New BKPM Regulation Provides Clarity on Pre-2007 PMA Divestment Obligations and Status of Shareholding Foreign Directors/Commissioners as Regards Expatriate Employment Rules (23/08/2019)
  Introduction   Indonesia’s Investment Coordinating Board (Badan Koordinasi Penanaman Modal / “BKPM”) has issued a new regulation that amends BKPM Regulation No. 6 of 2018 (“Reg. 6/2018”),[1] which sets out guidelines and procedures for licensing and ...


Minister of Finance Issues Regulation Establishing Sanctions for Failure to Repatriate Proceeds of Natural-Resources Exports (22/07/2019)
   A. Background   The start of 2019 saw a renewed attempt by the Government to compel exporters of natural resources-based commodities to repatriate their export earnings and deposit them in the Indonesian financial system as part of a series of measures that were adopted at the ...


Key Implementing Regulation Issued for Halal Law but More Needed Before Full Enforcement (24/06/2019)
  After a delay of almost five years, an essential implementing regulation has finally been issued for the Halal Products Law.[1] The new regulation (Government Regulation No. 31 of 2019 / “GR 31/2019”[2]), entered into force on 3 May 2019.   GR 31/2019 contains no material ...


ABNR Recognized as Leading Cross-border Restructuring & Insolvency Firm by ‘Global Restructuring Review’ (20/06/2019)
  ABNR has been recognized as one of the world’s top 100 law firms for cross-border restructuring & insolvency work by specialist international legal publication Global Restructuring Review (GRR). ABNR is one of only two Indonesian law firms to be so recognized. A number of ABNR ...


OJK Imposes New Requirements for Capital Increases Using Mechanisms Other than Rights Issues (31/05/2019)
  A. Introduction   The Financial Services Authority (OJK) has issued a new regulation (the “New Regulation”) to update the rules on capital increases conducted by way of rights issues and other mechanisms by publicly listed companies (“Issuers”). The New ...


ABNR Shines in 2019 List of Indonesia’s Top-100 Lawyers (23/05/2019)
  ABNR has emerged in joint first place in terms of the number of partners / foreign counsel recognized by Asian Business Law Journal (ABLJ) as being on the “A List” of Indonesia’s Top-100 lawyers, marking the second year in a row that the Firm has been at the top of ...


IDX REVISITS AND CLARIFIES LISTING REQUIREMENTS (25/04/2019)
  A. Introduction   The Indonesia Stock Exchange (“IDX”) has issued a new regulation under IDX Board of Directors Directive No. Kep-00183/BEI/12-2018, dated 26 December 2018 (the “New Regulation”), which revokes and supersedes IDX Board of Directors Directive ...


Bank Indonesia Issues New Regulation on Prudential Rules for Offshore Debt and FX-denominated Liabilities in Banking Sector (06/03/2019)
  A. Introduction   Bank Indonesia (BI) has issued a new umbrella regulation on the application of prudential norms to limit the exposure of Indonesian banks to offshore debt and foreign currency (“FX”)-denominated liabilities. The regulation (No. 21/1/PBI/2019 – ...


Bank Indonesia Revisits Forex-Activity Reporting Requirements (04/03/2019)
  A. Introduction   Bank Indonesia has issued a new regulation (No. 21/2/PBI/2019 of 2019 / “Reg. 21”)[1] on the reporting of foreign exchange-related (“forex”) activities between Indonesian residents and non-residents. Reg. 21, which was issued on 7 January ...


Director General of Foreign Trade Issues Guidelines on Mandatory Use of Domestic Insurers for Prescribed Imports/Exports (01/03/2019)
  A. Introduction   The Ministry of Trade’s Director General of Foreign Trade has issued a new regulation (No. 02/DAGLU/PER/1/2019 - DG Reg. 02)[1] that sets out technical guidelines governing the mandatory insuring of prescribed imports/exports with domestic insurers pursuant ...