Facebook Twitter Instagram Youtube Linkedin
PT Indal Aluminum Industry Tbk (Company) was founded in 1971, based on deed of establishment No.62 dated 16 July 1971 from Djoko Supadmo, S.H. which was amended by deed No.2 dated 1 November 1973 from Eliza Pondaag, S.H. and amended again by adjusting the Company's Articles of Association with the Limited Liability Company Law No. 40 of 2007 deed No. 13 dated 4 July 2008 from Dyah Ambarwaty Setyoso, S.H., which has received approval from 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 further amendments to 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 number AHU-AH.01.03-0953380 and number AHU-AH-01.03-0953381 both dated 30 July 2015 and published in the State Gazette of the Republic of Indonesia dated 27 November 2015 number 95 Supplement number 1102/L. Furthermore, changes to Deed no. 93 dated 20 June 2017 from Sitaresmi Puspadewi Subianto, SH as stated in the letter from the Director General of General Legal Administration number AHU-AH.01.03-0153357. And finally, Amendment to Deed no. 38 dated 15 June 2023 from Anita Anggawidjaja, S.H. as in the letter from the Director General of General Legal Administration number AHU-0039257.AH.01.02.
Since 1994, the Company has been a public company and is currently still listed on the Indonesia Stock Exchange.
To become a market leader in the Aluminum Extrusion and Fabrication industry in Asia.
Providing the best service to customers with innovation, continuous improvement in productivity and efficiency.
Based on adjustments to article 3 of the Company's Articles of Association to align the Company's Aims and Objectives and Business Activities with the 2020 Standard Classification of Indonesian Business Fields (KBLI) as stated in the Deed of Notary Anita Anggawidjaja, S.H, the Company is a company engaged in industry, trade and services for several business activities, including managing aluminum ingot or billet raw materials into aluminum extrusion profiles which are used for ready-to-install building materials for the construction industry, home industry, electronic/automotive components, medical device components, aluminum solar panel frames and so on.
Presiden Director
Indonesian citizen, 72 years old, serves as president director with the task of leading the management of the Company and being 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. Appointed as management of the Company at the AGM on 15 June 2023 with a term of office until the end of the AGM in 2026. He is one of the founders of the Company and has joined with the Maspion business group throughout his career. Currently he also serves as Chair of the Indonesia China Business Council (ICBC) and Chair of the East Java Indonesian Entrepreneurs Association (Apindo), and other organizational positions. He also holds commissioner and director positions 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 2023 financial year, he has attended various educational or training seminars related to prospects and strategies in the business world. He has an affiliate relationship with members of the Board of Directors (Alim Mulia Sastra and Alim Prakasa) and major shareholder companies.
Director
Indonesian citizen, 70 years old, serves as managing director with duties in the Company's cost and expense control function. Completed business studies in Singapore in 1974 and started his career in the Maspion business group in 1975. Appointed as the Company's management at the AGM on 15 June 2023 with a term of office until the end of the 2026 AGM, and previously served as Commissioner of the Company. Currently he also holds various positions in the Maspion business group as a member of the Board of Directors of PT Maspion, PT Alumindo Light Metal Industry, Tbk and PT Maspion Kencana and the Board of Commissioners of PT Maspion Industrial Estate. During the 2023 financial year, he attended several trainings related to production operational control. He has an affiliate relationship with members of the Board of Directors (Alim Markus and Alim Prakasa) and Major Shareholder companies.
Indonesian citizen, 66 years old, serves as executive managing director with the task of carrying out all operational activities of the Company. Completed studies at St.Mary University, Canada. Since 1981 he has joined the Maspion business group. Appointed as management of the Company at the AGM on 15 June 2023 with a term of office until the end of the 2026 AGM. Apart from that, he also holds various strategic positions in the Maspion business group as a Director (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 2023 financial year, he will participate in various seminars and exhibitions related to products and production processes. He has an affiliate relationship with members of the Board of Directors (Alim Markus and Alim Mulia Sastra) and major shareholder companies.
