Summary of “POJK 11/20” Regulation In Relation To The Impact of COVID19 Outbreak
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Summary of “POJK 11/20” Regulation In Relation To The Impact of COVID19 Outbreak

The ongoing outbreak of the Coronavirus Disease 2019 (“COVID-19”) has disrupted the stability of the financial system and economic growth, which particularly include the performance and capacity of the credit. As a response to this situation, the Financial Service Authority (Otoritas Jasa Keuangan “OJK”) has issued POJK 11/20, as an effort to stimulate the affected debtors, including micro-small-and medium scale enterprises (Usaha Mikro, Kecil dan Menengah ”UMKM”).

COVID-19 Pandemic as a Force Majeure Event
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COVID-19 Pandemic as a Force Majeure Event

The World Health Organization on Wednesday, March 11, 2020, declared that COVID-19 is a pandemic. Business is most likely to experience the effect. If a businessman cannot perform contractual obligations as a result of the COVID-19, force majeure clauses will be very important.

Construction Disputes and Their Settlement in Indonesia
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Construction Disputes and Their Settlement in Indonesia

The government commits to realizing the ‘equitable construction sector’ by issuing Law No. 2 of 2017 on Construction Services (“Construction Law”) as a legal instrument that guides the implementation of construction services in Indonesia.

Establishment of Foreign Construction Service Companies in Indonesia
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Establishment of Foreign Construction Service Companies in Indonesia

Under the Construction Law (Law No. 2 of 2017 on Construction Services), it is possible for foreign construction companies to operate their business in Indonesia with special requirements. There are several aspects to consider prior to establishing foreign construction companies in Indonesia.

Establishment of Foreign Company in Indonesia
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Establishment of Foreign Company in Indonesia

Foreign Investment under Investment Law is defined as any investing activities in running businesses within the territory of the Republic of Indonesia carried out by any foreign investors (including foreign citizens, foreign corporations, or foreign states) which are either entirely made up of foreign capital or made up of joint capital between foreign and domestic capital

New Regulation on Procedures for Shares Divestment and Mechanism for Determination of Divested Shares Price for Coal and Minerals-mining Business Activities
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New Regulation on Procedures for Shares Divestment and Mechanism for Determination of Divested Shares Price for Coal and Minerals-mining Business Activities

The Minister of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) has issued Regulation of the MEMR Number 43 of 2018 (“Regulation 43/2018”) which amends Regulation of the MEMR Number 09 of 2017 on Procedures for Shares Divestment and Mechanism for Determination of Divested Shares Price for Coal and Minerals-Mining Business Activities.