Cited from Kontan.co.id (February 13, 2025), PT Bank Central Asia Tbk (BBCA) has announced the schedule for its Annual General Meeting of Shareholders (RUPS Tahunan), set to take place on March 13, 2025. According to information disclosed on the Indonesia Stock Exchange (BEI) on February 12, 2025, one of the key agenda items is the restructuring of the company’s Board of Commissioners and Board of Directors.
This case exemplifies how RUPS serves as a vital platform for making strategic corporate decisions, ensuring accountability and transparency. Changes in board composition, corporate policies, and governance structures are often determined through RUPS, reflecting its role in shaping a company’s leadership and long-term direction.
The General Meeting of Shareholders / GMS (Rapat Umum Pemegang Saham / RUPS) is a crucial corporate event that plays a vital role in ensuring transparency, accountability, and sound strategic decision-making.
It is a forum where shareholders engage with the company’s leadership to review and exercise their voting rights on key corporate matters, including:
Based on Law Number 40 Year 2007 concerning Limited Liability Company, there are 2 (two) prime time for conducting the meeting:
Failure to conduct RUPS Tahunan within specified timeframe can result in administrative sanctions under Financial Service Authority Regulation (Peraturan Otoritas Jasa Keuangan / POJK) Number 15/POJK.04/2020 concerning the Planning and Implementation of Public Company Shareholder Meetings.
Sanctions may include:
With technological advancements, many companies are shifting towards virtual formats, enabling shareholders to participate remotely via:
The implementation of virtual method is specifically regulated under the Financial Services Authority Regulation of the Republic of Indonesia Number 16/POJK.04/2020 concerning the Electronic Implementation of General Meetings of Shareholders for Public Companies.
This modern approach offers several benefits:
The Annual General Meeting of Shareholders (RUPS) is essential to corporate governance, ensuring shareholders’ participation in strategic decision-making. With expert guidance and professional support, companies can conduct RUPS efficiently, fostering transparency, accountability, and long-term business success.
Contact us today to ensure a seamless and compliant RUPS process for your company!
Discover Our General Meeting of Shareholders (RUPS) Service
With frequent updates to tax regulations, rates, and compliance mechanisms, foreign investors must stay well-informed to avoid costly mistakes. Putranto Alliance is here to guide you through Indonesia’s tax landscape, ensuring your business meets all obligations while maximizing profitability.
putranto@putranto-alliance.com
Jl. Denpasar Raya Blok C4/24
Kompleks Menteri, Kuningan
Jakarta Selatan 12950 Indonesia
+(62) 21-520-4989
Whatsapp
AI Chat