Indonesian citizen, 62 years old, serves as director with the main task of managing the Company's financial management. Appointed as management of the Company at the AGM on 15 June 2023 with a term of office until the end of the 2026 AGM. Completed postgraduate education at the Indonesian Management Development Institute. Previously, he had a career in the banking sector for 22 years in various national and foreign banks with his last position as Vice President and a 6 year career in a non-bank company. He started his career in the Maspion business group in 2013, and held concurrent positions as Director at PT Alumindo Light Metal Industry Tbk. During the 2023 financial year, he participated in 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 members of the Board of Commissioners or Directors or Major Shareholders.
Indonesian citizen, 56 years old, serves as 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 AGM on 15 June 2023 with a term of office until the end of the 2026 AGM. Completed a postgraduate education program in the field of strategic management. He has joined the Maspion business group since 1994. Currently also serves as Director at PT Indalex (a subsidiary of the Company), PT Warna Cemerlang Industri , PT Indal Reiwa Auto and PT Ishizuka Maspion Indonesia. During the 2023 financial year, he will attend training related to machinery facilities and product quality. He has no affiliation with members of the Board of Commissioners or Directors or Major Shareholders.
President Commissioner
Indonesian citizen, 64 years old, serves as president commissioner with the task of leading supervision over all Company management and being the coordinator of all other commissioners. Appointed as management of the Company at the AGM on 15 June 2023 with a term of office until the end of the 2026 AGM. Completed the MBA study program at the National University of Singapore. He started his career in the Maspion business group in 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 2023, attend training related to Company Financial Strategy. Has no affiliation with members of the Board of Commissioners or Directors and Major Shareholders.
Independent Commissioner
Indonesian citizen, 64 years old, serves as commissioner with the main task of the internal audit function. Appointed as management of the Company at the AGM on 15 June 2023 with a term of office until the end of the 2026 AGM. Completed the MBA study program at the University of Toledo, USA. He has joined the Company since 2001. He also serves as Chair of the Company's Audit Committee and Independent Commissioner of PT Alumindo Light Metal Industry, Tbk. During the 2023 financial year, he will attend audit management training. He has no affiliation with members of the Board of Commissioners or Directors or Major Shareholders.
In order to carry out its supervisory and advisory duties, the Board of Commissioners requires an Audit Committee whose duties are professional and independent in conducting reviews, providing advice and recommendations for the interests of the Company relating to the financial reporting, audit and compliance processes. Through the Decree of the Company's Board of Commissioners, the Company's Audit Committee consists of 3 people and the one who serves as chairman is an Independent Commissioner. The composition of the Audit Committee is as follows:
Term of Office of Audit Committee Members Based on the decision of the Board of Commissioners No.003/INAI-DK/SK/2023 dated 15 June 2023, the term of office of the members of the Audit Committee startsfrom 15 June 2023 until 2026 or until there are changes made by the Board of Commissioners.
Audit Committee Independence In order to be able to provide references, opinions and suggestions that are accountable, as well as carry out their duties and responsibilities professionally and independently without any conflict of interest or intervention from any party, all members of the Company's Audit Committee come from independent parties selected according to their abilities, background, experience and education. All members of the Audit Committee do not own shares in the Company, 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 meetings are held at least once every 3 (three) months and attended by a minimum of more than ½ (one half) of the number of members. Each Audit Committee Meeting is outlined in the Minutes of Meeting and signed by all Audit Committee members present and submitted to the Board of Commissioners.
During 2023 the Audit Committee will hold 4 meetings with an average attendance rate of 100% for each member.
Audit Committee Training The training or seminars attended by Audit Committee members in 2023 are:
A brief description of the Audit Committee's Activities and ReportsDuring 2023, the Audit Committee has carried out its duties, responsibilities and authority in accordance with the Financial Services Authority Regulations and the Audit Committee Charter, among others.
The Corporate Secretary is held by Ariawan Wiradinata, based on a letter of appointment from the company's Directors since 2006. Domiciled in Surabaya, East Java and joined the Maspion Business Group since 1995. Completed his Master's degree in Financial Management from the University of 17 August 1945 Surabaya.
