties. It is also obligatory to communicate with the local police if things are found that are suspected of being serious and certain violations.

Incoming and Processed Complaints in 2019
In 2020, no complaints or reports were received and handled by the Company.

Social and environmental responsibility (Corporate Social Responsibility - CSR) is the Company's commitment to participate in sustainable economic development in order to improve the quality of life and the environment that is beneficial, both for the Company itself, the local community and society in general by taking into account the expectations of stakeholders, in line with established laws and norms of behavior and integrated with the organization as a whole. The cost of implementing CSR in the Company is carried out centrally by the Group amounting to Rp.3,272,947,899 with the Company's contribution of Rp.482,672,660 for 2020.

Living environment
The Company is committed to complying with laws and regulations and other requirements related to environmental management, preventing environmentalpollution, striving for energy and natural resource efficiency and environmental empowerment, including:

  • The use of natural gas that is more environmentally friendly for the production process of smelting and heating, with the impact of lower pollution levels. With the Regenerative Burner technology, the wasted heat from the chimney can be recovered to help the combustion process by 20%.
  • Get a blue rating for the assessment of waste management correctly, in accordance with the provisions and quality standards required under the law of the Ministry of Environment and Forestry.
  • Inspection of wastewater samples, ambient air samples and air emissions by the Sidoarjo Regency Environmental and Hygiene Service is carried out regularly which is used as a routine UKL-UPL evaluation report.

Employment

  • In 2018, the Company signed a Collective Labor Agreement between the Board of Directors and the Management of the SPSI Work Unit to strengthen the relationship between the Company and employees with a validity period of up to 2020 and has beenregistered with the Manpower and Transmigration Office of East Java Province.
  • The employee turnover rate in 2020 is 2.07% with 3 main reasons, namely retirement, dissatisfaction with compensation provided by the company and family factors.
  • The Company ensures that the health of all employees, their spouses and children is included in the Indonesian government's health program through the Social Security Administering Office.
  • Employee remuneration is provided in the form of salary, annual bonus, THR, gratuities and in kind. For permanent employees, giving in kind is carried out simultaneously with the provision of THR and is given based on years of service with a separate nominal calculation.
  • The work accident rate is 0.38% in 2020 with the most cases occurring in the company's work environment.
  • The Company conducts regular reports every three months to the Head of the Manpower Office of Sidoarjo Regency for Occupational Safety and Health Activities. The activities or training carried out are firefighting training, evacuation exercises, first aid training (First Aid in Accidents), PPE (Personal Protective Equipment) and Chemical Handling.
  • Provide opportunities for employees to attend training or seminars conducted by other parties or organized by the Company itself. The trainings that have been attended or organized by the Company include internal audit webinar based on ISO19011:2018 and socialization on prevention of the impact of domestic waste and socialization of AEO (Authorized Economic Operator).
  • Certified employees who have expertise in operating certain equipment or machines such as forklifts and lifting taps.
  • The mechanism for complaints on labor issues is contained in the Procedure for Submission of Grievances which can be submitted in writing to the direct supervisor or through the suggestion box. Within 5 working days it will be followed up with a meeting of the Personnel and the employees themselves. Furthermore, there will be a meeting with the Plant Manager, if the results of the decision in the meeting have not reached an agreement, it will be followed by a meeting with labor union SPSI. Details of the follow-up will be recorded, including investigations, solutions, implementation and deadlines for completion.

Social and Community

  • Donated a total of 240,000 masks, 130 tons of rice, 19,000 bars of hand soap, 70 pairs of medical shoes, 250,000 instant noodle seeds, 100 water barrels and 8000 rapid test kits to the East Java Provincial Government, Surabaya Police, Gresik Regency, Government City of Surabaya and Kodam V Brawijaya to be distributed to people in suburban areas such as Gresik, Ngawi, Pacitan, Trenggalek andMadura whose distribution is assisted by Babinsa, so that it can be distributed to people who really need it.
  • Providing material donation assistance for the construction of state-owned public facilities that have lift access which is intended for people with special needs (disabled).
  • Conducting regular blood donations, so that it won an award as one of the best voluntary blood donor companies. Due to the pandemic situation, for the 2020 period new blood donations were held in August and November with a total number of 193 participants.
  • Mr.Alim Markus as the President Director, was a speaker at a public lecture at Ma Chung University in Malang with the theme "The Future Challenges of Indonesia's Millennial Generation in Global Competition".

Product Responsibility

The focal point of responsibility to consumers related to sales transactions for aluminum products carried out by the Company is to ensure that these products are sold with applicable composition and manufacturing standards, according to the specifications desired by consumers and do not have a negative impact on consumers' health.

Technical
The Company works closely with consumers even before the work starts to ensure that consumers' wishes in ideas and designs can be met. For the accuracy of each work the Company uses AutoCAD technology.

Dies Manufacturing
The Company's product development team is able to help consumers to design special dies that can improve the quality of the products produced, one of which is by using a new Vertical CNC machine that is capable of making specifications and high tolerance levels. In addition, the Company also uses CNC machines such as CNC Wire Cut and CNC EDM to produce precise dies.

