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…
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…
