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  2. Leading individuals

Leading individuals

Hadiputranto, Hadinoto & Partners’ team continues to act on a number of major regional and global offerings, with 2011 seeing practice head Rambun Tjajo advise the sellers on a $3bn share swap between Bakrie & Brothers and Bumi Resources. Other highlights included acting for BNI on a $500m bond issuance, advising the underwriters on ABM Investama’s IPO, and assisting state-owned electricity company Persero on a $2bn global MTN programme.

The ‘excellentMakes & Partners has advised on several of the largest recent IPOs, including representing Golden Energy Mines in its combined offering and share divestment, and acting for Kim Eng Securities and Deutsche Bank on Salim Ivomas Pratama’s Rp3.3 trillion offering. It also represented real estate developer Kawasan Industri Jababeka on its Rp1.5 trillion rights issue. Joint team heads Yozua Makes and Iwan Setiawan are recommended.

At Melli Darsa & Co., highly regarded name partner Melli Darsa represents local companies and international financial groups. Highlights included acting as local counsel to Indika Energy on the sale of its shares in Petrosea through a private placement, and advising UBS and Morgan Stanley as the underwriters to Alam Sutera Realty’s $150m senior notes issue. Elizabeth Silalahi left to join a global consultancy firm.

Ali Budiardjo, Nugroho, Reksodiputro has longstanding experience on IPOs, where it acts for both issuers and arrangers. Emir Nurmansyah acted as local counsel to Pertamina in its $2.5bn senior debt offering.

Assegaf Hamzah & Partners has ‘depth of knowledge and commitment to providing the best solution for clients’. The practice regularly handles global offerings, including advising the Republic of Indonesia in its $1bn sovereign sukuk issue and $9bn global debt offering. Bono Daru Adji and Ahmad Fikri Assegaf are both ‘excellent’ on capital market transactions.

In 2011, Ginting & Reksodiputro in association with Allen & Overy acted as local counsel to both issuers and underwriters on a number of international offerings. Harun Reksodiputro recently advised a domestic public company on a proposed high yield bond issuance.

Hiswara Bunjamin & Tandjung acts as local counsel to international underwriters and arrangers on securities, debt and equity offerings. It advised a banking group on its $1.5bn Euro MTN Programme, the purchasers on Pertamina’s $2.5bn debt offering, and the underwriters on the sale of a $289m stake in Harum Energy. Clients include Credit Suisse, Citigroup and Goldman Sachs. David Dawborn and Kristo Molina head the practice.

Makarim & Taira S. has a particular focus on borrower representations. Practice head Rudy Kusmanto and Lina Amran advised energy company Cikarang Listrindo on its $300m senior notes offering.

Soemadipradja & Taher’s ‘excellent team’ is led by Linda Widyati, who provides ‘strong expertise and negotiation skills’. It has been advising Bank Syariah Muamalat on its Rp1.5 trillion sukuk issuance, and also represented GMR Energy on the IPO of a stake in Golden Mines Energy.

Hutabarat Halim & Rekan delivers ‘clear, strategic advice and practical solutions’ to domestic and foreign clients on bond issuances, IPOs and regulatory matters. Rosna Chung is recommended.

Arief Tarunakarya Surowidjojo leads the team at Lubis Ganie Surowidjojo, which recently handled a $300m bond issuance for Bank BTPN.

At Mochtar Karuwin Komar, Miranti Malikus-Ramadhani leads on capital markets transactions.

Soewito Suhardiman Eddymurthy Kardono’s team recently acted for Intrepid Mines on a public offering, as well as on private placements in various jurisdictions. Jonathan Streifer is a key contact.

Bahar & Partners’s Wahyuni Bahar has a strong focus on capital markets transactions, and recently advised several Indonesia-based clients on rights issuances and IPOs.

DNC’s track record includes advising on establishing mutual funds, asset-backed securities, derivatives, IPOs and bond issuances.

Hanafiah Ponggawa & Partners recently advised a number of Indonesia-based companies on public offerings and rights issuances. The team includes Al Hakim Hanafiah, Andre Rahadian and Chadri Jurnalis.

Hendra Soenardi continues to assist clients with capital markets matters. It has previously advised Adaro Energy on a US$800 million senior notes issue.

Kartini Muljadi & Rekan has a long track record in capital markets listings, IPOs and rights issues.

