Top BUMD Award 2021

Slick Performance of Young BUMDs from Maluku


Doc. TopBusiness Magazine ~ Maluku Energi Abadi received the TOP BUMD 2021 award. The award was received directly by the Director of Maluku Energi Abadi, Musalam Latuconsina

Still young, Maluku Energi Abadi has recorded a number of achievements. Among other things, actively collaborating with other institutions in business practices, and starting the implementation of GCG.

Top Business Magazine gave an award to PT. Maluku Energi Abadi (Perseroda) or MEA with the achievement of TOP BUMD Awards 2021 3 Stars and TOP CEO BUMD 2021 to MEA Director, Mussalam Latuconsina. After receiving an appreciation at the top event of the 2021 TOP BUMD Awards, which took place in Jakarta, Friday (10/09/2021), Mussalam expressed his gratitude.

“Although it has not been even 1 year, MEA has won a national award. This is thanks to the direction of Mr. Industrialization of Maluku, Governor Murad Ismail, who is determined to bring Maluku out of the poverty zone through the development of natural resource-based industries throughout Maluku,” he said.

Previously, during the judging process, Mussalam Latuconsina, stated that his party had performance and achievements.

“Performance and achievements that are considered influential both internally by BUMD, and which can be learned by other BUMDs are the collaboration between PT. Maluku Energi Abadi, with two state institutions at the Maluku Province level, namely the High Prosecutor’s Office and the Maluku Representative BPKP,” said Musalam in front of the jury team, which took place online via the online Zoom meeting application.

The synergy is carried out by BUMD which is engaged in the oil and gas and mineral industry, as well as this energy in the context of business development, so that it does not go out of the applicable corridor. Apart from being a guide in making decisions and implementing the business wheel.

Musalam said, “cooperation with the Maluku High Prosecutor’s Office is focused on the civil and state administration fields. “I feel very helpful in providing advice on the legal side of corporate actions that will be taken by BUMD,” he said.

The Company in carrying out work programs and corporate actions wants to comply with applicable regulations, in this regard, the principles of transparency, accountability and legality as well as independence are needed. The Company cooperates with related parties who can provide direction in implementing legal aspects. So it can be avoided things that lead to misunderstanding of business management in a business entity in the oil and gas and energy and mining industries.

Moreover, as a company that has not yet reached the age of one year, various efforts are needed to understand the legal aspects, especially in terms of good corporate governance, aka Good Corporate Governance (GCG).

As a regional company in Maluku Province, PT. Maluku Energi Abadi wants all business activities to be carried out in an orderly manner, supported by the application of legal regulations and supported by professional, independent and sustainable human resources (Promal).

With the support of human resources with Promal as the company’s value, it is hoped that they will be able to complete the transfer of a 10 percent participating interest in 3 oil and gas blocks, namely Bula, Seram Non Bula and Masela, which are the company’s main services for Maluku.

According to Musalam, the company also cooperates with the Financial and Development Supervisory Agency (BPKP) in an effort to uphold GCG values.

“Similarly, cooperation with BPKP Maluku Province Representative greatly helps BUMD in the effort to implement GCG and the accountability process for the use of company funds, because the scope of management is still related to regulations in the field of regional financial management,” he said.

He then explained about the company’s relationship with BPKP Maluku Province Representative which is described by the GCG score.

“This is a picture of our assessment of BUMD, Maluku Representative BPKP regularly assesses efforts to implement and manage good governance or GCG within PT. Maluku Energi Abadi, with the main target of achieving a maximum GCG score. As a result, after the establishment of our BUMD for 6 months, the GCG score reached 42.5 percent with the category of GCG implementation being of sufficient value,” said Musalam.

Mussalam emphasized, the commitment to GCG management is something that must be followed up, so as to create the best operational and financial performance.

“The commitment to strengthening the implementation of GCG has been stated in the cooperation of PT. Maluku Energi Abadi with the Maluku Representative BPKP, which is a derivative agreement from the Maluku Provincial Government with BPKP from the Maluku Representative,” he said.

The Company obtained a GCG score based on the BPKP GCG assessment application with the category of GCG implementation: Enough. The BUMD which was established in November 2020, or 6 months after its establishment, received a corporate GCG score of 42.5 percent. As for what is measured in GCG, there are several aspects, such as commitment, policy, participation, and disclosure.

The Company is optimistic that the implementation of good corporate governance will generate enthusiasm to increase business potential in the future. Because it is able to control the business based on business norms and ethics.

It was said by Musalam, PT. Maluku Energi Abadi was born on the basis of a collective spirit based on PP No. 54/2017 regarding BUMD, where the structural obstacles faced by BUMD will be able to be avoided through the implementation of good corporate governance.

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