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Company Overview

PT Indal Aluminum Industry Tbk (Company) was established in 1971, 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, 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.
 

Basic Implementation of Corporate Governance

As a public company listed on the Indonesia StockExchange (IDX), the implementation of the Good Corporate Governance (GCG) of the Company is based on the rules and regulations in force in Indonesia. However, the implementation of GCG is not only aimed at meeting applicable regulations and regulations, but also seeks to place GCG as the main foundation in conducting business, and is used as a principle in order to maintain the Company's existence in facing challenges and business development, especially in the aluminum industry. Therefore, the Company is committed to applying the principles of transparency, fairness, accountability, independence and accountability in all operational activities.

Corporate Governance Structure

The corporate governance structure includes several important aspects that play a role in strengthening the control and management functions of the company, which consists of the main organs namely the General Meeting of Shareholders (SGM), the Board of Commissioners and Directors, and supporting organs which include the Corporate Secretary, Audit Committee and Internal Audit Unit.

The Company encourages a reasonable relationship between the Company's Organs in the effective implementation of Good Corporate Governance, by carrying out its functions in accordance with the provisions of the Articles of Association and the prevailing laws and regulations based on the principle of independence in carrying out functions and roles for the interests of the Company and mutual respect for duties and responsibilities each.

The code of ethics is used as a reference for every person in the company to interact with stakeholders and fellow company people to maintain and grow the profile, image and reputation of the company by requiring all company people to carry out their business activities based on morals that can indirectly maximize value for shareholders. The Code of Ethics is formulated with a spirit of honesty, responsibility, mutual trust, openness and cooperation in every business activity that covers all aspects relating to individuals, companies, industries and society.

The code of conduct is regularly socialized throughout all parts of the Company, and all new employees will work to sign this Code and will be re signed as a sign of approval for each year.

The Code of Ethics also applies to the Board of Commissioners and Directors in connection with all activities on behalf of the company. Every level of the organization (including the Board of Commissioners and Directors) understands that if a violation occurs, the Company will take disciplinary action including termination of employment. In addition, the Code of Conduct is also regularly reviewed and updated to ensure its alignment with the objective of the Code of Conduct.

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 obey the laws, rules and regulations of the country and become law-abiding citizens to ensure that law-abiding corporations.

Creating Clean and Green Businesses and Products
The best companies must take responsibility for society and the larger community. By creating a clean and green business and product, the Company will be able to serve the community in the long run with its true purpose.

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

In accordance with the Articles of Association, the honorarium of the Board of Directors and Board of Commissioners is determined at the Annual SGM. Furthermore, the SGM authorizes the Board of Commissioners to determine the amount and distribution of the honorarium among members of the Board of Directors and Board of Commissioners. The amount of remuneration for each member is determined according to the function and competencies of each member through indicators of remuneration determination. The total remuneration received by the Board of Directors and Board of Commissioners each are Rp.5.338.627.000 and Rp.1.503.939.000 for 2019.

The company's activities are always faced with risks that are closely related to its function of creating value for stakeholders. The rapid development of the external and internal environment causes business risks to become increasingly complex. The creation of GCG is inseparable from the application of risk management, because through the formal, structured and integrated application of risk management is able to give the Company strength to adapt to the business environment. Some risks faced by the company include:

  1. Risk of Availability of Main Equipment and Facilities.
    In order to fulfill product demand from consumers, which demands speed in the production process, accuracy in delivery and fulfillment of output in accordance with installed capacity, the occurrence of disruption or damage to equipment and main facilities can hamper the production process. Therefore, the Company through the relevant departments ensures that the main equipment and facilities are in top condition by carrying out periodic maintenance, timely replacement of spare parts, rejuvenation of main equipment and controlling stock of spare parts.
  2. Risk of Availability and Quality of Raw Materials.
    To meet the availability of quality raw materials in accordance with what is needed in the production process are two vital things that are interrelated in order to avoid the risk of stopping the production process. For this reason, mitigation is carried out by controlling the stock of the main raw materials that originate from 4 suppliers accompanied by a minimum long-term purchase contract for 1 year for each supplier and ensuring the conformity of the composition of the raw materials ordered by conducting Incoming Inspections.
  3. Financial Risks
    The Company has debt with several banks, both debt in the form of investment credit or working capital and also a Letter of Credit (LC) for the purchase of imported raw materials in foreign currencies at different rates. For this reason, the Company seeks to minimize its exposure to foreign exchange differences by conducting a Trust Receipt (TR) using the Rupiah value which has reached 80% of total purchases using the LC Import facility