Extrusion Division
The extrusion division provides both standard and specialized extrusion facilities. Advanced automatic measuring equipment is also used with the ability to accurately measure profile dimensions up to 0.001mm. This level of precision will give consumers the quality they need.

Fabrication Division
This division has received certificates from TUV and Kite Mark for various series of ladders. TUV and Kite Mark are safety standards for metal footstools for household use.

Surface Finishing
The Company is a certified PVDF wet paint applicator manufactured by PPG and Valspar for compliance with the required quality assurance and AAMA specifications in the painting process. This high quality paint comes with a 10-15 year warranty, for both standard and custom colors, and ensures long lasting durability for interior or exterior use. In addition to wet paint, PT INAI is also a certified powder coatings applicator produced by leading suppliers, such as Akzo Noble, Jotun and Dupont.

Establishing Relationships with Customers
During 2020, the Company has made several efforts to maintain good relations while realizing the Company's social and environmental responsibility to customers.

Efforts implemented include:

  1. Best Of The Best Event: An appreciation activity in the form of awards to partners who have made excellent contributions.
  2. Loyalty Program: Providing special discounts for customers who have reached a certain quantity purchase value according to the contract.
  3. Plant Visit: An activity to invite customers to see firsthand the Company's production process.

Measurement of customer satisfaction
The Company is always oriented towards customer satisfaction, therefore the Company conducts periodic surveys to determine the level of customer satisfaction as part of the process to improve service and especially the quality of products received by customers. A customer satisfaction survey for 2020 has been carried out, with the results of a satisfaction level on a scale of 3.7, the same as in 2019. There are several points that have improved significantly compared to last year, namely the frequency of on-time deliveries in accordance with the schedule and more efficient billing procedures systematic. However, there are also those who get a lower rating, one of which is the price policy, where there is a pandemic period, customers hope to get a price reduction or discount, but the Company cannot fulfill it, due to production costs that have not decreased.

Consumer Complaints
The Company provides access to customers to submit complaints or other matters relating to products and services through direct marketing staff, telephone, email, fax or the Company's website. During 2020 the number of claims received was 0.24% of the total shipments for a year, a decrease of 0.06% compared to 2019 of 0.30%. With three issues, namely dimensions, damage and defects on the surface. All claims, 100% have been properly resolved by the relevant department.

Registered Public Accountant

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan

Jl. Ngagel Jaya 90, Surabaya – 60283
Tel : (62-31)5012161
Fax : (62-31) 5012335

Share Registrar

PT Adimitra Jasa Korpora

Kirana Boutique Office
Jl. Kirana Avenue 3 Blok F3 No.5
Kelapa Gading, Jakarta Utara – 14250
Tel : (62-21) 29745222
Fax : (62-21) 29289961

On December 5, 1994, INAI conducted an initial public offering of 13,200,000 shares listed on the Surabaya Stock Exchange and the Jakarta Stock Exchange (now the Indonesia Stock Exchange / IDX). On the same day, 30,800,000 founding shares were listed with a nominal value of IDR 1,000 per share.
Next on January 29, 1996, a 1:2 share was split from total of 44,000,000 shares to 88,000,000 shares listed on the Indonesia Stock Exchange. From the initial Rp.1,000 per share, it was divided into Rp.500 Continuing the distribution of bonus shares on February 26, 1996 totaling 70,400,000 shares so that the total number of shares listed on the IDX up to the end of 2013 was 158,400,000 shares.
In 2014, INAI carried out corporate action in the form of splitting the nominal value of shares (stock split) from the beginning Rp.500 per share divided into Rp.250 per share, hence effective February 12, 2014 the number of shares of the Company is 316,800,000 shares which are also listed on the Indonesia Stock Exchange.
Most recently, there was a split of the nominal value of the Company’s shares (stock split) which began to effective on the stock exchange on October 26, 2017 at a ratio of 1:2, so that the nominal value of the shares is currently Rp. 250 per share to Rp. 125 per share, and the number of shares of the Company 316,800,000 changed to 633,600,000

Capital Market Supporting Institutions and/or Professionals

  1. Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners as Independent Auditors of INAI Financial Statements, with a total fee of around Rp.235,000,000 for the assignment of General Audit of Financial Statements as of December 31, 2020.

  2. PT Adimitra Jasa Korpora as an INAI supporting securities administration bureau with a total fee of around Rp.22,000,000 for the assignment period of 2020.

Award / reputation obtained by PT Indal Aluminum Industry Tbk in 2018

Obtained Accreditation Certification from the National Accreditation Committee for Testing Laboratories and Calibration Laboratories for the period 27 February 2019 – 26 February 2023.

Received a Certificate of Approval ISO 9001:2015 from PT Lloyd's Register Indonesia for a validity period until January 23, 2023.

Obtained a BLUE PROPER rating in the company's performance appraisal program in environmental management of Kementerian Lingkungan Hidup dan Kehutanan Republik Indonesia ( Ministry of Environment and Forestry) for 2019-2020 period.

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