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Investor Relations


Risk Management
RISK MANAGEMENT IN BUMI
BUMI engages in a number of activities that contains risk, including exploration, extraction, shipping and operating in Indonesia and in foreign countries, as well as energy pricing, currency, interest rate and demand risk. To meet these and other risks, BUMI has two dedicated committee, Hedge Risk Management Committee and the Risk Management Committee, as well as having instituted an Enterprise Risk Management System as of 2008 and now has being updated to be inline with ISO 31000 Risk Management Principle & Guidelines. Ultimate responsibility for risk management rests with the Board of Directors, and in pursuit of more robust risk mitigation, strengthening of risk management is on-going.

 

Below are the poster and banners of ERM socialization which are visible in BUMI and business units’ offices.

 

Risk Management

 

BUSINESS CONTINUITY MANAGEMENT SYSTEMS (BCMS) PROJECT
To implement enterprise wide Risk Management systems and best practice, BUMI will implement BCMS. Started in 2011, the objective to implement BCMS is to minimize the risk and to ensure the continuation of operations in the event of disruption, whether due to a major disaster or a minor accident.

 

During 2012, this project started with the Gap Analysis and Documentation Review Phase. The activities in this phase include the development of project schedule, deliverables and key milestones; reviewed on existing documents related to risk management, disaster response plan and crisis management; interviewed key personnel; developed gap analysis report, completed with areas for improvements and recommendations and finalized with management presentation for gap analysis results and findings.

 

The next phase of this project is still ongoing and still in process of appointing eligible consultants to fully implement BCMS in BUMI.
 
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