Business Ethics

CODE OF CONDUCT

The Company believes that managing the Company’s management in accordance with Good Corporate Governance can increase the success of the organization. Therefore, the management of the Company has decided to apply the principles of Good Corporate Governance (“GCG”) as implied in the implementations of Business Ethics and Work Ethics.

Since the beginning of 2010 the Company has had guidelines for behavior in Business Ethics and Work Ethics in a corporate environment, which known as “EBEK”. EBEK is guideline for attitude, behavior and workings of the Voksel’s member which are expected to improve the overall quality Voksel in developing a sustainable business.

 

Provision and Contents of Code of Conducts

Business Ethics

Good Corporate Governance has several principles, including Transparancy, Accountability, Reliability, Responsibility and Fairness (TARRIF). Through these principles, which are also in accordance with the Core Values of the Company, Management, and employees of the Company are expected to be encouraged to behave professionally, transparently and efficiently in carrying out their activities, always obey to the applicable law and regulations and are consistent with the business standards and professional ethics.

All Commissioners, Directors, employees, or everyone in the Subsidiary or their agents or representatives who acts on behalf of the Company are required to carry out all the duties and tasks in accordance with the policies contained in the Implementation of Business Ethics, as well as to report any case of divergence on the implementation of the Ethics business.

Work Ethics

Work ethic explains how an employee should behave in related to the parties inside the company. Accumulation of attitudes, behaviors, how to relate and how work processes implemented, will build a “Work Culture”, which is one of important element in the Company.

Work ethic involves the following:

1. Employee attitudes inside the Company.
2. Employee attitudes with the authority and position in the Company.
3. Employee relations with superiors and subordinates.
4. Employee relations with other employee.

The Company implements Business Ethics and Work Ethics by observing the following matter:

• Building commitment, involvement, and leadership in all levels such as Commissioner, Director, Management and Employee.
• Socializing this business ethics in New Employee Orientation Program (NEOP) and make repetition regularly to all division level.
• Recognizing the ethics implementation as a part of business practice and employee assessment.
• Developing exist Business Ethic Implementation guidelines and elaborating further to become various Policy and Company’s Regulation.
• Completing the Company’s Regulation with sanction on violation and building system so the Business Ethic can be monitored.

EBEK binds the Company’s member in one commitment. Therefore, all Voksel members including the Board of Commissioners and Directors are required to give compliance statement by signing in the EBEK Book.

Statement of Code of Conduct is Applicable to All Company Members

With the implementation of Code of Conduct to all Company members, the Company applies the principle of justice and equity. Both Business Ethics and Work Ethics binds all members of the Company with sanctions for every Code of Conduct violation.