ABNR Advises Yamato on Acquisition of Indonesian Structural Steel Giant

10 Jun 2024 We would like to congratulate our clients Yamato Kogyo Co., Ltd., Siam Yamato Steel Co. Ltd., and PT Hanwa Indonesia (the Indonesian subsidiary of a Hanwa Co., Ltd. of Japan) on their successful acquisition of 95% of shares in PT Nusantara Baja Profil (now PT Garuda Yamato Steel), from PT Gunung Raja Paksi, Tbk. and PT Gunung Garuda. The deal, valued at over USD 400 million, marks a significant milestone…

ABNR Lawyers Stand Out in Annual ‘A List of Top 100 Lawyers’

27 May 2024 We are pleased to share that Asian Business Law Journal (ABLJ), a prestigious Hong Kong-based legal publication, has once again recognized more lawyers from ABNR than from any other Indonesian law firm in their “A-List of Top 100 Indonesian Lawyers”. In its editorial comment, ABLJ says that “the A-List is compiled through research and nominations from in-house counsel in Indonesia…

Indonesian FSA Closes off Public Company Reporting Loopholes by Requiring Disclosure of Shareholder Voting Rights and Share Encumbrances

17 May 2024 The Indonesian Financial Services Authority (Otoritas Jasa Keuangan / “OJK”) has issued a new regulation on the reporting of shareholdings and the encumbering of shares in public companies. OJK Regulation No. 4 of 2024 (“Reg. 4” or the “New Regulation”),[1] which comes into effect on 28 August 2024, replaces the previous regulation on the same topics, OJK…

Indonesia’s FSA Amends Fintech ‘Sandbox’ and Licensing Rules, Prepares for New Crypto-Asset Regulatory Role

15 May 2024 BACKGROUND The Indonesian Financial Services Authority (Otoritas Jasa Keuangan,“OJK”) has made a number of changes to the fintech regulatory framework in Indonesia through the issuance of OJK Regulation No. 3 of 2024 on Financial Sector Technological Innovation (“FSTI”) (the “New Regulation”),[1] which replaces the previous legislation on the issue: OJK Regulation…

ABNR Named ALB Employer of Choice for Sixth Year in a Row

13 May 2024 ABNR has once again been named an Indonesian “Employer of Choice” by prestigious Singapore-based legal publication Asian Legal Business (ALB), marking the sixth year in a row that the firm has been recognized as an outstanding employer by ALB. With the firm currently expanding its headcount significantly, the award is a timely one as we continue to seek top Indonesian legal talent to join…

Indonesia Issues New Rules on Operation of Rooftop Solar, Abolishes Net Metering

29 Apr 2024 On 31 January 2024, the Indonesian Ministry of Energy and Mineral Resources (“MEMR”) issued a new regulation governing the installation and operation of private rooftop solar panel systems by customers of Public Interest Electricity Supply Business License Holders (Pemegang Izin Usaha Penyediaan Tenaga Listrik untuk Kepentingan Umum / “IUPTLU Holder”). The new instrument, MEMR…

ABNR’s Project Gotham Deal Picks Up Prestigious International Award from IJGlobal

26 Apr 2024 We are pleased to share that ABNR’s “Project Gotham” deal was named “Digital Infrastructure Deal of the Year, Data Centre” at the 2023 IJGlobal Annual Awards (APAC), which were presented in Singapore on April 17. IJGlobal, published by Euromoney Institutional Investor plc, London, is one of the world's largest and most reliable infrastructure and project finance data…

Indonesia Moves to Provide Solid Legal Basis for Carbon Capture & Storage

22 Apr 2024 1. Introduction The Government of Indonesia recently issued Presidential Regulation No. 14 of 2024 on Carbon Capture and Storage ("PR 14/2024" or the “new regulation”).[[1]] Carbon capture and storage (“CCS”) has emerged as a key strategy in climate change mitigation as it provides a way to reduce greenhouse gas emissions by injecting carbon underground. The new regulation…

ABNR Partner Agus Ahadi Deradjat Named an ‘Asia Super 50 TMT Lawyer’ by ‘Asian Legal Business’

21 Mar 2024 We are very pleased to share that ABNR partnerAgus Ahadi Deradjat(or Agung for short) is recognized as a leading lawyer in the annual “Asia Super 50 TMT Lawyers” listing featured in the March 2024 edition of prestigious, Singapore-based legal journal, Asian Legal Business (ALB). According to ALB, the annual ranking “showcases the top lawyers in the region’s fast-growing…

ABNR Welcomes Two New Partners

23 Feb 2024 ABNR Counsellors at Law is pleased to announce the appointment of two new partners, Mr. Rully Hidayat and Mr. Mahatma Hadhi. Their appointments, effective 1 January 2024, bring the total number of partners at ABNR to 23 (including two Netherlands-qualified and one New York-qualified foreign counsel). Mahatma, who joined the firm in 2007, specializes in energy and natural resources, mergers & acquisitions…

ABNR Partner Maher Sasongko Named ‘Indonesia Rising Star’ by ‘Asian Legal Business’

20 Feb 2024 We are very pleased to share that ABNR partner Mr. Maher Sasongko has been named an “Indonesia Rising Star 2024” by Asian Legal Business (ALB), a highly regarded, Singapore-based monthly legal journal. According to ALB, their “Indonesia Rising Star“ awards highlight the country’s “top up-and-coming lawyers” who are “not only delivering impressive results,…

Indonesia Ups Mandatory Capital and Equity Requirements for Insurers Amid Continuing Jitters

19 Feb 2024 A corruption case involving then executives of state-owned insurer PT Asuransi Jiwasraya (Persero) culminated in the company’s failure to pay out IDR 16 trillion (USD 1.1 billion) in matured policies due in October and November 2018. The case garnered significant public attention until it sank from the headlines following the outbreak of the Covid-19 pandemic in 2020. However, it was only one…