PT Sri Rejeki Isman Tbk, salah satu perusahaan tekstil terbesar asal Indonesia yang dikenal dengan nama 'Sritex', dinyatakan pailit oleh Pengadilan Niaga pada Pengadilan Negeri Semarang pada tanggal 21 Oktober 2024 dan resmi mengakhiri kegiatan operasional usahanya pada tanggal 1 Maret 2025 lalu.
On 24 December 2024, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 40 of 2024 on Information Technology-Based Joint Funding Services (“OJK Reg. 40/2024”), replacing and revoking OJK Regulation No. 10/POJK/05/2022 on Information Technology-Based Joint Funding Services (“OJK Reg. 10/2022”).
Lembaga Manajemen Kolektif Nasional ("LMKN"), or the National Collective Management Organization, plays a critical role in managing music royalties in Indonesia. Established under Law No. 28 of 2014 on Copyright, LMKN is authorized to collect and distribute royalties from the commercial use of music, ensuring fair compensation for creators, copyright holders, and related rights holders.
The Indonesian government, through the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, plans to establish a family office task force within the next month.
As part of the Government of the Republic of Indonesia's commitments to investment certainty and public welfare in the mining sector
The pet owners in Indonesia increased significantly after the pandemic. It led to the emergence of varieties of pet food ("Pet Food"), both imported and locally made.
On 4 July 2022, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan) ("OJK") issued a new regulation in relation to online Peer to Peer Lending ("P2P"), concerning Information Technology-Based Co-Financing Services under OJK Regulation.
The Apostille service has simplified the process of legalizing foreign public documents quickly, affordably, and adapting to global developments for legal purposes,
The COVID-19 pandemic propels e-commerce growth in Indonesia as customers have to turn to online platforms to shop amid movement restrictions and health safety. This is thus pushing more and more businesses to sell their products online.
Recently, the Ministry of Investment (formerly Investment Coordinating Board ("BKPM")) issued the BKPM Regulation No. 4 of 2021 concerning the Guidelines and Procedures for Risk-Based Business Licensing Services and Investment Facilities ("BKPM Regulation No. 4/2021") in order to ensure the implementation of Government Regulation No. 5 of 2021 on the Organization of Risk-Based Business Licensing ("GR 5/2021")
Commonly, the utilization of expatriates in Indonesia reflects a need for talent in certain positions. The employment of such foreign workers in Indonesia must be in accordance with the procedures for using foreign workers, as ordinarily regulated by the government and/or the Minister of Manpower
The employment sector is one of the clusters that has received the most attention since the issuance of the Omnibus Law. Following our previous newsletter, there were uncertain matters that have not been regulated under the Omnibus Law considering those matters that will be further regulated under the government regulations.
As Southeast Asia’s largest economy and one of the world’s fastest-growing economies, Indonesia offers plenty of career opportunities for locals and expatriates alike.
On 2 November 2020, President Joko Widodo signed Law No. 11 of 2020 concerning Job Creation (“Job Creation Law”). The Job Creation Law is expected to increase the investment, ease doing business in Indonesia, and enlarge job opportunities for Indonesian workers.
The enactment of Law No. 11 of 2020 concerning Job Creation (“Omnibus Law”) on 2nd November 2020 amends 78 (seventy-eight) prevailing legislations and also brings a new concept in Indonesia. One of them is the “Land Bank” concept.
The Job Creation Bill was finally promulgated as Law No. 11 of 2020 concerning Job Creation (“Job Creation Law”) on 2 November 2020. This Job Creation Law is over 1.187 pages long, consists of 186 articles, which ultimately amends 78 prevailing legislations.
After a prolonged discussion, the Job Creation Bill was finally promulgated as Law No. 11 of 2020 concerning Job Creation (“Job Creation Law”) on 2 November 2020. This Job Creation Law is over 1.187 pages long, consists of 186 articles, which ultimately amends 78 prevailing legislations.
The Ministry of Finance (“MoF”) issued the Regulation No. 115/PMK.06/2020 of 2020 on the Utilization of State Owned Assets (“MoF Reg No. 115/2020”), which came into force on 31 August 2020.
The coronavirus disease 2019 (“COVID-19”) is not only striking out every aspect of day-to-day life but also causes a disruption in the Indonesian investment climate.
The Governor of the Special Capital Region of Jakarta Province (“DKI Jakarta”) has been forced to re-apply the Large Scale Social Restriction (Pembatasan Sosial Berskala Besar/”PSBB”) due to the significant escalation of the spread of Coronavirus Disease 2019 (“COVID-19”)
A digital government service is one of the basic capabilities of national automated system offered by several government agencies in Indonesia.
During the COVID-19 pandemic in Indonesia since March 2020, various services such as overseas flights and other economic activities in Indonesia have stopped.