Mataram Partners has acted on takeovers of public companies in Indonesia. Oliver Wright is now a consultant to the firm.

Oentoeng Suria & Partners has handled a number of equity market transactions, including recently advising on the backdoor listing of J Resources Nusantra. Atik Susanto and Toby Grainger are the key contacts.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Indonesia for Capital markets

  • Draft Bill on Industry

    The Government recently submitted a draft bill on industry ("Bill") to the DPR. The Bill was introduced to replace the 1984 Industry Law (Law No. 5 of 1984), which is considered outdated, as it does not accommodate trends and advances in the industrial sector. The Bill is currently being debated by the DPR, which will have to vote on rejecting, accepting or amending it. This newsletter will highlight the important changes under the Bill as well as legislators' current attitude towards it.
    - Lubis Ganie Surowidjojo

Legal Developments in Indonesia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Draft Bill on Industry

    The Government recently submitted a draft bill on industry ("Bill") to the DPR. The Bill was introduced to replace the 1984 Industry Law (Law No. 5 of 1984), which is considered outdated, as it does not accommodate trends and advances in the industrial sector. The Bill is currently being debated by the DPR, which will have to vote on rejecting, accepting or amending it. This newsletter will highlight the important changes under the Bill as well as legislators' current attitude towards it.
  • New BKPM Regulation on Investment Licenses and Non-License Facilities

    Indonesia's Investment Coordination Board ("BKPM") issued Regulation No. 5 of 2013 on the Guide and Procedure of Investment Licenses and Non-Licenses (" Regulation 5/2013 "). The regulation replaces its predecessor Regulation No. 12 of 2009 (" Regulation 12/2009 ") and serves as the principal regulation that governs the procedure on investing in Indonesia and obtaining tax and other facilities. Regulation 5/2013 comes into force 30 working days after 12 April 2013. This newsletter will highlight important changes under Regulation 5/2013.
  • Implementation of the 40-30-20 Bank Ownership Rule

    In July 2012, Bank Indonesia issued Regulation No. 14/8/PBI/2012 on Shareholding in Retail Banks (" Regulation "). The Regulation caps single ownership in a retail bank for banks, non-bank entities, and individuals at 40-30-20% respectively (the so-called "40-30-20 Rule"). BI issued the Regulation as part of its policy to break up concentrated shareholding, diversify shareholders and improve bank governance.
  • REDD+ Implementation and Deforestation Moratorium Status

    Efforts to implement REDD+ in Indonesia first began with President Susilo Bambang Yudhoyono’s speech at the G20 Leaders Summit in Pittsburgh, USA on 25 September 2009, to reduce emissions from LULUCF (Land Use, Land Use Change and Forestry) by 26% by 2020 and by 41% with international support. The President’s commitment to reduce emissions was followed by Letter of Intent between the Government of the Republic of Indonesia (“GoI”) and the Government of the Kingdom of Norway on Cooperation on Reducing Greenhouse Gas Emissions from Deforestation and Forest Degradation (“LoI”), signed on 26 May 2010. This LoI also includes partnership to implement REDD+ and financial contribution from Norway to finance the efforts of REDD+ implementation in Indonesia.
  • Sarulla Business Viability Guarantee Issued

    On 11 April 2013 the Ministry of Finance issued a Business Viability Guarantee Letter (BVGL) for the Sarualla geothermal power project company pursuant to Minister of Finance Regulation No. 139/PMK.011/2011 on PLN’s Business Viability. Following the signing of the Energy Sales Contract (ESC) and Joint Operation Contract (JOC) on April 4 this allows the Sarulla project to proceed with implementation, having been initiated on 27 February 1993 but later stalled due to the 1997 financial crisis.
  • Latest Banking Law Draft

    The DPR is currently discussing the Draft Banking Law (“Draft Law”), which will repeal the current Banking Law (Law No. 7 of 1992 as amended by Law No. 10 of 1998 “Banking Law”) upon enactment. The most important changes that the Draft Law will introduce are:
  • Green Shoe Option Concept in Indonesian IPOs

    A . Introduction
  • Acquittal in an AGO-prosecuted Corruption Case Sets Out the Limits of the Law

    The Jakarta Corruption Court, a court of first instance for corruption crimes, acquitted former Merpati Airlines Director Hotasi Nababan of corruption charges. Mr. Nababan was charged over an aircraft lease agreement that went awry. Under the agreement, Merpati leased two airplanes from a US-based corporation - the two aircraft were never delivered despite Merpati having paid the security deposit. At this time, the Attorney General’s Office (AGO) has decided to appeal the decision.
  • Indonesia Under Review - March 2013

    Politics
  • US IRSs FATCAs Effects on Indonesian Financial Institutions

    What Is FATCA?

