News

ABNR Advises Geo Energy Resources on USD 151-million Coal Road and Port Deal

26 Aug 2024 ABNR advised Singapore-based coal company Geo Energy Resources group, as project owner and guarantor, on their recently signed agreement for the USD 151-million development of an approx. 92 km coal-haul road that traverses South Sumatra and Jambi provinces, Indonesia, and a 7500 dwt coal loading berth located in South Sumatra province. Under the agreement, the new infrastructure will be designed and…

KPEI Collaborates with Other Financial Sector Institutions to Establish New Indonesian Money & Forex Clearing House

20 Aug 2024 We are pleased to share that we have assisted PT Kliring Penjaminan Efek Indonesia (ID Clear) with the drafting of the shareholders agreement for the establishment of a new central counterparty clearing house (CCP) for the Indonesian money and foreign currency (forex) markets. ID Clear is the Indonesian stock exchange’s central counterparty clearing house for securities. The agreement to set…

ABNR Open Day allows law students a fascinating peek into the life of legal professionals

14 Aug 2024 We are excited to share the success of our second ABNR Open Day, which took place on Saturday, 10 August 2024. Building upon the success of last year’s event, this year’s was even more impactful, bringing together a new wave of aspiring law students eager to take on the challenge of commercial law. Our team was delighted to welcome the students, offering them an exclusive opportunity to…

Indonesia’s FSA Issues New Regulation on Insurance Products and Marketing

19 Jul 2024 The Financial Services Authority (“OJK”) has introduced a number of significant changes as regards how insurance companies should develop and market their products. These changes are set out in OJK Regulation Number 8 of 2024 on Insurance Products and Marketing Channels for Insurance Products[1] (“Reg. 8/2024”), which supersedes OJK Regulation Number 23 of 2015 on the same…

ABNR Advises DFC on Loan Portfolio Guarantee for Bank Sahabat Sampoerna

17 Jul 2024 ABNR has advised the United States International Development Finance Corporation (DFC) on their 50% loan portfolio guaranty of up to USD 100 million to PT Bank Sahabat Sampoerna for the expansion of the bank’s on-lending to eligible micro, small and medium enterprises, women-owned businesses and micro-finance institutions in Indonesia (“the Project”). The deal, which was closed on…

OJK Moves to Strengthen Social Economy by Modernizing BPR Sector

05 Jul 2024 Introduction An important, and frequently overlooked, aspect of the Indonesian financial services industry is the crucial role played by often privately owned savings and loan banks, known now as Bank Perkonomian Rakyat,[1] and their sharia-compliant equivalents, the Bank Perekonomian Rakyat Syariah[2] (collectively “BPR”). The operations of these financial institutions are restricted…

ABNR Named ‘Best Full Service Law Firm of the Year 2024’ by HukumOnline

03 Jul 2024 We are delighted to announce that ABNR has been named “Best Full Service Law Firm of the Year 2024” by prestigious Indonesian online legal publisher HukumOnline. This latest accolade for the firm underscores our consistent drive to providing outstanding legal services and achieving impressive outcomes for our clients. A total of 200 leading Indonesian law firms participated in this year’s…

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…