On the 10th of February 2020, the Minister of Trade (“Minister”) has issued Regulation No. 8 of 2020 concerning in Electronically Integrated Business Licensing Service within the Trade Sector (“Regulation No. 8/2020”), as the new legal framework for licensing services in trade sector
The Real Estate Investment Fund (Dana Investasi Real Estat or “DIRE”) has been known since 2007 in Indonesia.
On 10 July, 2020, the Ministry of Law and Human Rights-Directorate General of Immigration issued a Circular Letter No. IMI-GR.01.01-1102 of 2020 concerning Immigration Stay Permit Services in New Normal (“Circular Letter”).
Indonesian COVID-19 Task Force on 6 June 2020 issued further guidance on health procedure for traveling within Indonesia and arrival from overseas.
In an attempt to support the government’s “new normal” policy while supporting the sustainability of businesses in amidst of COVID-19 pandemic, the Ministry of Health has issued the health protocols for the employer and its employees to mitigate the spread of COVID-19 in the workplaces
To overcome the deterioration of Indonesian economic due to the impact of Covid-19 pandemic and as one of the implementing regulations of the Government Regulation in Lieu of Law No. 1 of 2020
The rapid spread of COVID-19 has caused the World Health Organization (WHO) declares a public health emergency and leading to Indonesian government closes international borders for temporary.
The Governor of the Special Capital Region of Jakarta Province (“DKI Jakarta”) issued the Decree No. 380 of 2020 concerning the Enactment of Large Scale Social Distancing Implementation In Handling the Corona Virus Disease 2019 (COVID-19)
On 2 April 2020, the Directorate General of Immigration has issued the Circular Letter No IMI-GR.01.01-2325 of 2020 Regarding the Temporary Ban for Foreigners to Enter into Indonesia (“Immigration Circular Letter No. 2325/2020”).
The Financial Services Authority (Otoritas Jasa Keuangan/”OJK”) issues the regulation No. 11/POJK.03/2020 of 2020 concerning the Stimulation of National Economic as the Countercyclical Policy of the Coronavirus Disease 2019 Spread (“POJK No. 11/2020”). POJK No. 11/2020, which was enacted on 16 March 2020,
On 31 March 2020, Ministry of Law and Human Rights has issued a new regulation No. 11 of 2020 Regarding the Temporary Ban for Foreigners to Enter into Indonesia (“Permenkuham No. 11/2020”).
To responding the World Health Organization (WHO) statement on 11 March 2020 that declared the Corona Virus Disease 19 (“COVID-19”) as a global pandemic, Indonesian Government, through National Disaster Management Board (Badan Nasional Penanggulangan Bencana)
The Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency “MoA” has issued the Regulation No. 9 of 2019 concerning Electronically Integrated Security Rights Services (“MoAR No. 9/2019”) which has been in force since 21 June 2019.
For a decade, the Law No. 24 of 2009 on National Flag, Language, Emblem and Anthem (“Law No. 24/2009”) requires both foreign and local business actors to use Indonesian language for transactions and commercial documents that involve the Indonesian party.
On 31 December 2018, the Ministry of Education and Culture (“MOEC”) issued the Regulation No. 48 of 2018 concerning Location Permits for Filmmaking in Indonesia by Foreign Parties (“Regulation No. 48/2018”).
The Financial Services Authority (Otoritas Jasa Keuangan/”OJK”) has issued regulation on Equity Crowdfunding, i.e. OJK Regulation No. 37/POJK.04/2018 concerning Equity Crowdfunding (“POJK No. 37/2018”) which has been in force since 31 December 2018.
On 9th October 2018, the Governor of the Special Region of Jakarta (“Governor”) has enacted the new regulation regarding the 2019 provincial minimum wage, namely the Governor of DKI Jakarta Regulation No. 114 of 2018 (“Governor Regulation No 114/2018”).
On 21 June 2018, President of the Republic of Indonesia, Joko Widodo issued and enacted Governmental Regulation No. 24 Year 2018 concerning Electronically Integrated Business Licensing Services (“Regulation”).
Bank Indonesia (“BI”) has issued the newest regulation on Electronic Money (“E-Money”), i.e. Bank Indonesia Regulation No. 20/6/PBI/2018 on Electronic Money (“PBI 20/2018”).
The Governor of the Special Region of Jakarta (“Governor”) has determined the 2018 minimum wages for workers in several industrial sectors through the issuance of the Governor Regulation No. 16 Year 2018 concerning the 2018 Minimum Wages for the Industrial Sector (Upah Minimum Sektoral Provinsi/”UMSP”)
The development of technology has provided new and innovative systems to cater the needs of the public. This includes development and innovation in the sector of finance which covers a variety of needs such as payment transactions and payment instruments.
