United Tractors Entered the List of Top Issuers with the Largest Market Capitalization (BigCap PLCs) at the IICD CG Award 2023

The presentation was given to UT as the Top Issuer with the Largest Market Capitalization (BigCap PLCs) at the IICD CG Award 2023 event at the Financial Hall, Graha CIMB Niaga, South Jakarta.

Jakarta, September 18^th,2023 – PT United Tractors Tbk (UT), with the stock code UNTR, entered the list of Top Issuers with the Largest Market Capitalization (BigCap PLCs) at the 14th IICD Corporate Governance Conference (IICD CG) and Award 2023. This event was held by the Indonesian Institute of Corporate Directorship (IICD) located at the Financial Hall, Graha CIMB Niaga, South Jakarta, to appreciate issuers who have fundamental performance and sustainable business achievements. Apart from that, analysts and capital market experts assess that UT can make a positive contribution through implementing the principles of Good Governance.

The IICD Corporate Governance Conference and Award is an annual event to give appreciation to public companies with the best Good Corporate Governance (GCG) practices for issuers with the Largest Market Capitalization (BigCap) and issuers with Medium Market Capitalization (MidCap).

“UT would like to express its gratitude for the appreciation given to our company. This achievement further motivates us at UT to improve good governance at all stages of operational activities, to provide benefits to stakeholders and shareholders,” said UT Investor Relations Head Ari Setiyawan.

With the theme “Improving Quality Reporting to Encourage Stakeholders Engagement,” the assessment method used in the awarding is based on the ASEAN CG Scorecard. The assessment was carried out on 200 issuers listed on the Indonesia Stock Exchange (BEI) in detail, 100 issuers with the largest capitalization and 100 issuers with medium market capitalization, and supported by six assessors who are competent and experienced in the ASEAN CG Scorecard.

UT will continue to be committed to supporting the country’s growth by implementing good governance principles and sustainable business practices by improving internal systems, controls, and procedures to make effective decisions and compliance, identify long-term risks, potential impacts, and company mitigation efforts, and meet the needs of all stakeholders.

One of the highlights of this event was the presence of Prof. Dr. H. Boediono, B. Sc, M.Ec, – Vice President of the Republic of Indonesia for the 2009-2014 period. He conveyed the importance of implementing good governance principles so companies can transform and shared his experiences regarding corporate governance in Indonesia.

In addition, this event was also attended by key figures in Indonesia’s corporate and regulatory landscape, including Sigit Pramono – Chair of IICD, Mahendra Siregar – President Chair of the Board of Commissioners of the Financial Services Authority (OJK), who also presented a lecture on regulatory perspectives on governance. Corporate governance underscores the central role of regulatory bodies in shaping the corporate landscape.

Sigit Pramono, in his speech, said that apart from giving appreciation, this event was also an effort to motivate companies to realize long-term efforts in carrying out good governance transformation in Indonesia.

“For 20 years in the field of governance, we have assessed and concluded that we need a transformation process to improve governance in Indonesia. When compared with other ASEAN countries, we are still lagging behind Thailand, Malaysia, Singapore, and the Philippines. “It is the duty of all of us to continue to strive to improve good governance in corporations and the private sector,” said Sigit Pramono.

Through this appreciation, UT will continue to improve governance implementation in its business operation through better decision-making process, increase operational efficiency, optimize services, as well as strengthen corporate values and stakeholder trust.

United Tractors’ Overview

PT United Tractors Tbk (UT), known as Indonesia’s largest heavy equipment distributor, has been established since 1972. UT has grown and has five business pillars: Construction Machinery, Mining Contracting, Mining, Construction Industry, and Energy , as well as its contributions to achieving Sustainable Development targets (SDGs). UT consistently carries out activities to uphold sustainability.

ESG United Tractors

As a world-class heavy equipment, mining, and energy company with more than 50 years of experience in Indonesia, UT is committed to presenting a sustainable future for Indonesia through the effective application of ESG principles by paying attention to the environment, having a good impact on society, and upholding good corporate governance. good corporate governance at all levels of its business operations and optimizing its competencies, expertise, and strategic assets to bring added value to all stakeholders and the Indonesian people.