Tangerang, June 4, 2021 – The 12th Corporate Governance (CG) Conference and Award marked the seventh year of PT Matahari Department Store Tbk (“Matahari” or “the Company”; stock code: “LPPF”) proving its best Corporate Governance practices by winning the Top 3 Best in Non-Financial Sector category. At the same event, Matahari also received an award as the Top 10 Middle Market Capitalization Issuers . This event was organized by the Indonesian Institute for Corporate Directorship (IICD), a leading organization in Corporate Governance, on Monday, May 31, 2021 at the Ballroom Financial Hall Jakarta, Jl. Jendral Sudirman Kav. 52, Jakarta.
In line with IICD's mission to internalize the best CG practices and the best directorship in Indonesia, IICD has selected from around 600 issuers listed on the Indonesia Stock Exchange (IDX). They selected and assessed 200 companies with the largest and middle market capitalization based on the ASEAN CG Scorecard . The assessment was conducted in two stages: Assessment, conducted by IICD's internal team consisting of experienced and trained assessors; and Expert Review , conducted through intensive discussions between assessors and a team of reviewers who are leading CG experts. From the assessment, the Top 50 Issuers with the largest and middle market capitalization with the highest GCG practice values were selected, and Matahari received awards as the Top 3 in the Best Non-Financial Sector category and Top 10 Issuers in the Middle Market Capitalization category .
“ Good Corporate Governance is a very important focus to be implemented in daily business activities to maintain the highest standards of transparency and accountability. Our Board of Directors and Management Team strive to improve Good Corporate Governance beyond market practices and are pleased that our efforts are recognized by receiving this award,” said Miranti Hadisusilo, Corporate Secretary and Legal Director.
The 12th IICD CG Conference and Award this year was held in 2 (two) separate events, namely the IICD CG Conference with the theme, " The 10th ACGS Implementation: Road to ESG in Indonesia " which was held virtually, and " The 12th IICD CG Award " which was held offline at the Financial Hall Ballroom, Jakarta by implementing health protocol standards under the supervision of the Covid-19 Task Force. Matahari did not receive the Award in person due to strict recommendations from Matahari's Internal Safe Team Office Management regarding the ongoing Covid-19 pandemic.
