Well Implemented GCG Principles, PHE Wins Award in Indonesia Excellence Good Corporate Governance 2022

Jakarta, February 25, 2022 – Good corporate governance (GCG) is one of the important aspects that need to be implemented by various companies. Not only for the company’s benefit but also to support the country's economy.

PT Pertamina Hulu Energi (PHE), a Sub holding Upstream Pertamina which has implemented GCG principles aligned with the AKHLAK values, is applied in the daily work of PHE Officers.

GCG implementation in PHE's work process, as one of the nation's proud energy companies, has brought attention from several stakeholders. Namely, economic news, naming PHE as one of the companies that receive an award in the Indonesia Excellence Good Corporate Governance 2022: Implementing a Continuous Process event (24/02).

In the virtual award event, PHE managed to get an award for the Energy and Mining Industry category, received by Agung Wibowo Suryo Kusumo, Compliance Manager.

Muhamad Ihsan, Chief Editor of Warta Ekonomi, explained there are three main priority aspects to giving this award. "We want to measure GCG from various companies. With digitalization and millennials, we are faced with an increasingly transparent world. Therefore, GCG must now be equipped with a legal and regulatory framework, hierarchical organization, as well as good monitoring and internal control, which are also supported with transparency and accountability that is aligned with digitalization. That way, our steps will be more visible and transparent and more measurable," he said.

The award ceremony also received appreciation from Agus Gumiwang, the Minister of Industry. This is because GCG is an important pillar in the market economy system. He assessed that the implementation of GCG can create healthy market competition and a conducive business climate.

"Therefore, GCG implemented in Indonesian companies is important to support sustainable is implemented economic stability. The company's management must be able to formulate the right strategy to face the dynamic challenges of the present and future and make GCG the foundation in deciding whatever strategy the company will take," he explained.

Jodi Mahardi, The Deputy Coordination of the Maritime Resources of the Republic of Indonesia, said the same thing. According to him, GCG can be a solution for companies in dealing with pandemic challenges that affect corporate governance and operating systems, from adjustments to new work rhythms, dynamic business regulations, as well as various other challenges that require companies to adapt well.

“I congratulate all the companies that received the award today. I hope the company can continue to grow by implementing good principles and working to advance the nation," Jodi said.

Agung Wibowo Suryo Kusumo, Compliance Manager representing the company to receive this award, expressed his gratitude for the opportunity that PHE received. “PHE received an award in 2022 for the implementation of corporate governance in the company's business activities. The Excellence Award for Good Corporate Governance Implementation on the Company's Operational Business Process Activity for the Energy and Mining Industry category that we received today is an achievement for us to improve the implementation of better corporate governance in the future," Agung said.**