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It is still not permitted for an international firm to open an office in Indonesia. The Indonesia work handled by the firms ranked above is led from offices in south-east Asia, predominantly Singapore and Hong Kong.

Allen & Overy’s ‘excellent’ Singapore practice is ‘technically extremely capable and has a high degree of commercial maturity’. The firm now has a top-notch local presence with Ginting & Reksodiputro in association with Allen & Overy.

Herbert Smith LLP benefits from a local presence that is ‘probably the best outfit in town’. The lions share of matters are handled out of Jakarta, with the firm regularly sending secondees to Hiswara Bunjamin & Tandjung to work on the biggest deals.

The ‘extremely responsive and very knowledgeable’ team at Latham & Watkins LLP has an impressive track record on some of the biggest Indonesian M&A and capital markets deals. The team recently represented Indonesian household product manufacturer Megasari Makmur Group in its acquisition by Indian company Godrej Consumer Products Limited of India. Min Yee Ng is praised as ‘very hands-on’. Clarinda Tjia-Dharmadi ‘helps drive one of the best banking practices around’.

Milbank, Tweed, Hadley & McCloy has a great reputation for securities work. Giles Kennedy led a team that recently advised PT Karunia Bara Perkasa on the sale of a $286m stake in Harum Energy.

The diligent team at Skadden, Arps, Slate, Meagher & Flom LLP recently advised an international consortium on its preparation for the $4bn Central Java IPP project. Jonathan Stone and Rajeev Duggal are singled out for ‘their strong negotiation skills and professionalism’.

At White & Case LLP, ‘fees are reasonable and provide exceptional value compared to competitors’. The practice had a strong year advising on project finance matters, and recently advised RZB in its $200m subscription of equity shares issued by Bumi Resources. Charlie Wilson heads the team, and Kaya Proudian has ‘great experience’ and ‘talks in plain English not “lawyer speak”’. Banking and capital markets Counsel Sin Teck Lim ‘gets through an immense amount of work and is very approachable’.

The bulk of Cleary Gottlieb Steen & Hamilton LLP’s Indonesian work is carried out from the Hong Kong office.

Despite not having a local alliance, Clifford Chance still carries out an impressive amount of M&A and financing work in Indonesia, and recently advised mobile telecoms company Axis on a $1.2 billion sharia-compliant financing.

Standout transactions for Davis Polk & Wardwell LLP’s Hong Kong office included advising Berau Coal on its IPO and subsequent debt offerings, and acting for Indonesia’s Star Energy in its high-yield notes offering. William Barron is recommended.

DLA Piper Singapore Pte. Ltd. has good experience advising international investors establishing local subsidiaries. Standout matters included advising coal mining company Techno Orbit Persada on the $200m disposal of its assets. Martin David leads the team.

Hogan Lovells Lee & Lee’s Singapore-based team is devoting increasing attention to 
the Indonesian market and recently advised Medco on the development and financing of a $1.5bn geothermal project in Sumatra. Brad Roach is ‘excellent and has very good commercial acumen’.

Jones Day recently advised coal mining contractor PT Bukit Makmur Mandiri Utama in connection with its $315m tender offer and purchase of senior secured notes from its subsidiary Prime Dig Pte. Joe Bauerschmidt is recommended for securities work and is ‘an excellent lawyer with very good insight into the market’. Mike Arruda is ‘an outstanding upstream oil and gas lawyer’.

In 2010 Linklaters Allen & Gledhill advised RBS on the sale of its commercial banking operations in Indonesia to ANZ Bank.

Norton Rose Australia teamed up with former Soewito Suhardiman Eddymurthy Kardono corporate partner Susandarini to form a new alliance in 2011. The Singapore office recently advised Statoil in its expansion into the Indonesian oil and gas market after acquiring equity interests in several offshore drilling companies.

Standout transactions for Shearman & Sterling LLP included advising J-Power, Itochu and Adaro on the $2.3bn Central Java IPP. Bill McCormack and Sanja Udovicic are the main contacts.

Sidley Austin LLP is best known for its equity capital markets work, and recently advised Krakatau Steel on its IPO on the Indonesian stock exchange. Alex Lloyd, Matthew Sheridan and Prabhat Mehta are the key contacts.

Watson, Farley & Williams LLP is particularly strong in shipping and ship finance. Chris Lowe heads a practice that recently advised a syndicate of banks, led by HSH Nordbank, in a $115m sale and leaseback of three chemical tankers.

Foreign firm associations*

Allen & Overy (Ginting & Reksodiputro in association with Allen & Overy)

Allens Arthur Robinson (Widyawan & Partners)

Baker & McKenzie (Hadiputranto, Hadinoto & Partners)

Blake Dawson (Oentoeng Suria & Partners)

Bond Pearce LLP (Hadromi & Partners)

Freehills (Soemadipradja & Taher)

Herbert Smith LLP (Hiswara Bunjamin & Tandjung)

Joseph Tan Jude Benny (Hadromi & Partners)

Norton Rose Australia (Susandarini & Partners)

Rouse (Suryomurcito & Co. in association with Rouse)

* includes formal and informal associations

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  • Establishment of an Evaluation Team for Contract of Work and Coal Contract of Work Adjustments

    Presidential Decree No. 3 of 2012 on the Contract of Work and Coal Contract of Work Adjustment Evaluation Team (" Decree ") has been issued on 10 January 2012 in order to establish a team that will evaluate the adjustment of Contracts of Work (CoW / Kontrak Karya ) and Coal Contacts of Work (CCoW / Perjanjian Karya Pengusahaan Pertambangan Batubara ) as required by Article 169(b) of Law No. 4 of 2009 on Mineral and Coal Mining (" Law "). The Evaluation Team will operate from 10 January 2012 until December 2013 (Part 7).        
    - Lubis Ganie Surowidjojo

