News

ABNR Honored in Korea for Work on USD 711-million EV Battery Plant Financing Deal

27 Nov 2023 We are pleased to share that an ABNR deal was recently named “Project Finance Deal of the Year” at the prestigious 2023 Asian Legal Business Korea Law Awards, which were presented at the Conrad Seoul hotel on Nov. 10. The winning deal saw ABNR advise Australia & New Zealand Banking Group Limited (ANZ), as syndication lead lender, on the USD 711-million financing provided to the Hyundai…

Indonesian Introduces New ‘Golden Visa’ Scheme But Faces Tight Competition from Regional Rivals

23 Nov 2023 The Indonesian government has recently introduced a new investment-based “golden visa” scheme. The nuts and bolts of the scheme are set out in Government Regulation No. 40 of 2023 on Immigration (“GR 40/2023”, effective 4 August 2023)[1] and Minister of Law and Human Rights Regulation No. 22 of 2023 on Visas and Residence Permits (“MOLHR Reg. 22/2023”, effective…

New Indonesian Regulation Attempts to Control Growth of ‘Social Commerce’

14 Nov 2023 The e-commerce landscape in Indonesia has seen tremendous growth and transformation in recent years, including the emergence of what is termed “social commerce,” that is, business models that combine features of both social media and e-commerce. The growth of social commerce significantly affected traditional market traders and other existing business models in Indonesia, leading to loud…

OJK Aims to Boost Indonesia’s ‘Green’ Credentials via Newly Opened Carbon Exchange

10 Nov 2023 A. What exactly is carbon trading? With climate change becoming an increasingly urgent issue, 196 countries adopted the Paris Agreement at the UN Climate Change Conference (COP21) on 12 December 2015, and it came into force on 4 November 2016. It is critical that countries that signed up to the Paris Agreement now fulfill their obligations to contribute to the reduction of greenhouse gas emissions…

ABNR Receives Three Top Accolades at 2023 ‘ALB Indonesia Law Awards’

06 Nov 2023 ABNR’s position as one of Indonesia’s top law firms was confirmed once again at the tenth iteration of the Asian Legal Business (ALB) Indonesia Law Awards, which were presented on Wednesday, Oct 25, during a glittering ceremony at the Jakarta Pullman hotel in Central Jakarta. This year saw the firm come home with three prestigious awards: Woman Lawyer of the Year (Ms. Rita Taufik) Medical…

Ms. Rita Taufik being named “Woman Lawyer of the Year” at the Asian Legal Business (ALB) Indonesia Law Awards 2023

30 Oct 2023 Congratulations to ABNR partner Ms. Rita Taufik on being named “Woman Lawyer of the Year” at the Asian Legal Business (ALB) Indonesia Law Awards 2023, which were presented on Wednesday, 25 October, during a glittering ceremony at the Jakarta Pullman hotel in Central Jakarta. After some 32 years of legal practice at ABNR, this latest award for Rita comes on the back of a long list of accolades.…

New Indonesian Guidelines on Workplace Sexual Harassment: Improvements Still Needed

11 Oct 2023 Introduction Following the enactment of the Sexual Harassment Law[1] in 2022, on 29 May 2023 the Minister of Manpower (“MoM”) issued MoM Decree No. 88 of 2023 on Guidelines for the Prevention of and Response to Sexual Harassment in the Workplace (“Guidelines”),[2]which provides technical guidance for employers and other stakeholders on how best to prevent and respond…

Indonesia’s FSA Clarifies Powers in Market Emergencies, Reinstates Rule that Share Buybacks Require Shareholder Consent

29 Sep 2023 With economic storm clouds once again on the horizon, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan / "OJK") has moved to clarify and broaden the circumstances in which it can take emergency action to dampen down significant turbulence in the capital markets. The new rules are set out in Regulation No. 13/2023 on Policies for Maintaining the Performance and Stability…

New Legislation to Kick Start Much Needed Health Sector Reform in Indonesia

12 Sep 2023 With Indonesians spending an eye-watering Rp 100 trillion (USD 6.6 billion) on overseas healthcare every year, the government and national parliament have finally moved to institute a number of much-needed reforms to the domestic health sector, notwithstanding entrenched opposition from the country’s doctors. The reforms are set out in a new omnibus health law (Law No. 17 of 2023) that entered…

ABNR Acts for PT Bank IBK Indonesia on USD 66-million Rights Issue

06 Sep 2023 ABNR advised PT Bank IBK Indonesia Tbk, the Indonesian majority owned subsidiary of South Korea’s state-owned Industrial Bank of Korea, on their recent rights issue that raised approximately IDR 1 trillion (USD 66 million), after deduction of fees and costs. The transaction was closed on 28 July 2023. The rights issue was conducted in order to give effect to Industrial Bank of…

If at First You Don’t Succeed! Indonesian Gov’t Makes Renewed Push to Compel Repatriation of Export Dollars in Commodities Sector

30 Aug 2023 A. Introduction With the rupiah coming under sustained pressure in recent months, the government has launched a renewed push to compel the repatriation of commodity export earnings to Indonesia by issuing Government Regulation No. 36 of 2023 on Export Proceeds from the Exploitation, Management and/or Processing of Natural Resources (“GR 36”),[1] which requires exporters in the mining,…

Students gain exciting insight into the legal world at ABNR Open Day

09 Aug 2023 We are thrilled to share the success of our ABNR Open Day, held on Saturday, August 5, 2023. The event welcomed a diverse group of 100 aspiring law students from various universities across Indonesia, offering them a firsthand glimpse into the world of a modern commercial law firm. Our team was delighted to extend a warm welcome to the students, fostering a unique opportunity for them to interact…