By Rusmaini Lenggogeni The Indonesian Government has taken several measures to respond to the COVID-19 pandemic. The main measure was the enactment of Government Regulation in lieu of Law No. 1 of 2020 regarding the State\'s Finance Policy and Financial Stability to Manage COVID-19 and/or in the Framework of Averting Threats to the National Economy … Impact of COVID-19 on Corporate Governance in Indonesia
By Denny Rahmansyah and Mahareksha Singh Dillon The COVID-19 pandemic has caused more economic harm to Indonesia than the subprime mortgage crisis in 2008. As part of efforts to check the spread of the virus, the Indonesian government has implemented a policy of Large-Scale Social Restrictions (Pembatasan Sosial Berskala Besar or \"PSBB‚Äù), requiring most businesses … Indonesian Bankruptcy and PKPU Proceedings in a Time of COVID-19
According to reports and anecdotal evidence, many players in the Indonesian upstream oil and gas industry consider the latest form of Production Sharing Contract (“PSC“) using the gross split mechanism less attractive than the cost recovery PSC. So, in an effort to attract new investors and maintain existing investors, the Minister of Energy and Mineral … Indonesian Government Grants Flexibility for Use of Gross Split and Cost Recovery PSCs
Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK“) has issued OJK Regulation No. 41/POJK.04/2020 regarding the Implementation of Electronic Securities Offerings in the Form of Equity Securities, Debt Securities and/or Sharia Bonds (July 2, 2020) (“Regulation“). The Regulation stipulates that offerings of equity securities, debt securities and sharia bonds be done electronically, with the … Going Online: Indonesia’s OJK Establishes Mechanism for Electronic Securities Offering
Indonesia’s acting Director General of Mining and Coal (“DGMC“) has issued a letter to the country’s provincial Governors to emphasize that the moratorium on the issuance of new mining licenses is still in place. DGMC letter No. 809/30.01/DJB/2020 (“DGMC Letter 809/2020“), issued July 9, 2020, emphasizes the transitional provision of Article 173C of Law No. … No New Mining Licenses – A Reminder to Governors in Indonesia
The Indonesian Minister of Communication and Informatics (“MOCI“) is working on a draft regulation on the governance of private scope electronic system organizers (the “Draft Regulation“). If enacted, the Draft Regulation would have a significant impact on how electronic system organizers (“ESOs“), specifically private scope ESOs (“Private ESOs“), implement their activities in Indonesia. It could … Indonesia Looks to Regulate Private Electronic System Organizers
By Ira A. Eddymurthy and Indrawan D. Yuriutomo In response to the COVID-19 pandemic and its possible effect on the banking and financial sectors, Indonesia\'s Financial Services Authority (Otoritas Jasa Keuangan or \"OJK‚Äù) has issued a regulation to encourage mergers between problematic banks. OJK Regulation No. 18/POJK/03/2020 regarding Written Order to Handle Problematic Banks (“POJK 18/2020“) … COVID-19: KPPU and OJK Address Mergers Between Problematic Banks in Indonesia
In an effort to strengthen domestic pharmaceutical manufacturers and decrease the dependency on imported raw materials, the Indonesian government issued Presidential Directive No. 6 of 2016 on the Acceleration of the Development of the Pharmaceutical and Medical Equipment Industry. Then, on May 29, 2020, the Minister of Industry (“MOI“) enacted MOI Regulation No. 16 of … New Local Content Regulation for Pharmaceutical Products in Indonesia
The Indonesian Minister of Trade (“MOT“) has issued a regulation that seeks to clarify many of the issues associated with doing business in the country’s booming e-commerce sector, while at the same time imposing new requirements on both foreign and domestic e-commerce companies selling goods and services in Indonesia through online platforms. This new regulation … Indonesia Introduces New Requirements for E-Commerce Companies
SSEK Legal Consultants has contributed the Indonesia section of the new Asia Employment Law: Quarterly Review of employment law developments across 15 jurisdictions in Asia. Asia Employment Law: Quarterly Review is designed to help legal and human resources advisers stay up to date on employment-related legal developments in Indonesia and around Asia. You can see the … Employment Law Update
