PT Jasa Armada Indonesia Tbk (IDX: IPCM) for the first time successfully won the Annual Report Award (ARA) 2023 as the runner-up in the Non-Financial Public Company category at the award ceremony in the Main Hall of the Indonesia Stock Exchange, Jakarta.

The ARA assessment activities conducted from June to October 2024 aim to encourage the implementation of corporate governance principles among companies in Indonesia through transparency and governance practices, including sustainability, carried out through the evaluation of the 2023 annual and sustainability reports of the companies.

The assessment is conducted on the transparency of the annual report and sustainability report in accordance with applicable regulations and guidelines, and presented in a relevant and fair manner.

In accordance with the theme chosen for ARA 2023, which is “Internalizing Integrated Mindset Toward Sustainable Long Term Value Creation,” the holding of ARA 2023 aims to enhance governance practices and the integration of sustainability aspects in strategic planning and business processes in order to create long-term value and disclose it in annual reports and sustainability reports, while also achieving an improvement in the quality of information presentation in both reports.

The implementation of ARA 2023 is organized by 7 (seven) organizing agencies, namely the Financial Services Authority (OJK), the Coordinating Ministry for Economic Affairs, the Ministry of State-Owned Enterprises (BUMN), the Directorate General of Taxes of the Ministry of Finance, the Indonesia Stock Exchange (IDX), the National Committee on Governance Policy (KNKG), and the Indonesian Institute of Accountants. (IAI).

The total number of ARA 2023 participants is 167. The ARA 2023 participants are divided into 10 (ten) categories, namely: 1) Public Financial; 2) Public Non-Financial; 3) Non-Public Financial; 4) Non-Public Non-Financial; 5) State-Owned Enterprises (SOEs) Financial; 6) SOEs Non-Financial; 7) Regional-Owned Enterprises (ROEs) Financial; 8) ROEs Non-Financial; 9) Non-SOEs/Non-ROEs Financial; 10) Non-SOEs/Non-ROEs Non-Financial; and 11) Sharia Financial.

ARA 2023 uses criteria that are in line with OJK Circular Letter 16/2021 regarding the Form and Content of the Annual Report, including its annex on the Technical Guidelines for Preparing Sustainable Reports, which refer to OJK Regulation 51/2017 on the Implementation of Sustainable Finance, and accommodate the General Guidelines for Indonesian Corporate Governance (PUGKI) 2021, as well as the ASEAN CG Scorecard.

The ARA 2023 judging process consists of 2 (two) stages: the desk evaluation stage, based on the criteria set and published on the KNKG website, and the interview stage conducted to obtain a high-level view from company leaders regarding corporate governance practices and the internalization of sustainability aspects implemented by the company, as well as to confirm the results of the desk evaluation on the contents of the annual report and sustainability report.

The Jury Board, chaired by Prof. Lindawati Gani, always maintains the objectivity and independence of the ARA judging process. This is reflected in the judging process carried out and the diversity in the composition of the Jury Board, which consists of representatives from various institutions and professions, including the Directorate General of Taxes – Ministry of Finance, the Ministry of State-Owned Enterprises, the Indonesia Stock Exchange, the National Committee on Governance, and the Institute of Indonesia Chartered Accountants. Additionally, the composition of the Jury Board also includes academic elements.

President Director, Shanti Puruhita, stated that this award is a form of objective public assessment of the corporation. “We hope this award can motivate us to further enhance the implementation of Good Corporate Governance (GCG) principles, including the integration of sustainability aspects in the Company’s business processes, as well as the trust of shareholders and stakeholders in IPCM,” said Shanti in her official statement on Tuesday (10/8).