Risk Management

Risk management is an integrated part of GCG which aims to minimize the potential risk of negative events and to maximize the probability of positive events. The Company’s risk management system applies to all business units and supporting functions. The monitoring of risk management system is carried out by the Audit Committee assisted by the Internal Audit Unit.

The Company’s risk management objectives include:

• To serve as guidelines for achievement of the Company’s annual and long-term plans.
• To present useful information for decision making by the Company’s management.
• To ensure all risks are identified in order to determine risk profile that should be maintained by the Company’s management in every period.
• To support the Company’s business units in identifying, analyzing, evaluating, managing, and reporting every risk in the Company.
• To ensure there is an independent function that monitors operational and  financial activities to maintain the Company’s reputation, sustainability and profitability.  

TBS Energi Utama upholds good governance in doing business and is currently establishing a proper whistleblowing system to better accommodate reporting on suspected violations to the Company’s code of conduct. The Company has implemented open door policy for the Board of Directors and the management team to openly receive any complaints and discuss about any issues. The Company aims to create conducive work ambience by reinforcing positive work ethics and will sanction any violations according to the Company’s policy.