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Articles contributed by Hanafiah Ponggawa & Partners
GOVERNMENT INVESTMENT UNIT OF INDONESIA (PIP) AND PT PLN (PERSERO) HAVE SIGNED A
USD 800 MIO SOFT LOAN
On 13 December 2011, Badan Layanan Umum Pusat Investasi Pemerintah (BLU PIP) and the State Electricity Company (PT PLN (Persero)) signed an Investment Agreement in the Form of a Soft Loan (Perjanjian Investasi dalam bentuk Pemberian Pinjaman dengan Persyaratan Lunak), by which BLU PIP has granted PT PLN (Persero) a soft loan.
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.
Dear investors, don’t worry!
A technologist and author, Bruce Schneier, once said, “The mantra of any good security is: ‘Security is not a product, but a process.’” This quote may be true, and this is what the government of Republic of Indonesia is currently working on.
PROPERTY OWNERSHIP BY NON-INDONESIAN NATIONALS
Early this year, the State Ministry of Housing Affairs sent the public a message in favor of amending the current rules on property ownership by non-Indonesian nationals for their occupation.