The Minister of Energy and Mineral Resources has issued a new regulation No. 05 of 2017 concerning the Enhancement Value Added of Minerals through Domestic Minerals Processing and Refinery Activities
The Ministry of Environment and Forestry has issued the Regulation No. P.50/Menlhk/Setjen/Kum.1/6/2016 concerning the Guidance for Borrow to Use Forest Area Permits (“Regulation No. 50”).
The Minister of Agrarian Affairs and Spatial Planning/Head of National Land Affairs Agency has issued regulation No. 15 of 2016 concerning The Procedures of Relinquishment and Annulment of Land Cultivation Right (Hak Guna Usaha/HGU) and Right to Use (Hak Pakai) Over Areas of Burned Land (“Regulation No. 15”).
Lawyers from Yang & Co recently represented foreign clients under investigation by the Indonesian Safeguard Committee of Ministry of Trade accused of unfair international trade practices.
On 28th December 2015 the Government has issued regulation No. 103 of 2015 on the Ownership of Residential Property by Foreigner Domiciled in Indonesia (“2015 Regulation”).
Audits of partnerships aren’t a flashy topic, but new audit rules will have everyone scrambling to figure out their implications.
Perhaps no issue has drawn as much attention to the Federal Aviation Administration in recent months as its much anticipated final regulations for small unmanned aircraft systems (UAS), or drones, expected in the early part of 2017.
Bank Indonesia (BI) has issued new regulation No. 17/3/PBI/2015 concerning the Obligation to Use Indonesian Rupiah in the Territory of the Republic of Indonesia (“PBI No. 17/3/PBI/2015”) dated 31 March 2015.
On 31 December 2014, the Chief of the Supreme Court issued the Decree No. 214/KMA/SK/XII/2014 regarding Time Period For Handling Cases at the Supreme Court (“Decree 214”).
The Ministry of Transportation has issued the Regulation of the Ministry of Transportation of the Republic of Indonesia Number PM 60 Year 2014 regarding the Management and Business of Loading and Unloading of Goods from and to Vessels (Stevedoring)
The United States Supreme Court, clarifying the proper standard of review of factual findings arising during a court’s construction of patent claims, held that such “Evidentiary Underpinnings” should be reviewed for clear error rather than de novo.
The Governor of the Jakarta Special Capital City Region has determined the minimum wage for specific industrial sectors under the Governor Regulation No. 20 of 2015 concerning the Provincial Sectoral Minimum Wage
In October 2014, Bank Indonesia (“BI”) has issued Regulation of Bank of Indonesia No. 16/20/PBI/2014 concerning Implementation of Prudential Principles in Managing Non-Bank Corporate Offshore Loan (“PBI”)
On October 23, 2014, in Motorola Credit Corp. v. Standard Chartered Bank, No. 162, 2014 N.Y. LEXIS 2946 (2014), the New York State Court of Appeals, New York’s highest court, answered in the affirmative the following question certified to the court by the U.S. Court of Appeals for the Second Circuit
The House of Representative has initiated to amend Law No. 18 of 2004 concerning Plantation (“Law No. 18 of 2004”). The purpose of the issuance of the new law is because the government considers that Law No. 18 of 2004 is no longer in compliance with the current plantation business in Indonesia
Recently, the Indonesian Investment Coordinating Board (“BKPM”), has issued a circular letter No: 252.A.8/2014 (“Circular Letter”), which obliges all existing capital investment companies in the form of a legal entity company in Indonesia (“Company”) to register itself in the SPIPISE starting from 1 September 2014 until 30 September 2014
For a long time, businesses have thought of litigation as a burden, requiring many hours of employee time responding to discovery requests, as well as often incurring significant legal fees and other related costs.
The Presidential Regulation Number 39 of 2014 regarding List of Business Fields That Are Closed For Investment and Business Fields That Are Conditionally Open For Investment, or is also known as the Negative Investment List/Daftar Negatif Investasi (“DNI 2014”) was enacted on the 24th of April 2014
As Indonesian companies expand their businesses into the United States, the potential for conflict also increases. Many parties doing business in the United States opt to resolve their disputes through litigation in the U.S. court system.
The potential risks posed to a business by former employees are common to employers worldwide. Whether an employee is working in Jakarta, London or New York at termination of the employment relationship makes little difference
The government of the Republic Indonesia has set higher qualifications for plantation companies by issuing Regulation of the Minister of Agriculture No. 98/PERMENTAN/OT.140/9/2013 of 2013 concerning the Guidelines of Plantation Business Licensing ("Permentan No. 98/2013").
There are many reasons why an Indonesian company seeking to raise capital may want to undertake an initial public offering (IPO) in the United States
Regulation of the Minister of Energy and Mineral Resources No. 27 of 2013 concerning the Procedure and Price Fixing for Share Divestment and Changes to Investment in Mineral and Coal Mining Business (“PERMEN No. 27/2013”) was issued on 13 September 2013
