The Synergy
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Corporate Governance

Board of Commissioners Meetings

For the process of overseeing the Company’s operational activities, the Board of Commissioners conducts monthly operations and evaluation meetings, and discussions with relevant committees, in accordance with the issues that need to be addressed. Meetings may be held as deemed necessary by one or more Commissioners, or at the written request of one or more Shareholders who collectively own 1/10 or more of the total number of shares with voting rights, by stating the matters to be discussed.

Periodic meetings are held every 3 (three) months to discuss the Company’s performance, the Board of Directors work plan, as well as strategic issues requiring the approval of the Board of Commissioners. If deemed necessary, members of the Board of Directors may be invited to the Board of Commissioners Meetings.

Throughout 2018, the Board of Commissioners held 7 (seven) formal meetings and several other informal meetings to discuss the Board of Directors report results on its performance, at specific times when running the Company. The following shows the agenda and minutes of meetings, attendance, and recapitulation of the attendance of the Board of Commissioners in the meetings.

Board of Directors Meetings

The Board of Directors is required to conduct periodical meetings at least every 1 (one) month. Aside from such time, the Board of Directors meeting can be held at any time if deemed necessary by one or more members of the Board of Directors, upon written requests from one or more members of the Board of Commissioners or upon written request of one or more shareholders who jointly have 1/10 or more of the total shares with voting rights. The Company has a Corporate Calendar, related to the schedule of Board of Directors’ meetings which are arranged before the beginning of the current fiscal year.

Throughout 2018, the Board of Directors held 49 (forty-nine) meetings, both to evaluate the Company’s performance achievements, and other matters deemed important. The following presents the agenda and minutes of meetings, attendance, and recapitulation of the attendance of the Board of Directors in those meetings.

 

Joint Meeting of the Board of Commissioners by Inviting the Board of Directors

Throughout 2018, the Board of Commissioners held 4 (four) Joint Board Meeting by inviting the Board of Directors, in this case the President Director. The following shows the agenda and minutes of meetings, attendance, and recapitulation of the attendance of the Board of Commissioners and the Board of Directors at these meetings.

 

Joint Meeting of the Board of Directors by Inviting the Board of Commissioners

Throughout 2018, the Board of Directors held 4 (four) Joint Meetings by inviting the Board of Commissioners. The following shows the agenda and minutes of meetings, attendance, and recapitulation of the attendance of the Board of Directors and Board of Commissioners at these meetings.

 

Audit Committee Meetings

According to the Audit Committee Work Guidelines, Audit Committee meetings shall be conducted at least once every 3 (three) months. Throughout 2018, the Audit Committee held 8 (eight) meetings and for each meeting, the minutes of meetings were prepared and signed by each member of the Audit Committee. The following shows the agenda, minutes of meetings, attendance, and recapitulation of Audit Committee’s attendance levels in the meetings

The number of meetings of the Audit Committee has been in line with the Guidelines for the Audit Committee, where it is stated that the Audit Committee must convene a meeting at least once every three months.


Nomination & Remuneration Committee Meetings

Nomination & Remuneration Committee Meetings are held at least 1 (one) time in every 4 (four) months to complete the work program. Throughout 2018, the Nomination & Remuneration Committee held 4 (four) meetings. The following shows the meeting agenda, attendance, and recapitulation of attendance of the Nomination & Remuneration Committee in the meetings.


Investment Committee Meetings

The Investment Committee meets at least once every 3 months. Throughout 2018, the Investment Committee held 4 (four) meetings. The following show the agenda, minutes of meetings, attendance, and recapitulation of Investment Committee attendance levels in these meetings.