News andUpdates
News and Updates
April 1, 2020
Employee Protection and Business Sustainability on the Prevention of Covid-19
On March 17, 2020, the Minister of Manpower (the “MOM”) issued her Circular Letter No. M/3/HK.04/III/2020 on the Employee Protection and Business Sustainability on the Prevention of COVID-19 (the…
March 26, 2020
OJK Eases Up on Annual Report Obligation and General Meeting of Shareholders
As the Coronavirus Disease (“COVID-19”) represents an unprecedented challenge to business operations and compliance requirements, and to minimize the spread requires limitation to public meetings…
March 24, 2020
Does Covid-19 Outbreak Excuse Performance of Obligations?
General With the outbreak of the novel corona virus disease (now known as the “Covid-19”) and the restrictions or limitations imposed by Governments in various countries, it is imperative for…
March 19, 2020
OJK Takes Action to Stimulate Uncertain Market Conditions
The Indonesian Financial Services Authority (“OJK”) recently issued two letters, namely: OJK Circular Letter No. 3/SEOJK.04/2020 dated March 9, 2020 on Additional Conditions Constituting…
March 16, 2020
Information from AKSET
Dear All AKSET Clients and Friends, We trust this finds you well. As you may know, the COVID-19 reached Indonesia a few days ago. Since then, the number of infected persons has exceeded 110. In…
February 17, 2020
OJK Re-Introduces Rules to Accommodate Rising M&A Trends in Banking Sector
On December 26, 2019, the Indonesian Financial Services Authority (“OJK”) issued and enacted OJK Regulation No. 41/POJK.03/2019 of 2019 on Mergers, Consolidations, Acquisitions, Integrations and…
February 17, 2020
Updated List of Restricted Positions for Expatriates
On December 31, 2019, the Minister of Manpower (“MOM”) enacted Decree No. 349 of 2019 on Certain Positions Restricted for Expatriates (“Decree 349”). Decree 349 revokes and replaces Decree No. 40 of…
February 12, 2020
OJK Improved Regulation on Quality Assessment of Asset for Commercial Banks
To maintain the soundness level of banks through the protection of banks’ quality of asset and loan-loss provisions, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan - “OJK”)…
February 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…
February 11, 2020
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…