  • OBLIGATION TO REPORT ON DRAWDOWNS OF FOREIGN LOANS IN FOREIGN CURRENCY

    On 30 September 2011, Bank Indonesia (“BI”) issued BI Regulations concerning foreign exchange, i.e. BI Regulation No.13/20/PBI/2011 concerning Receipt of Export Proceeds in Foreign Currency and Drawdowns of Foreign Loans in Foreign Loans (“PBI 20/2011”) and BI Regulation No.13/22/PBI/2011 concerning Obligation to Report a Drawdowns of Foreign Loans in Foreign Currency (“PBI 22/2011”) both of which came into effect on 2 January 2012.
    - Hanafiah Ponggawa & Partners

  • The Long Awaited Bill on Land Acquisition for Public Interest Development Has Finally Been Passed

    The Bill on Land Acquisition for Public Interest Development (" Bill ") has finally been passed by House of Representatives (DPR) on 16 December 2011, and will receive the number of a law upon Presidential signing, or at the latest within 30 days. The Bill is intended to assure that land can be acquired for the development of public interest projects while prioritizing fair, democratic and humane principles and improving on the previous regulations on land acquisition, which are widely seen as being insufficient. The Bill is a significant revision of the prior regime under Presidential Regulation No. 65 of 2006 on the Amendment of Presidential Regulation No. 35 of 2005 on Land Acquisition for Public Interest (" PR 65/2006 ").        
    - Lubis Ganie Surowidjojo

  • Revision of REDD+ Deforestation Moratorium 1:250,000 Reference Maps

    6 months after the issuance of Ministry of Forestry Decree No. 323/Menhut-II/2011 on the Determination of Indicative Maps Concerning the Suspension of New Permits for Utilization of Forests, Use of Forest Areas and Change of Forest Area Usage and Other Usage Areas (" Decree "), Ministry of Forestry Decree No. SK.7416/Menhut-VII/IPSDH/2011 on the Determination of Indicative Maps Concerning the Suspension of New Permits for Utilization of Forests, Use of Forest Areas and Change of Forest Area Usage and Other Usage Areas (Revision I) was issued on 22 November 2011 (" Revised Decree "). The issuance of Revised Decree is mandated by Presidential Instruction No. 10 of 2011, which obliged the Minister of Forestry ("Minister") to revise the maps covering the entire territory of Indonesia setting out areas of suspension of new permit issuance ("Indicative Maps") in every 6 months. 
    - Lubis Ganie Surowidjojo

  • The New Apartment Law

    Law No. 20 of 2011 on Apartments was issued on 10 November 2011 ("Law 20/2011") and revoked the previous law on the same subject matter ("Law 16/1985"), which was considered to no longer be in line with the current conditions. 
    - Lubis Ganie Surowidjojo

  • Revision of Bapepam-LK Rule IX.E.2 on Material Transactions and Changes in Core Business

    Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) Rule IX.E.2 on Material Transactions and Changes in Core Business has been amended by the Chairman of Bapepam-LK Decree No. KEP-614/BL/2011 ("Decree"). The amendment has been in force since 28 November 2011, and has repealed Chairman of Bapepam-LK Decree No. KEP-413/BL/2009 on the same subject matter. The amendment adds exemptions to the disclosure rules for debt, creates a disclosure obligation for changes in the business of certain subsidiaries, and sets a deadline for reporting the completion of the transaction.
    - Lubis Ganie Surowidjojo

  • EXPATRIATES WORKING IN INDONESIA: ARE THEY PERMANENT OR FIXED TERM EMPLOYEES?

    In Indonesia, despite it being generally accepted that a foreign employee is by nature a fixed term employee, recent rulings of the Industrial Relations Court or the Supreme Court have given rise to some arguments among scholars, legal practitioners and jurists since the rulings have recognized foreign employees as ‘permanent’ employees and therefore entitled to severance pay upon termination of their employment in Indonesia.
    - Makarim & Taira S.

  • ASEAN – Australia – New Zealand Free Trade Agreement (AANZFTA) to Enter Into Force for Indonesia

    On 11 November 2011 Indonesia notified its prior ratification, by means of Presidential Regulation No. 26 of 2011 ("Regulation"), of the ASEAN - Australia - New Zealand Free Trade Agreement ("AANZFTA" / "Agreement"). This means that the Agreement will enter into force for Indonesia on 10 January 2012. The original English version of the Agreement is included as part of the Regulation's appendix along with an Indonesian translation, whereby the original English language version of the Agreement will prevail should there be a difference in interpretation. 
    - Lubis Ganie Surowidjojo

  • Amendment of KPPU Guidelines on Notification of Mergers, Consolidations and Acquisitions (Article 29

    Commission for the Supervision of Business Competition ("KPPU") Regulation No. 10 of 2011 on Guidelines for Completing Mergers, Consolidations or Acquisitions that Might Result in Monopolistic Practices and Unfair Competition ("Regulation") has been issued as an implementation of Article 29 (1) of Law No. 5 of 1999 on the Prohibition on Monopolistic Practices and Unfair Business Competition. The Regulation effectively replaces Regulation No. 13 of 2010 with the intention of improving the efficiency of corporate restructuring notification procedures. The Regulation has been in force since 21 September 2011.
    - Lubis Ganie Surowidjojo

  • KPPU Guidelines on Monopolistic Practices (Article 17)

    Commission for the Supervision of Business Competition ("KPPU") Regulation No. 11 of 2011 ("Regulation") has been issued to provide guidelines for the implementation of Article 17 (Monopolistic Practices) of Law No. 5 of 1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition. The Regulation has been in force since 28 September 2011.
    - Lubis Ganie Surowidjojo

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