Category: Newsflash

  • NewsflashOctober 15, 2014

    BI Regulates Foreign Exchange Export Proceeds and Loans

    Bank Indonesia (“BI”) has updated Bank Indonesia Regulation No. 14/25/PBI/2012 regarding Receipt of Foreign Exchange Export Proceeds and Withdrawal of Foreign Exchange External Loans with the issuance of PBI No. 16/10/PBI/2014 dated May 14, 2014 (the “PBI”). The PBI governs the supervision of export proceeds in the form of foreign exchange and the withdrawal of foreign exchange loans Read more…

  • NewsflashOctober 13, 2014

    Constitutional Court Decides Employee Wages Get Priority over Secured Creditors in Bankruptcy / Liquidation

    Continuing the ongoing series of judicial reviews against the Labor Law,¹ the Constitutional Court rendered Decision No. 67/PUU-XI/2013 on September 11, 2014, with the result that payment of wages now receives top priority during bankruptcy or liquidation of an employer—even over satisfaction of secured creditors. The Decision revises Labor Law provisions that initially stipulated that Read more…

  • NewsflashOctober 2, 2014

    New Plantation Law – No Foreign Shareholding Limit, Yet

    On the night of Monday, September 29, 2014, the House of Representatives and the Government approved a draft bill on plantations, which will revoke Law No. 18 of 2004 on Plantations when it is signed by the president and given a number (becoming the “New Plantation Law”). In addition to laying a new general legal framework Read more…

  • NewsflashSeptember 30, 2014

    Entering the New Era of E-Money

    In a globalized era, there is nothing more convenient than electronic payment when it comes to choosing among available payment options. A form of electronic payment currently gaining momentum is electronic money, commonly known as e-money. To facilitate this momentum, Bank Indonesia (“BI”) issued Regulation No. 16/8/PBI/2014 of 2014 (“Amendment”) to amend Regulation No. 11/12/PBI/2009 of Read more…

  • NewsflashSeptember 19, 2014

    MOT and MEMR Regulate Coal Export

    On July 15, 2014, the Minister of Trade (“MOT”) issued Regulation Number 39/M-DAG/PER/7/2014 on Provisions on Export of Coal and Coal Products (“MOT Regulation”), which comes into force on October 1, 2014.1 One of the purposes of this regulation is to prevent overexploitation and ensure the domestic supply of coal and coal products, including anthracite, bituminous, subbituminous, lignite, coking Read more…

  • Newsflash

    New Presidential Regulation on Utilization of Foreign Workers and Training for Indonesian Workers

    For almost 20 years, Presidential Decree No. 75 of 1995 on Foreign Worker Utilization (“PD 75/1995”)  governed the status and procedures for employing foreign workers in Indonesia. In July 2014, Presidential Regulation No. 72 of 2014 on Foreign Worker Utilization and Implementation of Education and Training of  Indonesian Workers as Associates for Foreign Workers (“PR 72/2014”) Read more…

  • NewsflashAugust 15, 2014

    Raw Mineral Export Duty Dramatically Reduced to Incentivize Smelter Construction

    On July 25, 2014, the Minister of Finance (MOF) dramatically reduced export duties on unrefined metal minerals for companies that are taking concrete action toward building smelting facilities. MOF Regulation No. 153/PMK.011/2014 (“MOF 153/2014”) was drafted to address concerns raised by mining companies who are required to build smelting facilities while at the same time paying Read more…

  • NewsflashJuly 25, 2014

    Government Requires Construction Plan and Guarantee Funds in Order to Export Unrefined Metal Minerals

    On April 17, 2014, the Minister of Energy and Mineral Resources (“MEMR”) issued Regulation No. 11 of 2014 on Procedures and Requirements for Granting Recommendations for Overseas Sales of Processed and Refined Mineral Products (“Regulation”) to implement Government Regulation No. 1 of 2014 and MEMR Regulation No. 1/2014 provisions on exporting mineral mining products. The most powerful aspect Read more…

  • NewsflashJune 9, 2014

    New Negative Investment List

    The long-awaited revision of the 2010 Negative Investment List (2010 Daftar Negatif Investasi, or “2010 DNI”) was issued through Presidential Regulation No. 39 of 2014 on List of Business Fields Closed to Investment and Business Fields Open, with Conditions, to Investment, dated April 23, 2014 (“2014 DNI”), effective as of April 24, 2014. According to the Government, the Read more…

  • NewsflashMay 21, 2014

    Additional Sectors Covered under 2014 Sectoral Minimum Wage for DKI Jakarta

    The Governor of DKI Jakarta Province stipulated new sectoral minimum wages (“UMSP”) in Governor Regulation No. 54 of 2014 dated April 17, 2014, and Governor Regulation No. 62 of 2014 dated April 28, 2014, on Provincial Sectoral Minimum Wage (together, the “UMSP Regulation”). The UMSP Regulation stipulates 16 industries and sectors that have to comply with the UMSP: Read more…


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