The Implementation of Business Judgment Rule for State-Owned Enterprises and Subsidiaries
As part of our clients’ strategic training program, UMBRA recently held a workshop for the senior management members of PT Indonesia Power and its subsidiaries on “The Implementation of Business Judgment Rule for State-Owned Enterprises and Subsidiaries.” Due to the unique nature of SoEs, being business entities that must chase profits on the one hand & part of the state which must satisfy certain social needs on the other hand, SoEs’ leaders should have a complete understanding on corporate law and administrative law matters.
With our in-depth experience handling numerous SoEs and the complex arrangement of their group business activities, led by our Partners, Pramudya A. Oktavinanda and Melati Siregar, we discussed the theoretical and practical aspects of balancing between the need for making sound business judgment and taking proper business risks while at the same time avoiding any corrupt practices that would impose criminal liabilities. We also discussed some of the important lessons learned from infamous anti-corruption cases involving Indonesian SoE’s senior leaders.
We sincerely hope that our workshop could enrich the knowledge and viewpoints of the participants. For further information on our clients’ training program please contact us at pramoctavy@umbra.law