A Corporate Secretary is an individual or person in charge of a work unit who carries out the function of a corporate secretary to bridge communication between the Company and the public and maintain information transparency. Any information conveyed 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 GCG principles and all currently applicable laws and regulations.
Training or outreach that will be attended during 2023 includes:
Implementation of tasks during 2023 include:
PT Indalex, domiciled in Sidoarjo, Construction Services business type, operational year 1993, with assets as of 31 December 2023 amounting to IDR 590,340,709,004.00. Received the 2019 Palamarta Silver award from the Sidoarjo Intermediate Tax Service Office to PT Indalex as a Taxpayer who has made a major contribution to achieving state revenue targets.
PT Indal Investindo, domiciled in Surabaya, investment business type, operational year 1997, with assets as of 31 December 2023 amounting to IDR 463,970,934,653.00.
PT Indal Servis Sentra, domiciled in Surabaya, General Trading business type, operational year 1999, with assets as of 31 December 2023 amounting to IDR 2,390,000.00.
PT ERP Multisolusi Indonesia, domiciled in Surabaya, Software Services business type, operational year 1999, with assets as of 31 December 2023 amounting to IDR 1.00.
PT Warna Cemerlang Industri, domiciled in Gresik, Paint Manufacturing business type, operational year 1999, with assets as of 31 December 2023 amounting to IDR 38,661,572,804.00.
PT Indal Reiwa Auto, previously known as PT UACJ Indal Aluminium, domiciled in Gresik, Aluminum Extrusion Manufacturing business type, operational year 1998, with assets as of 31 December 2023 amounting to IDR 422,195,186,288.00.
Basic Implementation of Corporate Governance
PT Indal Aluminum Industry Tbk has placed the principles of Good Corporate Governance (GCG) as a high priority and continues to improve by making the best effort to comply with all relevant regulations under the leadership of the Board of Directors and supervision of the Board of Commissioners. The Company maintains adequate internal controls by implementing appropriate structures and rules and monitoring initiatives at both operational and management levels. With the support of all company shareholders including the Maspion Group, the company believes that the implementation of Good Corporate Governance is believed to be able to strengthen the company's competitiveness on an ongoing basis, manage resources and risks more efficiently and effectively, increase company value and investor confidence. To achieve this requires a commitment to implementing the principles of Good Corporate Governance, including transparency, fairness, accountability, independence and responsibility in all operational activity practices.
Corporate Governance Structure
Based on Law No. 40 of 2007 concerning Limited Liability Companies, company organs consist of the General Meeting of Shareholders (GMS), Board of Commissioners and Directors. These three Company organs play a key role in the successful implementation of Good Corporate Governance. Company organs carry out their functions in accordance with statutory provisions, articles of association and other provisions based on the principle that each organ has independence in carrying out its duties, functions and responsibilities for the interests of the Company. The management system adopts a two-body system, namely the Board of Commissioners and Directors, where in accordance with applicable laws and regulations, the Board of Commissioners and Directors can form supporting organs for the successful management of the company.
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 was prepared as a manifestation of this commitment and describes the values in the Company's work culture into an interpretation of behavior related to business ethics and code of conduct.
The Code of Ethics also applies as a reference for the Board of Commissioners and Directors in managing the company relating to all activities in the name of the Company. are expected to uphold the principles in this Code of Ethics.
The Code of Ethics is regularly socialized to all parts of the Company, and all new employees will sign this Code of Ethics and will be re-signed as a sign of approval every year.
The main Code of Ethics regulates behavior:
CORPORATE VALUES To create a better future for all stakeholders and develop together to serve society and the 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 be a law-abiding citizen to ensure a law-abiding corporation.
Creating Clean and Green Businesses and Products The best companies must be responsible 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 goals.
Loyalty, Capability, Hard Work and Discipline From the pillars of success and achievement. Every member of the organization must maintain their integrity and be prepared to work hard and smartly for the mutual benefit of both the Company and the individual. Organizational behavior must be carried out in a military disciplined manner but with a humane approach.