Whistle Blowing System (WBS) is a means of communication to report actions related to violations or suspected violations, both against the law, the code of ethics and/or conflicts of interest committed by internal company parties. WBS hopes are expected to be able to overcome the limitations of the internal control system and provide a guarantee of early detection of violations that occur.

Submission of Violation Reports
Submission of violation reports is done in 2 ways, namely directly and indirectly. Directly by reporting directly to the Personnel, Security, Supervisors and Plant Managers. Indirectly, reporting through other means such as suggestion boxes, e-mails, telephone and mobile phones.


Protection for Reporters
The Company will guarantee the security of the reporter and the reporter receives recognition and appreciation from the Company in the form of a thank-you note from management and records the condition of the employee concerned with a separate assessment.


Handling and the Party Managing Complaints
Every complaint or disclosure of reporting is carried out by a team of WBS administrators formed by the Board of Directors to conduct audits, record and correct corrective actions and impose sanctions on the reported party. It is also mandatory to be communicated with the local Police if there are found cases of suspected serious and certain violations.

Incoming and Processed Complaints in 2019
In 2019, 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 considering the expectations of stakeholders, in line with established laws and norms of behavior as well as 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.2,524,517,788,- with the Company's contribution of Rp.343,184,292 for 2019.

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

  • The use of more environmentally friendly natural gas for the smelting and heating production process, with the impact of lower pollution levels. With Regenerative Burner technology, the heat wasted from the chimney can be recovered to help the combustion process by 20%.
  • Get a blue rating for evaluating waste management correctly, in accordance with the provisions and quality standards required under the laws of the Ministry of Environment and Forestry.
  • Examining waste water samples, ambient air samples and air emissions regularly which are used as routine UKL-UPL evaluation reports.

Employment

  • In 2018, the Company signed a Collective Labor Agreement between the Directors and the Management Unit of the SPSI Work Unit to strengthen the relationship between the Company and employees with a validity period until 2020 and has been registered with the East Java Province Manpower and Transmigration Office
  • The employee turnover rate in 2019 is 0.37% with 3 main reasons, namely retirement, compensation and family.
  • The Company guarantees that the health of all employees, spouses and their children is included in the Indonesian government's health program through the Social Security Administration Agency.
  • Employee remuneration is provided in the form of salaries, annual bonuses, THR, gratuities and in kind. For permanent employees, in-kind granting is carried out in conjunction with THR granting and is given based on length of service with a separate nominal calculation.
  • The rate of work accidents is 0.8% in 2019 with the most cases on the way to work.
  • The Company conducts routine reporting every 3 months to the Head of the Manpower Office of Sidoarjo Regency for Occupational Safety and Health Activities. The activities or training carried out are fire fighting exercises, evacuation drills, first aid training (First Aid for Accidents), PPE (Personal Protective Equipment) and Chemical Handling.
  • Providing opportunities for employees to attend training or seminars conducted by other parties or held by the Company itself. The training that was attended or organized by the Company included training on Cost Reduction Tooling, Aluminum Heat Treatment, Waste Water Pollution Control and AEO (Authorized Economic Operator) socialization.
  • Certified employees who have expertise in operating certain equipment or machinery such as forklifts and lifting taps.
  • The mechanism for complaints of labor problems is contained in the Grievance Procedure that can be submitted in writing to the direct supervisor or through a suggestion box. Within 5 working days will be followed up with a meeting of Personnel and employees themselves. Furthermore, there will be a meeting with the Factory Manager, if the results of the decisions in the meeting have not yet reached an agreement, will be followed by a meeting with SPSI. Detailed records will be carried out for the follow-up actions that have been carried out including investigations, solutions, implementation and deadlines for completion.

