As the Covid-19 outbreak is showing no sign of slowing down,
governors in certain provinces in Indonesia have begun to initiate
social restriction policies. Particularly for DKI Jakarta, a
large-scale social restriction will officially commence on Friday,
10 April 2020.
From the capital markets front, this restriction is inevitably a
cause of concern for public companies that are required to hold a
general meeting of shareholders ("GMS").
As a follow-up to our previous Client Update (
click here to read), public companies are still expecting the
OJK and SROs to ease the GMS requirements and provision of a proper
infrastructure to allow the GMS to be held virtually. Many believes
that the issuance of a regulation on electronic GMS is imminent.
Hence, the SROs, public companies and capital market supporting
professionals (public notaries, legal consultants and the likes)
are seeking collaborative actions to ensure the smooth
implementation of the electronic GMS.
