Sarinah Establishes Joint Venture with Switzerland’s Dufry and Mexico’s Omega Group

30 Jun 2022 ABNR would like to congratulate state-owned retailer PT Sarinah (Persero) on the signing on 29 June 2022 of their landmark joint venture agreement with widely diversified Mexico-based conglomerate Grupo Industrial Omega SA DE CV and Switzerland-based Dufry AG, a leading travel retailer which operates duty-free and duty-paid shops and convenience stores in airports, cruise lines, seaports, railway…

Flag-carrier Garuda Indonesia’s USD 9.8-billion restructuring gets all clear for takeoff

28 Jun 2022 ABNR would like to congratulate all involved in the recently agreed USD 9.8-billion debt restructuring for the country’s national flag carrier Garuda Indonesia, the largest ever aviation-sector restructuring (PKPU) in Indonesia. The ABNR team, which was headed by partner Mr. Emir Nurmansyah and included partner Mr. Kevin Sidharta, foreign counsel Mr. Theodoor Bakker, senior associate…

Six ABNR Lawyers Named on ABLJ's 2022 List of Indonesia's Top 50 up-and-coming Future Legal Leaders

28 Jun 2022 We are delighted to announce that six ABNR lawyers have been named in the 2022 iteration of “Indonesia’s top 50 up-and-coming future legal leaders,” which was published recently by prestigious Hong Kong-based legal publication Asia Business Law Journal (ABLJ). This year’s list, which was prepared based on the collective views of in-house counsel and Indonesia-focused…

Bank Indonesia Moves to Boost Rupiah Use in International Transactions

21 Jun 2022 With the Rupiah coming under some pressure again vis-à-vis the United States Dollar, the central bank, Bank Indonesia (“BI”), has issued a new regulation to discourage the use of foreign currencies and promote the use of Rupiah in international trade. The new regulation, PBI No. 24/6/2022 on the Use of Rupiah in International Activities (“PBI 24”),[1] entered…

Two senior ABNR litigators admitted to BANI Panel of Arbitrators

03 Jun 2022 We are pleased to report that two senior ABNR litigators and the co-heads of our Dispute Resolution Department, Mr. Sahat A. M. Siahaan and Ms. Ulyarta Naibaho, have been admitted to the Indonesian National Board of Arbitration (BANI)’s Panel of Arbitrators. Between them, Sahat and Uly’s experience and expertise extend across all practice areas and industry sectors,…

Eight ABNR Lawyers Named on Asia Business Law Journal’s A-List of Indonesia’s Top-100 Lawyers

25 May 2022 A total of eight ABNR lawyers are recognized in Asia Business Law Journal (ABLJ)’s recently released 2022 iteration of their “A-List of Indonesia’s Top-100 Lawyers” (https://law.asia/indonesia-top-lawyers-2022/?utm_source=Indonesiaalist&utm_medium=edim&utm_campaign=ABLJAwards ) The ABNR lawyers on this year’s list are: Mr. Agus Ahadi Deradjat…

New Apostille Regulation Set to Simplify Legalization of Indonesian Public Documents

28 Apr 2022 As a follow-up to Presidential Regulation No. 2 of 2021 (“PR 2/2021”), which ratifies the Convention to Abolish the Requirement for Legalization of Foreign Public Documents (“Convention”), the government issued an implementing regulation in the form of Ministry of Law and Human Rights (“MOLHR”) Regulation No. 6 of 2022 on Apostille Legalization Services for…

Indonesia’s Commodities & Futures Regulator Publishes Updated List of Approved Overseas Investments

31 Mar 2022 Indonesia’s Commodity Futures Trading Regulatory Agency (“Bappebti”) has issued the latest iteration of its list of approved futures and other derivative contracts traded on overseas futures exchanges. The list, which is updated annually, is of considerable interest to Indonesian investors as it allows them to directly deal in such instruments through a Bappebti-licensed Indonesian…

New Decree Should Help Resolve Long-standing Licensing Problems in Mining Sector

22 Mar 2022 On 21 January 2022, the Minister of Energy and Mineral Resources (“MEMR”) issued Decree No. 15.HK/HK.02/MEM.B/2022 on Application and Issuance Procedures for Mining Business Licenses (“Decree 15/2022”).[1] This occurred only a few months after the Ministry of Investment had revoked a number of mining business licenses (“IUPs”). As reported by the media, the…

Risk-Based Licensing Framework Introduced for Indonesia’s Nuclear Sector

09 Mar 2022 On 10 January 2022, the Nuclear Energy Regulatory Agency (“Bapeten”) issued Regulation No. 1 of 2022 on Business Licensing in the Nuclear Sector (“Reg. 1/2022”).[1] It creates a new framework for accommodating the nuclear sector within the risk-based licensing system introduced by Government Regulation No. 5 of 2021 (“GR 5/2021”).[2] It revokes the previous…

Gregory Churchill (1947-2022)

22 Feb 2022 It was with grief and sorrow that we learned of the untimely passing of our esteemed colleague and retired ABNR foreign counsel, Gregory Churchill, who passed away early on Saturday, February 19, aged 74. Greg graduated magna cum laude from Cornell University in 1969, before going on to earn his law degree from Harvard Law School in 1975. Before Harvard, he joined the Peace Corps…

OJK Provides Greater Clarity on Discharge of its Capital-Market Supervisory Functions

11 Feb 2022 The Financial Services Authority (“OJK”) has faced criticism by stakeholders and the public in the wake of a spate of recent financial scandals involving capital-market participants and products. In response, the OJK has issued regulation No. 23/POJK.04/2021 on Further Measures for Capital-market Supervision (“Reg. 23”),[1] which entered into effect on 3 December 2021.…

ABNR Shines with 11 Tier-1 Rankings from Legal 500 Asia Pacific

18 Jan 2022 ABNR’s position as a top-tier Indonesia commercial law firm has been confirmed once again by the 2022 rankings published by leading international law firm directory The Legal 500 Asia Pacific on Wednesday, Jan 12. ABNR is now ranked as a Tier-1 Firm in a total of 11 practice areas: Competition, Aviation, Banking & Finance, Capital Markets, Corporate & M&A, TMT,…

IDX Recognizes Dual-Class Shares in Move to Boost Tech Listings

07 Jan 2022 Indonesia has emerged as a fertile breeding ground for tech startups over the last decade or more. Many of these have grown exponentially, with some now having valuations in excess of USD 1 billion (unicorns) and even USD 10 billion (decacorns). However, only a small number have listed so far on the Indonesia Stock Exchange (IDX). This is unfortunate as the listing of a couple of decacorns…