PT Indo Tambangraya Megah Tbk. (ITM) was among thirty Indonesian issues receiving awards at the CSA Awards 2022 which was organized by the CSA Institute and the Indonesian Securities Analysts Association (AAEI) held on 27 October 2022.
At the event themed Building an Adaptive Capital Market Industry in the Post-Pandemic Digital Era, ITM was named The Best of Non-Big Capitalization in the Energy Sector, confirming the Company’s position as one of the best energy companies listed on the Indonesian stock exchange.
The award of The Best of Non-Big Capitalization in the Energy Sector was received by Bapak Yulius Gozali, Director of Corporate Communications and Investor Relations of ITM, who represented the management of the Company at the event. “The award given by the CSA Institute and AAEI as a qualified institution and community is an acknowledgment from a credible party for the efforts, hard work, and commitment of the entire ITM family to give out the best. The Company's good performance and promising growth are the results of such efforts. I hope that this award will motivate the ITM family to maintain and even improve our performance,” said Pak Yulius.
Meanwhile, for the organizers, the CSA Awards 2022 event set a more competitive standard for determining award recipients. “The CSA Awards 2022 is the fourth series of a prestigious award by analysts since it was first held in 2017 and was postponed during the Covid-19 pandemic. This year's CSA AWARDS is prestigious because it is assessed by a team of judges who have the capacity, credibility, and are professional," said Haryajid Ramelan, Chairman of the CSA Awards Organizing Committee.
The CSA Awards 2022 assessor team combines a comprehensive perspective by combining senior academics including Prof. Roy Sembel, senior analysts, capital market experts, and members of the CSA Community. According to Prof. Roy Sembel who led the assessing team, the assessment was carried out through a long process, both quantitatively and qualitatively. "We have started the assessment process since July 2022, and one week before the award ceremony, finally all the jury teams can decide who is entitled to get the best score from 800 issuers," said Prof. Roy Sembel.
The 2022 CSA Awards nominations are based on five criteria: aspects of future profitability, openness to shareholders, good corporate governance (GCG), stock liquidity, risk management, and aspects of the environment, social, and governance.