Enhancing Corporate Integrity and Transparency, Driving BUMD Participation in the 2024 Annual Report Awards (ARA).
Date: 06 may 2025Categories :
JAKARTA, May 6, 2025. The National Committee on Governance Policy (KNKG) held a socialization event related to the implementation of the 2024 Annual Report Award (ARA) on Tuesday (6/5). Held at the office of the Ministry of Home Affairs of the Republic of Indonesia, the socialization took place in a hybrid talk show format with the theme Leading with Integrity, Transparency, and Accountability: The Path to a Sustainable Future.
The talk show featured experienced speakers. Among them were the President Director of PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) Busrul Iman, the Chairman of KNKG Prof. Mardiasmo, the Director General of Regional Finance Development at the Ministry of Home Affairs of the Republic of Indonesia Agus Fatoni, Managing Director Stakeholders Management BPI Danantara Rohan Hafas, Chairman of the ARA 2024 Jury Prof. Lindawati Gani, Director of Regional-Owned Enterprises (BUMD) at the Ministry of Home Affairs of the Republic of Indonesia Yudia Ramli, and President Director of PT Bank Mandiri Tbk Darmawan Junaidi.
Prof. Mardiasmo explained that the registration and award categories for ARA are organized by the National Committee on Governance Policy (KNKG) in collaboration with the Coordinating Ministry for Economic Affairs, the Financial Services Authority (OJK), the Ministry of State-Owned Enterprises (BUMN), the Directorate General of Taxes, the Indonesia Stock Exchange (BEI), and the Indonesian Accountants Association (IAI). The competition is open to all companies, including BUMN, BUMD, and private companies, with a registration period starting from May 5 to May 30, 2025.
Agus Fatoni added that his side continues to encourage BUMD in Indonesia to participate in the ARA. This is because the participation of BUMD in the ARA event can be proof of confidence and courage to improve the company's quality and compete healthily in an objective assessment.
"We strongly hope that more BUMD in Indonesia will participate in the ARA event because the positive impact is very significant. Among others, it can enhance reputation, receive evaluation and improvement because the company will later receive constructive feedback related to disclosure aspects that can be improved. Furthermore, companies participating in the ARA will have global standards because the assessment does not only refer to applicable regulations but also adopts global best practices, including PUG-KI and the ASEAN Corporate Governance Scorecard recommendations," he elaborated.
Busrul also stated that his side is very pleased that the ARA activity is back in 2025 to assess the annual report for the 2024 fiscal year. As a quite prestigious event for companies in Indonesia, ARA 2024 is expected to be a platform for companies, especially BUMD, to show their commitment to integrity, transparency, and accountability in order to achieve business sustainability.
According to Busrul, when BUMD and other companies participate in the ARA event, these companies not only show the company's commitment to transparency but also contribute to improving the company's image in the eyes of the public. "Because, by participating in the ARA, it means the company demonstrates its seriousness in implementing good corporate governance through the presentation of clear, complete, and informative reports," he said.
For information, for two consecutive years, Bank Jatim has consistently received awards in the ARA. In ARA 2022, Bank Jatim successfully won first place in the Financial BUMD category. Then in ARA 2023, Bank Jatim was again named the winner for the Financial BUMD category. "The awards we have achieved mark Bank Jatim's success in implementing Good Corporate Governance (GCG) or good governance practices," said Busrul.
According to him, the implementation and strengthening of good GCG is not just an obligation. However, it must also be a necessity for public companies. Therefore, Bank Jatim's management is committed to ensuring that the principles of GCG such as transparency, accountability, responsibility, independence, and fairness become the foundation for the execution of the company's business.
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