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Sayenko Kharenko – legal counsel on the acquisition of ING’s securities and custody services bus

    Sayenko Kharenko - legal counsel on the acquisition of ING's securities and custody services business by Citibank. Normal 0 false false false RU X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Обычная таблица"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;}
  • LS Horizon Limited advised PTG Energy Public Company Limited

    LS Horizon Limited has advised PTG Energy Public Company Limited (the " Company "), which operates the business of distribution of petroleum products and equipment for gas stations, including fuel selling through its PT petrol stations, in connection with its initial public offering (" IPO ") and listing of its shares on the Stock Exchange of Thailand (" SET ").
  • Penningtons establishes pensions team with two senior lateral hires

    Penningtons Solicitors LLP has recruited partner Maria Riccio and associate Rupert Graham-Evans to lead its newly established pensions law team. Working between the firm's Hampshire and London offices, they will also support Penningtons' regional offices across Cambridge and the South East, advising clients in the UK and internationally.
  • Matouk Bassiouny Advises Emirates NBD PJSC on the USD 500 Million Acquisition of BNP Paribas S.A.E.

    Matouk Bassiouny advised Emirates NBD PJSC on the acquisition of 100% of the share capital of BNP Paribas S.A.E. in Egypt.  The value of the transaction amounted to USD 500 million. The Share Purchase Agreement was signed in December 2012 and closing took place in Cairo on Sunday June 9 th 2013. 
  • Partner and Senior Associate join Matouk Bassiouny's Dispute Resolution group

    We are delighted to inform you that Johanne Cox joins Matouk Bassiouny as a Partner in the firm's Dispute Resolution group. Johanne has practiced international arbitration in Egypt for a number of years, prior to which, she practiced arbitration in London and Paris at leading international law firms.  She is recognized in Legal 500 (2013) as "very experienced and knowledgeable", adding a "great dynamic" to her law firm's practice.  Johanne is a Fellow of the Chartered Institute of Arbitrators, a Solicitor-Advocate in England and Wales, and an accredited Mediator.
  • Landmark Supreme Court judgement on the Rights of Depositors in Cyprus

    On 07.06.2013 the Supreme Court issued its judgment in the context of the first recourses filed by depositors and challenging the effect on depositors' funds of the recent bank resolution measures. The judgment is a very welcome development and should be viewed as a significant stepping stone in the future developments of the promotion of depositors' claims.
  • Kochański Zięba Rapala & Partners law firm is a laureate of the European Medal 2013

    Kochański Zięba Rapala & Partners law firm is honored to announce that it has been awarded the European Medal 2013 in the Final of the 24th Edition of the Competition organized by the Business Centre Club in cooperation with the Ministry of Foreign Affairs, and under the honorary patronage of the European Economic and Social Committee.
  • Georg Fischer to acquire majority stake in Hakan Plastik of Turkey

    Georg Fischer Ltd. (GF) signed a share purchase agreement on 7 May 2013 to acquire majority stake in Hakan Plastik A.S., with an option to acquire the remaining shares in following years. 
    - Paksoy
  • Hengeler Mueller advises CEWE on transformation of legal form

    The Annual General Meeting of CEWE COLOR Holding AG has approved the change the company's legal form into a partnership limited by shares - Kommanditgesellschaft auf Aktien (KGaA). The change of the legal form includes the transfer of the business currently conducted by CEWE COLOR AG & Co. OHG to CEWE Stiftung & Co. KGaA.
  • Hengeler Mueller advises Grammer AG on refinancing by certificate of indebtedness

    Grammer AG (Amberg), a leading supplier of automotive interior and seating systems, has issued loans evidenced by certificate of indebtedness (Schuldscheindarlehen) in the amount of € 90 million which is divided into tranches of 4 and 6 years as well as fixed and variable interest rate tranches. Grammer AG is refinancing an existing loan evidenced by certificate of indebtedness of 2006 prior to maturity in August with part of the issuing proceeds.