SSEK Partner Fahrul Yusuf Speaks to ALB about Investment and the Indonesian Tech Sector

Fahrul Yusuf

SSEK partner Fahrul S. Yusuf spoke with Asian Legal Business about venture capital and Indonesia’s technology sector for an article, “Unicorn Nation,” that appears in the May 2018 issue of ALB.

Fahrul noted that the rapid growth in Indonesia’s technology sector, and with it the corresponding surge in the number of technology sector clients, started at the beginning of 2014. “We do a broad range of work for them, including mergers and acquisitions and the establishment of new companies.”

Fahrul said one of the main challenges for companies in the sector involved getting licenses. “Many of the startups are focused on the innovative payments sector and the licenses in this particular sector are not the easiest to get,” he said. “Given this, SSEK and our lawyers working with clients in the tech sector need to be more creative, such as whether we would recommend tapping an existing license held by a third party and whether that would be acceptable to the regulators.” Read more »

SSEK Advisor Discusses Bancassurance in Indonesia at Asia Insurance Review Conference

Michael Carl

Michael S. Carl, an international legal adviser at SSEK Indonesian Legal Consultants, was a featured speaker at the 19th Asia Conference on Bancassurance & Alternative Distribution Channels, organized by Asia Insurance Review. The conference was held 10-11 May in Manila, Philippines.

You can find Michael’s presentation on bancassurance in Indonesia here.

Michael joined SSEK in 2004 and has more than 20 years of experience practicing law in Southeast Asia, principally in Indonesia. He is recognized by Chambers & Partners as a leading lawyer for Indonesian banking and finance, corporate/M&A, projects and energy, and real estate, and by IFLR1000 for financial and corporate law. Read more »

Update on Employment Law in Indonesia and Asia

Labor & Employment

SSEK Legal Consultants has contributed the Indonesia chapter to the new Asia Employment Law, a quarterly review of employment law developments across 14 jurisdictions in Asia.

Asia Employment Law: Quarterly Review is designed to help legal and human resources advisers stay up to date on employment-related legal developments in Indonesia and around Asia.

For the Indonesia chapter of the Employment Law review, click here.

You can see the full report here.

SSEK is rated as a top-tier employment and labor law firm in Indonesia by leading legal directories including Chambers & Partners, Legal 500 and Asia Law & Practice. Read more »

6 SSEK Lawyers Named to Asia Business Law Journal A-List of Indonesian Lawyers

DS IEA + Advisors

Six partners and foreign legal advisors at SSEK Legal Consultants have been named to Asia Business Law Journal’s A-List of Indonesia’s Top 100 Lawyers. SSEK had the highest number of lawyers included in the list, along with two other firms.

SSEK’s A-List lawyers are founding partners Dyah Soewito and Ira A. Eddymurthy, and foreign legal advisors Darrell R. Johnson, Michael D. Twomey, Jonathan M. Streifer and Michael S. Carl.

The A-List of Indonesia leading lawyers was compiled based on extensive research conducted by Asia Business Law Journal and nominations received from in-house counsel around the world and Indonesian-focused partners at international law firms. Read more »

SSEK Hosts Seminar with Indonesian Corporate Counsel Association

SSEK-ICCA Seminar

SSEK Legal Consultants welcomed members of the Indonesian Corporate Counsel Association (ICCA) on Wednesday, May 9 for a seminar and discussions on a number of legal topics.

SSEK partners Dewi Savitri Reni and Fransiscus Rodyanto gave presentations and led discussions on confidentiality agreements, Indonesia’s new beneficial ownership regulation and other recent legal developments. Read more »

New Regulation in Indonesia on the Management of Oil and Gas Working Areas with Expiring PSCs

FRD ASV

By Fransiscus Rodyanto and Aninda Nurul Savitri

The Minister of Energy and Mineral Resources (“MEMR) has issued MEMR Regulation No. 23 of 2018 regarding the Management of Oil and Gas Working Areas which Production Sharing Contract Will Expire dated April 24, 2018 (“MEMR Reg 23/2018). MEMR Reg 23/2018 revokes MEMR Regulation No. 15 of 2015 regarding the Management of Oil and Gas Working Areas which Production Sharing Contract Will Expire dated May 11, 2015, and its amendment, MEMR Regulation No. 30 of 2016 dated October 25, 2016 (“MEMR Reg 15/2015, as amended”).

