IMP BOARD OF DIRECTORS (BoD) and BOARD OF COMMISSIONERS (BoC)

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Under Indonesian corporate law, the BoD has the responsibility to manage the company, while the BoC is responsible to ensure the BoD manages the company to the benefit of all the shareholders.  While the BoD controls operational decisions, spending, and largely makes corporate decisions, the BoC has approval rights over the acceptance of any loan or the sale of any assets in excess of certain values, requiring that the BoD seek approval before proceeding.