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Implementing the Best Governance, Astra Otoparts Wins the Best Right of Shareholders at the 12th IICD Award

PT Astra Otoparts Tbk (Astra Otoparts) won an award at the 12th Indonesian Institute for Corporate Directorship (IICD) Corporate Governance Award 2021 for the middle market capitalization sector (MidCapitalization Public Listed Company) in the Best Right of Shareholders category on Monday, 31 May 2021. Activities This is an annual event to give appreciation to public companies with the best corporate governance practices.

"This award is intended for issuers who, in difficult times due to the Covid-19 pandemic, are still consistently running their companies with good corporate governance," said IICD Chairman, Sigit Pramono.

The Best Right of Shareholders award which was received directly by the Corporate Secretary, Legal and Communications Division Head, Alberto Siahaan. Best Right of Shareholders is an appreciation for public companies that pay special attention to shareholders through the fulfillment of shareholders' rights in carrying out continuous control over the course of the company's operational activities.

There are two sectors participating in this event, namely 100 issuers with the largest market capitalization (Big Capitalization Public Listed Company) and 100 issuers with medium market capitalization (Mid Capitalization Public Listed Company). The assessment of the two sectors was carried out using the ASEAN Corporate Governance (CG) Scorecard method conducted by 10 IICD assessors. In addition to the Best Right of Shareholders category, there were 9 other award categories, namely: Best Overall, Best Financial Sector, Best Non-Financial Sector, Best State Owned Enterprise, Best Equitable Treatment of Shareholders, Best Role of Stakeholders, Best Disclosure & Transparency , Best Responsibility of the Boards, and Most Improved.

This appreciation event was also attended by the 11th Vice President of the Republic of Indonesia, Prof. Dr. Boediono, B.Sc., M.Ec. and the Minister of Communication and Information of the Republic of Indonesia for the period 2014-2019, Rudiantara. Prof. Dr. Boediono, B.Sc., M.Ec. who is also the Chairman of the Advisory Board of the Indonesian Institute for Public Governance (IIPG), said that the corona virus pandemic was a test for public health systems in various parts of the world, which in turn helped change business patterns in all business sectors.

"GCG is the foundation of whatever we have, from whatever strategy we take. However, it is still not enough. In this massive change of situation and conditions both domestically and globally, it is necessary to think about how to re-implement the syllabus, including including the efforts and foundations of the director in implementing GCG in the midst of this transition are to keep the economy and business stable," he said.