In general, MEMR Reg 23/2018 provides that an existing contractor (“PSC Contractor”) of the relevant Production Sharing Contract (“PSC”) does not have an automatic right to a PSC extension. The PSC Contractor is required to submit a PSC extension application before the PSC expires. PT Pertamina (Persero) (“Pertamina”), the Indonesian state-owned oil and natural gas company, can also apply for a management takeover of the expiring PSC.

Read more »

Bank Indonesia Sets New Limits for the Provision of E-Money

Bank Indonesia in Yogyakarta by B10m

Bank Indonesia (“BI“) has issued a long-anticipated regulation on e-money that stipulates a number of requirements and prohibitions that were previously unregulated. The new regulation, BI Regulation No. 20/6/PBI/2018 regarding Electronic Money (“BI Reg 20“), revokes all existing BI e-money regulations.

E-Money Classification

BI Reg 20 opens with an explicit classification of e-money based on the scope of its use, namely open-loop and the previously unmentioned closed-loop e-money. The difference between the two classifications lies in the party receiving payment: if the party receiving payment – “Goods and/or Services Provider” under BI Reg 20 – is the same party that issued the e-money, then it is closed-loop. If the e-money can be used to make payments to parties other than the issuer of the e-money, it is an open-loop scheme.

E-money providers are required to obtain the appropriate BI license. An exception exists in cases where an e-money issuer provides a closed-loop scheme with a floating fund of less than Rp 1 billion (“Exempted Closed-Loop E-Money“), in which case the issuer is exempted from the BI licensing requirement. Read more »

SSEK Lawyers Quoted in Bloomberg Article on Data Privacy in Indonesia

FSY SPT

Fahrul S. Yusuf, a partner at SSEK, and Saprita Tahir, an associate of the firm, were quoted extensively in a Bloomberg BNA article on data privacy in Indonesia in the wake of the Facebook data privacy scandal, which may have affected more than one million Indonesians.

Fahrul noted that one factor driving anxiety in Indonesia over data privacy is the increasing number of data breaches in the country, especially the illegal trading of personal data among corporations.

Saprita noted that the latest data privacy bill being discussed at the House of Representatives would require organizations to clarify what data they were collecting and how long it would be held. Read more »

Questions Remain Around Halal Certification Compliance in Indonesia

Halal Food

By Winnie Y. Rolindrawan and Alvin Saptamandra Suryohadiprojo

The Indonesian government issued Law No. 33 of 2014 concerning Halal Product Assurance (the “Halal Law”) in 2014. This was seen as an important piece of legislation, considering that Indonesia is home to the world’s largest Muslim population and halal refers to what is permissible under Islamic law. The Halal Law regulates the institution that issues halal certificates, the types of products that must be halal certified, and the procedures for business players seeking to obtain halal certification. However, the Halal Law has never been fully implemented, but the government is now targeting full compliance with halal certification requirements in 2019 as required under the law.

The halal certification requirement basically applies to all products that people consume and/or use. Pursuant to the Halal Law, products that must be halal certified include goods and/or services related to foods, beverages, medicines, cosmetics, chemical products, biologic products and genetically modified products, as well as goods used or utilized by people. Animal slaughterhouses must also be halal certified. Read more »

SSEK Advisor to Speak at Bancassurance Conference

19th Asia Bancassurance Conference

Michael S. Carl, an international legal adviser at SSEK Indonesian Legal Consultants, will be a featured speaker at the 19th Asia Conference on Bancassurance & Alternative Distribution Channels, organized by Asia Insurance Review.

The conference will be held 10-11 May in Manila, Philippines.

The conference allows banks, insurers, insurtechs, strategic partners and international top leaders to connect and explore innovative strategies to leverage the power of partnerships and collaboration. It will look at strategic solutions to improve underwriting, pricing, product innovation and customer touchpoints.

Michael Carl will present a bancassurance case study from Indonesia.

For more information on the conference or to register, please click here. Read more »