Company

    Product research and development is one of the Company's main concerns, especially in supporting its efforts to compete in the market. The Company is fully aware that most of its products are affected much by the market trend, especially plastic houseware and non-stick aluminium cookware. Therefore, flexibility to market change is an important factor for surviving in the high competitive market. With continuous product research and development, the Company can swiftly adjust to change.

    history

    The Company has +/- 7 hectares, factory in Waru, Sidoarjo (Unit 1) and +/- 5.5 hectares factory in Trosobo, Sidoarjo (Unit 2); both in East Java, also +/- 4.4 hectares factory in Tangerang (Unit 3), Banten.

    As an issuer listed on the Indonesia Stock Exchange, the Company is currently a member of the Association of Indonesian Issuers (AEI) and regularly attends meetings and trainings held by the Association

    PT Langgeng Makmur Industri Tbk (“the Company”) was established under the Domestic Capital Investment Law No. 6 of 1968 as amended by Law No. 12 of 1970, based on the Notarial Deed No. 40 dated November 30, 1972 of Kho Boen Tian, S.H., which was amended by Notarial Deed No. 3 dated January 7, 1976 of the same notary concerning the change in the Company's name from PT Langgeng Jaya Plastic Industry Ltd., to PT Langgeng Makmur Plastic Industry Ltd. The deed of establishment and its changes were approved by the Ministry of Justice in its Decision Letter No. Y.A 5/39/11 dated January 24, 1976 and was published in the State Gazette No. 62 Supplement No. 706 dated August 4, 1987

    The Company prepares various strategic policies related to sustainability according to their needs and evaluates their effectiveness on a regular basis, both long term and short term. The prepared strategies including risk management and the results to be achieved in accordance with the conditions and business environment.

    Chronology
    In 1994, the Company undertook a public offering of its 18,000,000 shares with par value of Rp 1,000 per share through the stock exchanges in Indonesia at offering price of Rp3,000 per share. In May 1997, the Company distributed 35,400,000 bonus shares from its additional paid-in capital and changed the par value of shares from Rp1,000 to Rp500 per share (stock split). In October 1997, the Company distributed share dividends totaling 26,432,000 shares with a par value of Rp500 per share or a total of Rp13,216,000,000, which increased fully paid capital to 215,232,000 shares.

    The Company's Board of Commissioners consists of one President Commissioner and one Independent Commissioner, which is also act as the Chairman of the Company's Audit Committee.
    The determination of the number of members of the Board of Commissioners has taken into account the condition of the Company and effectiveness in making decisions Each member of the Board of Commissioners is selected according to the expertise, knowledge and experience required by their respective fields. The Board of Commissioners assesses performance through the realization and achievement of the Company against the targets setby considering external aspects that affect the Company's Industry.

    The Company's Directors consists of one President Director and three Directors, which collectively responsible for the Company's total activities.

    Determination of the number of members of the Board of Directors has taken into account the condition of the Company and its effectiveness in decision making. Each member of the Board of Directors is selected according to their expertise, knowledge, and experience required by each field. The Directors assesses performance through the realization and achievement of the Company against the targets set by taking into account external aspects affecting the Company's Industry

    As stipulated in the Company's Audit Committee Charter, the Audit Committee have to give their independent opinion to the Board of Commissioners, on reports or information given by the Directors to the Board of Commissioners, and to identify any issues need to be noticed by the Board of Commissioners.

    As a Compliance Agent, the Corporate Secretary has to continuously update any changes in capital market and its regulation, and be responsible for keeping the Company stays within the rules in all business activities.

    Monitoring the compliance and implementation of internal control systems. Assessing the efficiency and effectiveness of internal control systems and risk management that apply through the internal audit activity.