TBLA Wins The CGC Award for Best Right of Shareholders Category
[dropcap class="dropcap3"]A[/dropcap]sian Seminar Series of 42nd Asian Development Bank International Meeting was held on 1-2 May 2009 in Le Meridien, Tanah Lot, Bali. Held by Business Review, CIPE, IICD. In this seminar the Company was awarded as the winner of GCG for Best Rights of Shareholder category.
The objective of such award is a form of appreciation to companies which implement good corporate governance in their operational especially in fulfillment of GCG Principle, Transparency, Accountability, Responsibility, Independency, and Fairness.
TBLA Wins The IFRA 2008
[dropcap class="dropcap3"]T[/dropcap]he Initial Indonesian Financial Reporting Award (IFRA) 2008 held by the Faculty of Economic of University of Indonesia cooperated with Capital Market Supervisory and Financial Board (Bapepam - LK) and Bisnis Indonesia (newspaper), was held on Wednesday, 5th November 2008 at IDX Building, Jakarta. The objective of such award is a form of appreciation to companies which implement good corporate governance in presenting financial report especially the accountability and transparency principles. Of all 229 IDX listed companies from 11 different industrial sectors, TBLA is awarded as the winner in plantation sector.
The award will be held annually and hopefully it can give inspiration to other listed companies in improving their quality in making financial report.
PT TUNAS BARU LAMPUNG TBK Full Committed to RSPO
[dropcap class="dropcap3"]O[/dropcap]n January 16, 2007 Board of Directors has conducted a workshop of “Socialization and Implementation of RSPO (Roundtable on Sustainable Palm Oil) in PT TBL Tbk”, which is part of Sungai Budi Group, at Four Season Hotel, Jakarta.
By conducting of this workshop, It showed that the Board of Directors (BOD) and Board of Commissioners (BOC) of the company has a full commitment to implement RSPO in the company. The full commitment of the BOD and BOC then also brought to all plantation managers in Lampung, on its one day workshop in January 17, 2007 which was held in Nusantara Hotel, Bandar Lampung. It attended by approximately 200 people which was consist of managers / plantation assistants and also mills managers in the company.
In this seminar the Company has invited a keynote speakers from Malaysian Environmental Consultants (MEC) Sdn. Bhd, and also attended by Rabobank Indonesia Jakarta, PT Tunas baru Lampung Tbk is the only company in Indonesia that has given its full commitment to do all RSPO principles and criteria which has 8 principles with 39 criteria involving social issue, environmental, health and safety.
As on his opening speech, the President Director of the company said “related to the world development and the growing of company’s export sales to Europe, the company needs to open itself to become ready in the tight competitive market todays. In this competition, there are several requirement of standards that need to be fulfilled by the demands of the global market. These standards will always be pushed to be socialized and implemented in the Company without putting aside the social issue, environmental also health and health and safety which will become the most concern of the Company.” It shows that the company has given its full commitment to RSPO, in order to assist the sustainable lively hood.
TBLA Become a RSPO Member
[dropcap class="dropcap3"]R[/dropcap]oundtable Sustainable Palm Oil (RSPO) is a Non – Profit Association with the purpose to promote the growth and use of sustainable palm oil through co-operation within the supply chain and open dialogue with its stakeholders. It’s constituted in Zurich and govern by The Switzerland’s law. In particular, the RSPO will work on the following tasks :
- Research and development of definitions and criteria for the sustainable production and use of palm oil
- Undertake practical projects designed to facilitate implementation of sustainable best practices
- Development of solutions to practical problems related to the adoption and verification of best practices for plantation establishment and management, procurement, trade and logistic
- Acquisition of financial resources from private and public funds to finance projects under the auspices of the RSPO.
- Communication of the Roundtable’s work to all stakeholders and to a broader public.
Stockholders’ Extraordinary General Meeting
[dropcap class="dropcap3"]T[/dropcap]he Company has conducted the Stockholders’ Extraordinary General Meeting (“EGM”) which was held in Four Season Hotel, Jakarta. This EGM was attended by 94.53% of total Company’s stake and had approved by 74.59% through voting process, the following resolution has been passed :
- Approved the Company’s plan to increase the Paid Up Capitalthrough the Right Issue according to the regulation No.IX.D.1. attachment of decree of Chairman of Indonesian Capital Market Supervisory Board No. Kep – 26/PM/2003 dated 17 July 2003 about The Right Issue the approval consists of :
- Every 2 shares of the existing shareholders which was registered in the List of Shareholders dated 11 July 2006 at 14.00 wib have 6 rights to buy 6 New Shares at nominal value of Rp 125/share, is attached by 1 Warrant serial I for free. The exercise price for the right is Rp 125/share
- To issue as much as possible with the maximum amount of 536,462,400 warrant serial I which will be due in 5 years and each warrant has the right to buy the new shares with the nominal value of Rp 125/share. The exercise price for the warrant is Rp 125/share
- Approval the Usage Plan of Right Issue Funds, including approving the Investment of Plantation II which is considered as Material Transaction according to Capital Market Supervisory regulation No.IX.E.@
- Approval to revise the Company’s Authorized Capital in relation to The Right Issue.
- Gave the authority to the Board of Directors and Commissioners to execute all the approval, including but not limited to determine the amount of in Company’s Issued and Paid Up Capital after exercise of The Right Issue form the shareholders and after the exercise of the Warrant Serial I, to make all deeds, letters and needed documents, to present on the meeting with the authority, including public notary, to submit application letter to the authority in order to get an approval or to report to the authority and to register in the Company Registers in relevant to the current regulation.