Jakarta, May 31, 2023 – Asia Pulp & Paper (APP) Sinar Mas business unit, PT Indah Kiat Pulp & Paper Tbk (IKPP) was awarded the Indonesia Business Award (BIA) 2023 in the Forestry & Paper category. The BIA, which has been running for 21 years, is an annual appreciation event for leading corporations, particularly for those whose shares are listed the Indonesia Stock Exchange.
"The New Era of Growth" is the theme of this year's event, where the BIA recognizes companies that have maintained positive-growth over the past three years, actively sought opportunities to maximize their performance, and are ready to face the new era post the Covid-19 pandemic.
"We welcome this award, as it is a recognition and appreciation from Bisnis Indonesia, which reflects our efforts and commitment to the nation-building based on economic improvement. However, we remain committed to prioritizing sustainable business practices in line with our Sustainability Roadmap Vision 2030 (SRV 2030)," said Vice President Director PT IKPP, Suhendra Wiriadinata, separately.
Suhendra stated that this award also proves that responsible businesses can grow and thrive amidst challenges and changing times.
President Commissioner of Bisnis Indonesia Group, Hariyadi Sukamdani, explained in his speech that the post-Covid-19 economic recovery driven by consumption and the current lifting of PPKM (Community Activity Restrictions) demonstrates the strong optimism of the society and a growth rate that surpasses expectations.
"The performance of goods and services production growth in the first quarter of 2023, which reached 5.03 percent, higher than the previous economic consensus of 4.8 percent, is one of the indicators of the recovery of the domestic economy," said Hariyadi.
Chairman of the Board of Commissioners of the OJK (Financial Services Authority), Mahendra Siregar, stated virtually in his speech that the purpose of this event is to give recognition to companies that have achieved good performance in this new era.
"I congratulate all the companies that have received this award. We hope that we all continue to improve our performance by enhancing governance, building cooperation, collaboration, and synergy for the progress of the nation and the country," said Mahendra.
In the evaluation process, the recipients of the BIA 2023 award passed the initial screening based on criteria such as total assets, total equity, and positive net income. Scores were given based on growth ratios and performance ratios for the assessment periods of Quarter IV/2022, Quarter IV/2021, and Quarter IV/2020. The jury also evaluated various other aspects such as sustainability considerations, risk management, and corporate governance. PT IKPP excelled in growth ratios, performance ratios, and qualitative assessment by the jury.
The BIA 2023 Jury Board consists of Prof. Wimboh Santoso, SE., M.Sc. Ph.D., Chairman of the OJK Board of Commissioners 2017-2022; Prof. Mardiasmo, M.B.A., Ph.D., Deputy Minister of Finance 2014-2019; Lulu Terianto, President Director of PT Jurnalindo Aksara Grafika; Rivan Kurniawan, Director of PT Indovesta Utama Mandiri; and Doni Firdaus, Director of PT Bahana TCW Investment Management.
