Authorities of the Board of Directors
1
33
loan granted to a subsidiary company with the condition that the loan to Subsidiary is reported to the Board of
Commissioners.
2 Pledge the fixed assets for drawdown of short term credit. 3 Release the movable fixed assets with economical life up to 5
five years. 4 Write off bad debts.
5 Establish cooperation with other business entity or other party in the form of licensing cooperation, contract management,
asset leasing, joint operations KSO, Built Operate Transfer BOT, Built Own Transfer BowT, Built Transfer Operate
BTO and other cooperation with specific value or time period determined by the GMOS.
6 Prepare and establish the organizational structure up to 1 one level below the Board of Directors.
7 Appoint the Corporate Secretary and the Head of Internal Audit Unit IA
The decision of the Board of Commissioners towards the Board of Directors proposal, is submitted or notified to the Board of Directors
within a period of 30 thirty days as regulated in Articles of Association from the receipt of the recommendation proposals or
explanation and completed documents from the Board of Directors. However, if the Board of Commissioners does not provide any
decision within the time frame, then the Board of Commissioners is considered approving the proposal of the Board of Directors.
c. The Board of Directors is authorized to perform the following deeds after obtaining a written response from the Board of Commissioners
and approval of the GMOS
68
. i. Pledge fixed assets for drawdown of mediumlong term loans
ii. Bind the Company as a guarantor borgavalist. iii. No longer collect bad debts that have been written off
iv. Conduct capital investment in other company. v. Establish subsidiaries andor joint ventures.
vi. Release equity in subsidiaries andor joint ventures.
68
Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 10
33
CHAPTER I
INTRODUCTION
CHAPTER II
BOARD OF DIRECT
ORS BOD
CHAPTER III
BOARD OF COMISSIONERS BOC
CHAPTER IV
ACTIVITY AMONG COMP
ANY’S ORGAN
CHAPTER V
CLOSING
1
34
vii. Perform merger, takeover, consolidation, separation, and the dissolution of subsidiaries andor joint ventures.
viii. Establish cooperation with other business entity or other party in the form of licensing cooperation, contract management,
asset leasing, joint operations KSO, Built Operate Transfer BOT, Built Own Transfer BowT, Built Transfer Operate
BTO and other cooperation with the value or period exceeding the assignment of GMOS.
ix. Release and write off the fixed assets of the Company, except for movable fixed assets with economical life up to 5 five
years. x. Define organizational blue print of the Company.
xi. Define and change the company logo. xii. Perform other actions and action that has not been determined
in CWPB. xiii. Establish a foundation, organization, andor association, which
is related either directly or indirectly with the Company that could have an impact for the Company.
xiv. Allocate the Company fixed and overhead cost for activities of the foundation, organization, andor association which is
related either directly or indirectly with the company. xv. Recommend the Company representatives to become
candidate of members of the Board of Directors and Board of Commissioners in a joint venture andor subsidiaries that
contributes significantly to the Company andor strategic value as assigned by the GMOS.
If within 30 thirty days from receipt of the request or clarification additional data from the Board of Directors, the Board of
Commissioners does not provide any written response, the General Meeting of Shareholders may give a decision without any written
response from the Board of Commissioners.
69
d. The Board of Directors is obligated to request for approval of the GMOS to transfer the Company’s property or to make debt security
from the Company’s property which amount is more than 50 of the total networth of the Company in one or more transactions,
ϲϵ
Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 13
34
1
35
either it is related to each other or not, which occurs within a period of 1 one fiscal year.
70