Jakarta. Industrial township developer Lippo Cikarang has received the IICD Corporate Governance Appreciation 2017 award in the Top 50-Mid-Cap listed companies category from the Financial Services Authority.
The award is given to medium-sized companies listed on the Indonesia Stock Exchange (IDX) to encourage them to comply with the financial services regulator's regulations.
"We receive this award enthusiastically," Lippo Cikarang President Director Toto Bartholomeus said in a statement last week, pointing out that the award is proof that Lippo Cikarang has implemented good corporate governance in line with the regulator's — locally called OJK — guidance.
Every winner of the award is seen to have complied with the Asean Corporate Governance Scorecard (ACGS) kept by the Indonesian Institute for Corporate Directorship (IICD), a domestic ranking body appointed by the OJK to review corporate governance in listed companies.
The IICD award is the latest in a long list of awards that Lippo Cikarang has received this year that also includes the Most Innovative Business Award 2017 and the 100 Fastest Growing Company Award 2017.
The company has also received the Corporate Social Responsibility award from West Java's provincial administration for its contribution to development in the province.
Lippo Cikarang, a subsidiary of property developer Lippo Karawaci, is affiliated to the Jakarta Globe via the Lippo Group.