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News

Business Media Selected for You: Week 8-14 Jan 2018

15 January 2018

The Government has reiterated that is open to private investment for the second phase of the LRT project in Greater Jakarta. While the first phase of the project valued at IDR 29.9 trillion (USD 2.25 billion) was spearheaded and handled mostly by state-owned enterprises, the Government is to open the project to domestic and foreign investors. AP II is keen to expand its airports and enlarge its non-aeronautics business segment by developing existing airports and is set to manage 7 more airports (it currently manages 13), including (i) Maimun Saleh in Aceh; (ii) Wirasaba in Central Java; (iii) Fatmawati Soekarno in Bengkulu; (iv) H.A.S. Hanandjoeddin in Bangka Belitung; and (v) BIJB in West Java.

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Business Media Selected for You: Week 1-7 Jan 2018

15 January 2018

Indonesia's port and shipping players are bracing for a take-off in their respective business sectors banking on increased international trade activity as well as domestic economic activity.  The World Bank is to provide a soft loan of up to USD 600 million with a 1.5% interest rate to finance geothermal exploration in Indonesia. This comes amid difficulties faced by private renewable developers in Indonesia in financial support from domestic banks, which tend to provide short-term loans with relatively high interest rates of 12%. 

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Data Localization: Coming to you soon in Indonesia

08 November 2017

As globalization and growth in the digital economy continues, a trend has emerged worldwide of some national governments seeking to assert control and stop the flow of data across borders. These laws intended to keep personal data in-country and subject to local regulation. Indonesia is now one of the countries where data will be required to be stored locally by 1 December 2018. An article on this topic was recently published in the November issue of Asian Legal Business magazine.

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Sea of Change: Constitutional Court decision changes Indonesian Competition Law amidst the ongoing process of law amendments

01 November 2017

On 20 September 2017, the Constitutional Court issued Decision No. 85/PUU-XIV/2016 which amended Law No. 5 of 1999 on the Prohibition of Monopolistic and Unfair Business Practices (the 'Indonesian Competition Law').  The main changes introduced by the Constitutional Court's decision related to the scope of the 'other parties' referred to in the provisions on conspiracy and the powers of the KPPU (Komisi Pengawas Persaingan Usaha, the Indonesian Competition Authority).

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PE in Indonesia - A Vibrant Market

19 October 2017

Indonesia is gaining popularity among both regional and international private equity funds. Demographics and economic forces increasingly portray Indonesia as a 'must-be-in' market.

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Changes in Insurance Regulation: China / Hong Kong / Singapore / Indonesia / Vietnam

27 September 2017

From the attached you can find information regarding our Asia insurance regulatory tracker for the second quarter of 2017. It includes updates on regulations for credit insurance in China, detailed rules for spreading life insurance commissions in Singapore, new approval requirements for insurers' investments in the financial services industry in Indonesia and a recent circular on various aspects of insurance business in Vietnam.

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Requirements for Changes in Shareholding and Boards in Oil & Gas, Mining, Power and Geothermal Sectors - Regulatory Update

15 August 2017

Ministry of Energy and Mineral Resources ("MEMR") issued Regulation Number 48 of 2017 on Supervision of Operations of Business Activities in the Energy and Mineral Resources Sector ("Reg 48/2017") which came into effect on 3 August 2017. Reg 48/2017 was issued following feedback on Ministry of Energy and Mineral Resources Regulation No. 42/2017 ("Reg 42/2017"). Reg 42/2017 required prior approval from MEMR for most transfers of shares and changes to the board of directors and commissioners in the energy and mineral resources sector.

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Approvals for Changes in Shareholding and Boards in Oil & Gas, Mining, Power and Geothermal Sectors - Regulatory Update

03 August 2017

Ministry of Energy and Mineral Resources ("MEMR") Regulation Number 42 of 2017 on Supervision of Operations of Business Activities in the Energy and Mineral Resources Sector ("Reg 42/2017") came into effect on 17 July 2017. The regulation applies to licensed entities operating in the upstream and downstream oil and gas, mining, power, and geothermal sectors and has aims of improving MEMR oversight over the sector. In respect of the mining sector, Reg 42/2017 replaces and partially revokes MEMR Regulation Number 34 of 2017 in respect of provisions relating to the transfer of shares and the changes to the Board of Directors and Board of Commissioners.

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Investigating in Indonesia. The Indonesian Competition Authority's search for more teeth

21 June 2017

Article published on Competition Law Insight, 11 April 2017, p. 15. In February 2017, the Indonesian competition authority (the KPPU) finally decided its controversial cartel case concerning two Indonesian subsidiaries of Japanese motorcycle manufacturers. Both companies were found guilty of price-fixing in the market of 110-125cc automatic-transmission scooter products.

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Guidelines for the Formulation of Mandatory Wage Structures and Scales for Businesses

14 June 2017

The Ministry of Manpower ("MOM") issued Regulation No. 1 of 2017 ("Reg 1/2017") dated 21 March 2017 to implement wage structures and scales introduced in Government Regulation No. 78 of 2015 ("GR 78/2015"). The Reg 1/2017 revokes Ministry of Manpower and Transmigration Decision KEP.49/MEN/IV/2004 regarding the same ("Previous Regulation").

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