OJK Moves to Better Regulate Stock Splits and Reverse Stock Splits by Public Companies

26 Sep 2022 A. Introduction A stock split (“SS”) is where a company subdivides its shares by splitting 1 share into 2 or more shares based on an agreed ratio. This results in an increase of the number of the company’s shares and a reduction in the nominal value of each share, whilst maintaining the total value of each member’s shareholding. By way of illustration,…

Long-Awaited Personal Data Protection Law Aims to Take Data Privacy to Next Level

23 Sep 2022 A. Introduction After several years of deliberation and amid a long running epidemic of Personal Data breaches, the Indonesian Parliament finally passed the long-awaited Personal Data Protection Bill on 20 September 2022. The Bill has now been sent to the President for signing, after which it will be promulgated as law by publication in the State Gazette. As these steps are normally…

ABNR Ranked in Tier 1 for M&A by Singapore’s Asian Legal Business (ALB)

22 Sep 2022 We are very pleased to announce that ABNR is once again ranked as a Tier 1 Firm for M&A by Asian Legal Business (ALB) in the 2022 iteration of their annual Asia M&A Rankings. Congrats to all our partners and lawyers, and a big thank you to all of our clients and friends for continuing to place their trust in us. With 20 partners, two foreign counsel and some 85 other fee earners,…

Moratorium on Private Port Licenses Could Leave Miners High and Dry

16 Sep 2022 1. Introduction Under Indonesian law, private entities can apply for a license to construct, operate and manage a dedicated or “special” sea terminal (“Special Terminal”)[1] for their own cargo loading/unloading and sea transportation operations (“Special Terminal License”).[2] This license, which enables a company that has a main…

New Bappebti Regulation Takes Aim at Rogue Robot Trading

13 Sep 2022 Introduction Earlier this year, the Commodity Futures Trading Supervisory Authority (“Bappebti”) blocked a number of both Indonesia- and overseas-based robot-trading platforms offering automated commodity trading services (in foreign exchange, cryptocurrency or gold) to Indonesian customers. After Bappebti shut down the platforms due to their being unlicensed, many customers…

Indonesian Regulator Publishes Updated Whitelist of Officially Approved Crypto Assets

06 Sep 2022 1. Introduction Following the issuance in 2020 of their first ever list of crypto assets that are officially approved for trading on the local crypto-assets market (“Whitelist”),[1] the Commodity Futures Trading Supervisory Authority (“Bappebti”) has now issued a much-anticipated update of the Whitelist, which expands the number of officially approved crypto assets…