Every Indonesian company is required to hold an annual general meeting (AGM) at certain times. Shareholders and directors are to attend an AGM. Financial statements of the company as well as other issues are discusses during an AGM.
Commissioners and directors are some of the most important members of any company in Indonesia. Without their contributions, the company could not reasonably be expected to succeed. Therefore, it is imperative that only the most deserving are selected for these positions.
There are legal obligations which must be followed by every company in Indonesia. Indonesia's strict corporate laws dictate what each company in the country is required to do. These legal obligations carry grave consequences for errant companies who fail to adhere to them.
As stated in Indonesian Company Law, a PT PMA must have at least a minimum of 2 shareholders at all times. The shareholders can be individuals and/or legal entities of Indonesia or foreign countries.