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Maria H. Sagrado

Work +622150808300/2521272
Makarim & Taira S.

Work Department

Banking and Finance; Corporate and Commercial.


Maria Sagrado has extensive high level experience in structuring foreign investment and financial transactions. She represents the interests of numerous foreign clients investing in Indonesia, including companies and investors from the China, USA, UK, Singapore, and European Union across a wide range of sectors, including power plants, pharmaceuticals, plantations, distribution, department store, mining and other business areas.

Combining her European and Indonesian exposure, Maria’s well-rounded experience in relevant corporate and commercial practices enable her to comprehensively advise and guide foreign clients entering into local investments or transactions in Indonesia, with due consideration of the various aspects involved.

Her ability to forge rapport between disparate parties and drive solutions is also showcased by her successful track record executing prominent finance transactions involving leading foreign banks, in particular banks from China, Germany, Malaysia and other European countries, as well as offshore export credit agencies (such as Sinosure, Euler Hermes, SACE, OeKB) in the financing of Indonesian borrowers including State Owned Enterprises (SOE), power plant, major mining related industries and manufacturing companies.

As one overseas client noted: “I have worked with Maria Sagrado on over 20 loan facilities with ECA cover from different countries, the advice I have received was always comprehensive, fast and to the point. The interaction with us, as lender and the borrower led always to a speedy finalization of the loan facility, so it was a win-win-solution for all parties involved.”


Administration, PT. Serg's Product Indonesia, 1997-1999; Intern, Gani Djemat & Partners, Surabaya, 2000; Associate, Makarim & Taira S., 2000; Internship with Linklaters Allen & Gledhill, Singapore office, 2005; Senior Associate, Makarim & Taira S., Jakarta, 2008-2012; Partner, Makarim & Taira S., Jakarta, present.


Indonesian and English.


Indonesian Advocates Association (PERADI); Indonesian Capital Market Legal Consultant Association; Fintech Association.


S.H. (cum laude predicate), Airlangga University, Surabaya, Indonesia, 2000; M.Kn, Pelita Harapan University, Jakarta, Indonesia, 2015;
LL.M, International Commercial and European Law, University of Sheffield, Sheffield, United Kingdom, 2005.


Banking and finance

Within: Banking and finance

Makarim & Taira S. works for major bank clients such as China Development Bank, Bank of America and Deutsche Bank. Lina Amran has a strong skillset in banking, restructuring, credit insurance and trade financing. Transactions specialist Maria Sagrado works for a number of Indonesian and multinational banks. Kurniawan Tanzil has worked on complex financial transactions for borrowers and lenders.

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Capital markets

Within: Capital markets

Makarim & Taira S.’s practice works with issuers, investment banks and other financial institutions, and is experience in both public and private offerings. Maria Sagrado is a key contact and has worked with many multinational clients on capital market transactions.

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Corporate and M&A

Within: Corporate and M&A

Makarim & Taira S. has a diverse corporate practice with experience in mergers, reorganisations and cross-border transactions. Clients of the firm include BP, Pertamina Geothermal Energy, and Mapletree Investments. Practice head Rahayu Ningsih Hoed is experienced in corporate and M&A transactions. Other key team members include Richard Cornwallis, who advised UBM on its acquisition of Allworld Exhibitions and assisted Harris Corporation with its sale of Harris CapRock Communications to SpeedCast; Ben Clanchy, who advised Lotte Chemical Corp on merger control work relating to the purchase of Samsung Fine Chemicals; Teddy Suprijadi, who has particular expertise in foreign investment, joint ventures and corporate restructuring; and Maria Sagrado, who has a strong track record in advising foreign clients on Indonesian transactions. Lia Alizia and Kurniawan Tanzil are also notable names.

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IT and telecoms

Within: IT and telecoms

Makarim & Taira S.’ corporate practice has a strong track record in TMT transactions and provides ‘swift response times’ and ‘clear communication’. The firm provides ‘practically useful feedback that goes beyond the letter of the law’. Maria Sagrado and Richard Cornwallis are key figures.

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Projects and energy

Within: Projects and energy

Makarim & Taira S. is very active in power projects, and practice co-head Rahayu Ningsih Hoed assisted Bhumi Jati Power with the development of the Tanjung Jati 5 & 6 (Jawa-4) expansion. He also acted for Cirebon Energi Prasarana in the development of the Cirebon expansion (Jawa-1) x 1,000MW coal-fired steam power plant. Co-head Vincent Ariesta Lie assisted China Shenhua Energy with the development of the Sumsel-1 mine mouth coal-fired steam power plant. Ben Clanchy was instructed by Pertamina and PGE Geothermal Energy on transactional and advisory issues. Yohanes Masengi also has significant experience in power projects and M&A. Maria Sagrado is renowned for her work on power projects, particularly with Chinese clients.

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Legal Developments by:
Makarim & Taira S.


    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.

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