Sarinah necessitates the provision of good corporate governance (GCG) as a means of creating a business that is consistent and sustainable. The company’s GCG serve as a guideline for Sarinah’s commissioners, directors, and employees in daily business activities. To ensure that the company is ready to adapt to new shifts in regulations, Sarinah regularly adjusts its GCG principles to adhere to the latest legal codes. In doing so, Sarinah is able to realise a corporate culture that values the importance of achieving good corporate governance.
In 2017, Sarinah successfully attained a GCG score of 87.25 qualifying for the ‘Very Good’ predicate based on the company’s internal auditing team.
Sarinah upholds stringent standards in ethical and legal conduct that has been part of its identity as a reliable and trusted company. Every Sarinah employee must comply with the rules and regulations established in its Code of Conduct which serves as the primary foundation of the company’s decision-making process.
As a prominent local establishment, Sarinah readily takes the initiative to update its Code of Conduct in keeping with the developments of today’s business climate therefore providing the highest standards in corporate governance. Through the Code of Conduct, Sarinah is well-prepared to create an efficient as well as effective management system that will thrive amidst any dynamic changes in the industry.
The Board of Commissioners shall be guided by the Guidelines of the Board of Commissioners and Board Manual. The Board Manual comprises of manual work instructions of the Board of Commissioners and the Board of Directors, and describes the activities stages in a structured, systematic, understandable, and consistent manner. The Board Manual is a reference for the Board of Commissioners and the Board of Directors in performing their respective duties.
Sarinah ensures transparency is maintained in the revelation of public information to related parties. As such, Sarinah readily provides the public as well as its shareholders with a wide-range of detailed and accurate information by making available various reports that are thoroughly checked by external auditors.
At Sarinah, the division of authority is clarified in order to minimise the negative impacts associated with conflicting interests. As a responsible business entity, Sarinah employees are held accountable for their actions understanding their responsibility to the management, shareholders, and stakeholders.
Sarinah prioritises its legal duty to abide by various forms of regulations that are in keeping with the company’s duty as a good corporate citizen and to demonstrate good business ethics.
Sarinah strives to create a management system that is not influenced by external interests or are not in keeping with active regulations and its corporate principles.
Sarinah is committed to promoting and maintaining a culture of fairness through which it uses this principle as a base in conducting business practices.
The whistleblowing system is a reporting system regarding conflicting regulations, unethical acts and/or activities that are not in accordance to Sarinah’s Code of Ethics. The system is used to report violations occurring within the company’s premises and can be used where previous reporting are deemed ineffective using the formal path.
The scope of reporting that are considered as whistleblowing include:
Plaintiff of the report must carefully pay attention to the following:
Plaintiff must indicate early on a sense of accountability which includes:
In order to speed up and ease the process following on from the report submission, it is suggested that the plaintiff provide personal details particularly the address/telephone number/mobile number/fax number/email in addition to their identification card (‘KTP’) and employee identity number (‘NIP’).
PT Sarinah (Persero)
Sarinah is a state owned enterprise committed to supporting local craftsmen, communities and entrepreneurs to promote Indonesian products and serve as the home of Indonesian heritage for locals, visitors and the global export market.
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PT Sarinah (Persero) Jl. M. H. Thamrin No.11, Tel. (021) 31923008, Fax (021) 319318353