Category: Newsflash

  • NewsflashFebruary 11, 2020

    Supervisory Board of KPK – Implementing Regulations

    Last year, the Parliament and the Government amended Law No. 30 of 2002 dated December 27, 2002 on Corruption Eradication Commission (“KPK”) with Law No. 19 of 2019 dated October 17, 2019 (collectively, the “KPK Law”). Such amendment to the KPK Law created public backlash due to the fear of attempts to weaken KPK. One Read more…

  • Newsflash

    Minister of State-Owned Enterprises Bolsters Use of Local Products in Procurement of Goods and Services

    On December 12, 2019, the Minister of State-Owned Enterprises (Badan Usaha Milik Negara or “BUMN”) issued Regulation No. PER-08/MBU/12/2019 on General Guideline for the Implementation of the Procurement of Goods and Services by State-Owned Enterprises (the “New Regulation”). This New Regulation aims to increase the use of local products and to enhance the role of Read more…

  • NewsflashFebruary 5, 2020

    New Insurance Regulations on Foreign Ownership and Compliance Director Requirement

    There are 2 (two) regulations issued concerning insurance business sector–which are: Government Regulation Number 3 of 2020 (“GR 3/2020”) to amend the previously issued Government Regulation Number 14 of 2018 on Foreign Ownership in Insurance Business Companies (“GR 14/2018”). GR 3/2020 has been in force since January 20, 2020. GR 3/2020 introduces new provisions on Read more…

  • Newsflash

    OJK Launched New Regulation on the Implementation of Anti-Fraud Strategy for Commercial Banks

    The Indonesian Financial Services Authority (“OJK”) issued OJK Regulation No. 39/POJK.03/2019 of 2019 on the Implementation of Anti-Fraud Strategies for Commercial Banks that comes into effect on January 1, 2020 (“POJK No. 39/2019”) to revoke Bank Indonesia Circular Letter No. 13/28/DPNP of 2011 on the Implementation of Anti-Fraud Strategies for Commercial Banks (“SEBI No. 13/2011”). Read more…

  • NewsflashJanuary 24, 2020

    Indonesian Constitutional Court Reviewed Fiduciary Security Law

    On January 6, 2020, the Indonesian Constitutional Court (Mahkamah Konstitusi) rendered its decision number 18/PUU-XVII/2019 (“Decision No. 18/2019”) in relation to the judicial review of Article 15 paragraphs (2) and (3) of Law Number 42 of 1999 dated September 30, 1999, on Fiduciary Security (the “Fiduciary Security Law”). Briefly, the petition for the review was Read more…

  • NewsflashJanuary 22, 2020

    Government Introduces Regulatory Framework on Rooftop Solar Panel for Captive Use

    On November 16, 2018, the Minister of Energy and Mineral Resources of the Republic of Indonesia (the “MEMR”) enacted MEMR Regulation No. 49 of 2018 on the Utilization of Rooftop Solar Power Generation System by the Customer of PT Perusahaan Listrik Negara (Persero) (“MEMR 49/2018”). MEMR 49/2018 was enacted as an attempt of the government Read more…

  • Newsflash

    Acceleration of Electric Vehicle Industry in Indonesia (Updated)

    On August 12, 2019, the Government of Indonesia enacted Presidential Regulation No. 55 of 2019 dated August 12, 2019 on the Acceleration of Battery Electric Vehicle Program for Road Transportation (“PR 55/2019”). PR 55/2019 was enacted as an attempt of the Indonesian Government to increase energy efficiency and energy conservation in the field of transportation, Read more…

  • NewsflashJanuary 13, 2020

    Regulations on FX from Export and Import Activities Renewed

    Foreign exchange (“FX”) is one source of funding that is relatively stable and sustainable. It supports the stability of Indonesian lawful currency, Rupiah, which is imperative for national economic development. The regulatory body of foreign exchange is Bank Indonesia (“BI”), which recently renewed the regulations on FX derived from exports and imports under BI Regulation Read more…

  • NewsflashJanuary 6, 2020

    Minister of State-Owned Enterprises Prohibits Souvenir Gifting

    The Minister of State-Owned Enterprises (the “Minister”) issued Minister Letter No. SE-8/MBU/12/2019 dated December 5, 2019 on Prohibition for Gifting of Souvenirs or the Likes (the “Circular Letter”). The Circular Letter is addressed to the Board of Directors, Board of Commissioners, and Board of Supervisors of State-owned Enterprises (“SOE”). The Circular Letter is intended to Read more…

  • NewsflashDecember 13, 2019

    New Tax Incentives Introduced for Investors in Certain Industries and/or Regions

    The Government enacted Government Regulation No. 78 of 2019 dated November 13, 2019 on Granting of Income Tax Incentives for Investments in Certain Industries and/or Regions (“GR 78”) which comes into effect as at today, December 13, 2019. GR 78 revokes Government Regulation No. 18 of 2015 dated May 6, 2015 concerning the same subject. Read more…


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