AEI and OJK Hold Panel Discussion: Improving Relationships with Investors on Refreshing PJOK Regarding Electronic GMS

Surabaya, 21 November 2024 – The Financial Services Authority (OJK) and the Indonesian Issuers Association (AEI) together with capital market industry players continue to encourage modernization of the implementation of General Shareholder Meetings (GMS) through the application of information technology, in line with OJK Regulation Number 16 of 2020 concerning Electronic Implementation of Public Company GMS .

In a panel discussion held today, in Surabaya, experts discussed the benefits and challenges of implementing electronic GMS (e-GMS). e-GMS system, including features e-Proxy And e-Voting, allowing shareholders to participate efficiently without physical presence. This is in line with the vision to increase shareholder participation and transparency in the decision-making process of public companies.

Main Features of e-GMS

1. e-Proxy: Allows shareholders to electronically grant power of attorney to representatives to attend and vote at the GMS.
2. e-Voting: Present a transparent and accurate voting mechanism with guaranteed confidentiality.
3. Interaction Recording: All GMS activities are recorded to ensure accountability.
4. Live Interaction: Allows shareholders to ask questions or provide input directly through the electronic system.

According to the Head of the OJK Capital Market Supervision Division, this system is designed to make it easier for shareholders around the world to actively participate in the GMS, especially in the digital era which demands high efficiency. "We want to ensure that every shareholder, both large and small, has equal access to express opinions and make strategic decisions," he explained.

Benefits of Implementing e-GMS

• Cost and Time Efficiency: Reduces the need for physical meetings.
• Increased Participation: Shareholders who were previously constrained by location can now participate.
• Better Transparency: The electronic system records all processes accurately and can be audited.

However, implementing e-GMS also has challenges, including data security and compliance with regulations. In the discussion, e-GMS system providers such as KSEI explained their efforts in meeting information security standards to protect shareholder data.

Sanctions for Nonconformity
OJK also emphasizes the importance of compliance with regulations. Delays in announcing, calling for, or holding a GMS can be subject to sanctions, including fines and restrictions on the operations of public companies.

This event ended with an invitation to all public companies to immediately adopt the e-GMS system to support good corporate governance and answer the needs of the increasingly modern capital market.