The government of Indonesia issued Presidential Regulation No. 63 of 2019 on the Use of Bahasa Indonesia (PR 63) on 30 September 2019. This long-awaited follow-up to Law No. 24 of 2009 on the State Flag, Language and Coat of Arms, as well as National...
UMBRA’s Partners, Pramudya A. Oktavinanda, Reggy Firmansyah, and Liyanto Wijaya and associate, Paula Aprijanto recently contributed an article on “Foreign Investment Ownership in Indonesian Mining Companies Through Capital Market” in the newly issued Coal & Minerals Asia Magazine Vol. 103. In this article, we shared our thoughts on the possibility of using...
The Financial Services Authority (Otoritas Jasa Keuangan - OJK) issued OJK Regulation No. 37/POJK.04/2018 on Equity Crowdfunding (“OJK Regulation No. 37/2018”) on 31 December 2018. OJK has also held a socialization event regarding OJK Regulation No. 37/2018 on 29 January 2019 (“Socialization”). Backgrounds The rapid growth of...
Indonesian Government has just recently issued a long-awaited Minister of Energy and Mineral Resources Regulation governing a rooftop solar PV system installation and operation through Minister of Energy and Mineral Resources Regulation No. 49 of 2018 on Rooftop Photovoltaic System Usage by PT PLN Customers...
In August 2018, Minister of Energy and Mineral Resources (“MEMR”) issued Decree No. 1924/K/30/MEM/2018 (“MEMR Decree 1924/2018”) to amend MEMR Decree No. 23.K/30/MEM 2018 on Determination of Minimum Percentage of Coal Domestic Market Obligation (“DMO”) for 2018 (“MEMR Decree 23/2018”). ...
New Indonesian Financial Services Authority ("OJK") regulation on digital financial innovation sandboxing: OJK has issued OJK Regulation No. 13/POJK.02/2018 on Digital Financial Innovation in the Financial Sector, effective on 16 August 2018. ...
The Financial Services Authority (Otoritas Jasa Keuangan/OJK) recently issued OJK Regulation No. 11/POJK.04/2018 on the Public Offering of Debt Securities and/or Sukuk (Islamic Bonds) to Professional Investors (“OJK Regulation No. 11/2018”) on 1 August 2018....
As a furtherance to Government Regulation No. 24 of 2018 on Online Single Submission (“OSS”) Services (“GR 24/2018”), the Head of the Investment Coordinating Board (“BKPM”) has recently issued Head of BKPM Regulation No. 6 of 2018 on Guidelines and Procedures for the Implementation of...
The Minister of Energy and Mineral Resources (“MEMR”) has recently issued MEMR Regulation No. 37 Year 2018 on Offering of Geothermal Working Areas, Issuance of Geothermal License and Geothermal Business Assignment (“MEMR 37/2018”) which provides detailed provisions on, among other things, geothermal working areas tender...
In light of the issuance of Government Regulation No. 24 of 2018 on Online Single Submission Services (“GR 24/2018”), the Indonesia Investment Coordinating Board (Badan Koordinasi Penanaman Modal/BKPM) just recently announced that BKPM suspends temporarily all processing and issuance of permits and licenses due to...