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Board of Directors

Alim Markus

Presiden Director

Indonesian citizen, 68 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 June 20, 2017 with a term of office until the end of the 2020 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 2019 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, 66 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 June 20, 2017 with a term of office until the end of the 2020 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 2019 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, 62 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 June 20, 2017 with a term of office until the end of the 2020 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 2019 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 58, 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 June 29, 2018 with a term of office until the end of the 2021 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 2019 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, 52 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 June 20, 2017 with a term of office until the end of the 2020 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. 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, 59 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 June 29, 2018 with a term of office until the end of the 2021 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 2019 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, 95 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 June 20, 2017 with a term of office until the end of the AGMS 2020. 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 2019 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, 60 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 June 20, 2017 with a term of office until the end of the 2020 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 2019 attended audit management training. He has no affiliation with the members of the Board of Commissioners or Directors and Major Shareholders.

Audite Commitee

In the context of carrying out its supervisory and advisory duties, the Board of Commissioners requires an Audit Committee that is tasked with professionally and independently 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 who serves as chairman is one of the Independent Commissioners. The composition of the Audit Committee is as follows:

  1. Drs.Supranoto Dipokusumo (Chairman)
    Indonesian citizen, 60 years old, completed his MBA study program at the University of Toledo, USA in 1992. He has joined the Company since 2001. Currently he also serves as an Independent Commissioner of PT Alumindo Light Metal Industry Tbk.
  2. Heri Kustiyono Rudiantoro (Member)
    Indonesian citizen, 61 years old, completed his Economics studies majoring in Accounting at Narotama University, Surabaya and has worked in the Public Accounting Firm for 17 years. He joined the Maspion Group since 2000.
  3. Bambang Njoto Prajitno (Member)
    Indonesian citizen, 54 years old, completed his Economics studies majoring in Accounting at Brawijaya University, Surabaya, having 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/2018 dated July 13, 2018 the term of office of the members of the Audit Committee starts from the date of the Decree until the closing of the Company's AGM in 2020.

Independence of the Audit Committee
In order to be able to provide accountable references, opinions and suggestions, and carry out their duties and responsibilities in a professional and independent manner without any conflict of interest and intervention from any party, all members of the Company's Audit Committee are from independent parties chosen according to their abilities, backgrounds, experience and education. All members of the Audit Committee do not own the Company's shares, do not have a 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
Audit Committee meetings are held at least once in 3 (three) months and are attended by at least more than ½ (one half) of the number of members. Each Audit Committee Meeting is set forth in the Minutes of Meeting and signed by all members of the Audit Committee present and submitted to the Board of Commissioners.

During 2019 the Audit Committee held meetings 4 times with an average attendance rate of 100% for each member.

Audit Committee Training
Training or seminars attended by members of the Audit Committee in 2019 are:

  1. March 2019, Sector INKB, OJK and AP3JT, organizers of IAPI, Denpasar
  2. May 2019, Non-Performing Receivables: Implications, organizer of IAPI, Jakarta
  3. May 2019, Capital Market and OJK, organizer of IAPI, Jakarta
  4. October 2019, Accounting, Tax and Legal Update PSAK 71, 72 and 73,PWC organizer

A brief description of the Audit Committee's Activities and Reports
During 2019, the Audit Committee has carried out its duties, responsibilities and authority in accordance with the Financial Services Authority Regulations and the Audit Committee Charter, including

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.

Company Secretary is an individual or person in charge of a work unit that carries out the function of the company 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 GCG principles as well as all applicable laws and regulations.

Training or socialization activities that followed during 2019 include:

  1. Socialization of the Use of KSEI e-Proxy and e-Voting Platform Services for Issuers, organized by the Indonesian Central Securities Depository (KSEI) and the Indonesian Issuer Association (AEI).
  2. Dissemination of Financial Services Authority (POJK) Regulations concerning Changes in Capital Increase of Open Companies by Giving Pre-emptive Rights by the Financial Services Authority (OJK), Indonesian Stock Exchange (BEI) and AEI
  3. Integrated Electronic Reporting Socialization between OJK SPE and IDX by OJK, IDX and AEI
  4. Training on Understanding, Planning and Preparation of Sustainable Reports based on POJK-51 organized by Karisman Consulting.
  5. Socialization of Integrated Licensing and Registration System (SPRINT) E-Registration Pre-emptive Rights (HMETD) by OJK, IDX and AEI.

The implementation of tasks during 2019 include:

  1. Assisting the Board of Directors and Board of Commissioners in implementing corporate governance, especially those relating to public information disclosure, including the availability of information on the Company's website and reporting on the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) in a timely manner.
  2. Doing the 2018 Annual Report book
  3. Participate in the 2019 Capital Market Summit & Expo
  4. Holding an Annual GMS on 27 June 2019 at the Quest Hotel in Surabaya
  5. Holding public presentations and press conferences on 27 June 2019
  6. Receive visits from the Ministry of Foreign Affairs for Latin America and the Coordinating Ministry for Economic Affairs respectively in April and August 2019.
  7. Coordinate other activities related to the duties of the Corporate Secretary.
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