Social and Community

  • Donated donations to orphans from 39 orphanages in Surabaya and Madura totaling 2,700 children.
  • Donations in the form of building materials and funds for renovation of 2 government-owned buildings, 2 religious foundations and 2 school buildings.
  • Donations of building materials and funds to accelerate the construction of rehabilitation and reconstruction after the earthquake in Lombok, West Nusa Tenggara.
  • Organize routine blood donations, so as to get an award as one of thee best voluntaryy blood donor drivee companies.
  • Facilitating homecoming together with Eid al-Fitr free for employees and family members totaling 1,375 people with 27 bus fleets.

Product Responsibility

The focal point of responsibility to consumers related to aluminum product sales transactions conducted by the Company is to ensure that the product is sold to the applicable composition and manufacturing standards, in accordance with the specifications of the desires of consumers and does not adversely affect consumers' health.

Technical
The Company works closely with consumers even before work goes on to ensure that consumers' desires in ideas and designs can be fulfilled. 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 capable of making specifications and a high level of tolerance. 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 standard and special extrusion facilities. Automatic and sophisticated measuring equipment is also used with the ability to accurately profile dimensions up to 0.001mm. With a level of precision like this will give consumers the quality they need.

Fabrication Division
This division has received certificates from TUV and Kite Mark for various ladder series. TUV and Kite Mark are safety standards for foot support products made of metal for household needs.

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

Establishing Relationships with Customers
During 2019, the Company has endeavored to make several efforts to maintain good relations while at the same time realizing the Company's social environmental responsibility to customers. The measures implemented include:

  1. Buyer Gathering: Friendly activities with customers that end with the awarding of gifts and prizes.
  2. Loyalty Program: Giving special discounts for customers who have reached a certain tonnage purchase value according to the contract required.
  3. Plant Visit: The activity invites customers to directly see the Company's production process.

Measurement of customer satisfaction
The Company conducts customer satisfaction surveys periodically to determine the level of customer satisfaction as part of the process to improve service and especially the quality of products received by customers. Based on the results of the 2019 survey, the value of the level of customer satisfaction is on a scale of 3.7 as evidence of an increase from 2018 on a scale of 3.4 with 2 main points being improved namely product quality and packaging procedures.

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 2019 the number of claims received was 0.30% of total shipments during the year. All claims, 100% have been resolved properly 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

Next on January 29, 1996, a 1:2 share was split 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, the shares were divided into Rp.500. Continuing the distribution of bonus shares on February 26, 1996 a total of 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 a corporate action in the form of splitting the nominal value of shares (stock split) from the beginning of Rp.500 per share divided into two, 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 be effective on the stock exchange on October 26, 2017 at a ratio of 1:2, so that the nominal value of 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.226,500,000 for the assignment of General Audit of Financial Statements as of December 31, 2019.

  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 2019.

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 of February 27, 2019 - February 26, 2023.

Received ISO 9001: 2015 Certificate of Approval from PT Lloyd’s Register Indonesia for the period valid until January 23, 2023.

Received an award from Forbes, The Top 50 Listed Companies for 2019 Award.

Received the determination of the decision of the Director General of Customs and Excise for recognition as a Certified Economic Operator (Authorized Economic Operator) with a validity period from December 18, 2018 to December 17,2023.

Received an award from the Infobank finance media “100 Fastest Growing Companies Awards”.

Received the stipulation of the decision of the Minister of Finance as a Bonded Logistics Center in term of granting the license for the organizer of the Bonded Logistics Center as well as the Bonded Logistics Center business operating license.

Received the 2019 Palamarta Silver award from the Sidoarjo Intermediate Tax Office to PT Indalex (a consolidated subsidiary) as a Taxpayer who has well contributed to the achievement of the 2018 state revenue target.

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