General Meeting of Shareholders (GMS) is the highest institution and is a part of the company as a place for shareholders to make important decisions whose authority is not given to the board of directors (BOD) or the board of commissioners (BOC) within the limits stipulated by the law and/or the articles of association. GMS is also a place to decide the direction of the company and is a forum for the BOC and the BOD to report and to be responsible for the implementation of their duties and performance to shareholders.
GMS is conducted in 2 types, namely the annual GMS to validate the company’s budget and working plan (RUPS RKAP) which is held no later than 30 days after the annual RKAP runs. There is also an annual GMS to approve the annual report and to validate the annual calculation which is held no later than 6 months after the financial year ends. Meanwhile, the Extraordinary General Meeting of Shareholders (EGMS) is held at any time based on the interests of the company. The implementation is preceded by a summons for a GMS which is conducted in accordance with the applicable regulations.