Although the COVID-19 pandemic ensured Indonesia’s GDP is expected to contract by 1 percent in 2020, Southeast Asia’s largest economy is set to bounce back strongly this year. Lawyers in the country talk about how the pandemic impacted their work, and also some of the important lessons they have taken away from this period.
Hogan Lovells DNFP, the Jakarta-based associate firm of Hogan Lovells is set to welcome corporate and finance specialist Mochamad Kasmali as a partner from Soemadipradja
Like the SEC’s Rules of Practice and Rules on Fair Fund and Disgorgement Plans in the US, Indonesia now has a rule for disgorgement and disgorgement funds to protect and award damages to capital market investors losses due to what so-called unlawful profits.
Hiswara Bunjamin & Tandjung, Herbert Smith Freehills’ Indonesian associate firm, has advised Indonesian power company PT Dian Swastatika Sentosa (DSS) on the $394 million sale of a 75 percent stake in three thermal power plants to China Datan, a Chinese state-owned energy conglomerate.
Fintech in Indonesia is rapidly growing, buoyed by a young population, quick Internet adoption, and innovative new businesses. However, lawyers say that policies and regulations need to keep up with this growth, so as to ensure business innovation continues and customers are not left out in the cold.
Putu Dewika Angganingrum, the head of legal and compliance at Indonesian investment bank PT Danareksa, talks how external counsel have to provide true value beyond just Google searches, the need to meet business goals while sticking to goal corporate governance principles, the need for women to develop thick skin to survive in the industry.
Gibson Dunn & Crutcher has advised U.S. consumer products company Kimberly-Clark Corporation on its $1.2 billion acquisition of personal care maker Softex Indonesia, which was represented by Singapore’s Allen & Gledhill and Soemadipradja & Taher.
The 7th annual ALB Indonesia Law Awards, a virtual event held on Oct. 8, celebrated the standout lawyers, firms, in-house teams and legal work in the country.
Earlier this year, Indonesian President Joko Widodo's government submitted a draft bill to the country's parliament. The omnibus law, as it is widely known, is a comprehensive bill that would regulate many provisions in various industry sectors into one law. Lawyers say that when passed, it will strengthen the economy by increasing competitiveness, creating jobs and making it to easier to do business in Indonesia.
Indonesia Enacts Limited Concession Scheme to Recycle Existing Infrastructure Assets [Brought to you by AYMP]BY Mutiara Rengganis, Ayu Novianti |
To improve connectivity between its vast regions and support economic growth, Indonesia requires more infrastructure financing than ever. As an alternative to the existing Public-Private Partnership (PPP) scheme, the Government of Indonesia has recently introduced a new form of concession, i.e. Limited Concession Scheme (“LCS”) as stipulated under Presidential Regulation No. 32/2020 on Financing of Infrastructure through Limited Right of Utilization (“PR 32/2020”).