In accordance with the Articles of Association, the honorarium for members of the Board of Directors is determined at the AGM. The decision of the AGM on 15 June 2023 regarding remuneration was to agree to authorize the Company's Board of Commissioners to determine the structure and amount of reasonable remuneration for the Board of Commissioners and Directors, as well as completing other requirements in this regard. The amount of remuneration for each member is determined according to the function and competence of each member, consisting of salary and allowances. The total remuneration received by the Board of Directors is IDR 4,101,263,000.00 for 2023. As for disclosing detailed information on the amount of remuneration received by each member of the Board of Directors, the Company is still unable to convey it for one reason or another. The Remuneration Policy for the Board of Commissioners is determined at the GMS by giving authority to the Board of Commissioners to determine the amount and distribution of the honorarium amount which consists of salary and allowances through indicators for determining remuneration. The total remuneration received by the Board of Commissioners is IDR 728,932,900.00 for 2023. As for disclosing detailed information on the amount of remuneration received by each member of the Board of Commissioners, the Company is still unable to convey it for one reason or another.
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:
The Whistle Blowing System (WBS) is a communication tool for reporting actions related to violations or suspected violations, whether of the law, code of ethics and/or conflicts of interest committed by internal company parties. The implementation of WBS is expected to be able to overcome the limitations of the internal control system and provide guarantees of 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 Personnel, Security, Supervisors and Plant Manager. Indirectly, namely reporting through other means such as suggestion boxes, email, telephone and mobile phones.
Protection for Reporters The Company will guarantee the safety of the reporter and the reporter will receive recognition and appreciation from the Company in the form of thanks from management as well as recording the condition of the employee concerned with a separate assessment.
Handling and the Party Managing Complaints Every complaint or disclosure report is carried out by a team of WBS administrators formed by the Board of Directors to carry out audits, record keeping and corrective action as well as impose sanctions on the reported party. It is also mandatory to communicate with the local police if things that are suspected of being serious or certain violations are found.
Complaints Incoming and Processed in 2023 In 2023, no complaints or reports will be received and handled by the Company.
Social and environmental responsibility (Corporate Social Responsibilty - CSR) is the Company's commitment to participate in sustainable economic development in order to improve the quality of life and a beneficial environment, 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 IDR 1,717,564,606.00 with a Company contribution of IDR 198,510,558.00 for 2023.
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, the Company made an initial public offering of 13,200,000 shares which were listed on the Surabaya Stock Exchange and the Jakarta Stock Exchange (now the Indonesia Stock Exchange / IDX). On the same day, 30,800,000 founder shares were listed with a nominal value of Rp.1,000 per share. Then on January 29, 1996, a 1:2 stock split was carried out from a 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 per share. Followed by the distribution of bonus shares on February 26, 1996 in the amount of 70,400,000 shares sothat the total number of shares listed on the IDX by the end of 2013 was 158,400,000 shares. In 2014, the Company took a corporate action in the form of a stock split from initially Rp.500 per share divided into Rp.250 per share, effective as of February 12, 2014 the number of shares of the Company is 316,800,000 shares which are also listed on the Indonesia Stock Exchange. The latest is the stock split which became effective on the stock exchange on October 26, 2017 with a ratio of 1:2. So the nominal value of the shares which is currently Rp.250 per share becomes Rp.125 per share, and the Company's total shares of 316,800,000 changed to 633,600,000.
Capital Market Supporting Institutions and/or Professionals
Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners as Independent Auditors of INAI's Financial Statements, with a total fee of around Rp. 210,600,000,- for the assignment of General Audit of Financial Statements as of December 31, 2021.
PT Adimitra Jasa Korpora as the supporting securities administration bureau of INAI with a total fee of around Rp.22,000,000 for the assignment period from January 1 to December 31, 2021
Award / reputation obtained by PT Indal Aluminum Industry Tbk in 2021
Obtaining 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. Obtained International Standard Product Certification for Aluminum Standing Step Ladders from TUV SUD Product Service GmbH.