Businesses have alternatives for settling disputes outside of the civil/criminal court system, be it by way of mediation, arbitration, or through certain related institutions. Interest to resolve disputes through arbitration in Indonesia rose since the enactment of Law No. 30/1999 on Arbitration and Alternative Regular Dispute Resolution (UU Arbitrase). For many businesses, dispute resolution outside of the court is the preferred choice of action.
Read MoreThe government of Indonesia and financial authorities will propose the Financial System Safety Net (JPSK) bill to the House of Representatives (DPR). The bill will be proposed as a protocol for anticipating financial crisis. President Joko “Jokowi” Widodo plans to submit the JPSK bill to the DPR in the near future.
Read MorePT Rimo International Lestari Tbk (RIMO) kicked off its rights issue program for 30.6 billion new shares, representing 98.9% of its enlarged shares capital, priced at Rp265 per share, to raise total proceeds of Rp8.11 trillion. Each shareholder recorded at August 14, 2015 will be entitled to buy 90 new shares. Haven Capital Pte Ltd will act as standbuy buyer. Trading of rights is scheduled for August 19, 2015 to September 14, 2015.
Read MorePresident Susilo Bambang Yudhoyono enacted Law No. 6/2014 on Village (UU Desa) as the legal basis for actions done in the name of improving economic conditions in villages. But SBY did not have the chance to come up with the Law’s implementing regulation, and so the task was left in the hands of President Joko “Jokowi” Widodo, who then issued Government Regulation (PP) No. 43/2014 on the Implementation of UU Desa and PP No. 60/2014 on the so-called Village Funds (Dana Desa). The latter is one of the most important components of UU Desa as it carries with it immense political consequences.
Read MoreOver the weekend, Sutiyoso, who is nominated by President Joko “Jokowi” Widodo for the position of Chief of the National Intelligence Agency (BIN), made the announcement that Isran Noor will replace him as the next Chairman of the Indonesian Justice & Unity Party (PKPI). The PKPI is a member of Jokowi-Kalla’s ruling coalition. So it’s interesting to point out that Isran, who is a former regent of East Kutai, supported Jokowi’s rival Prabowo Subianto in last’s year presidential election.
Read MoreThe Bill to amend the Law on Broadcasting, and the Bill on the Criminal Code are two of the 37 bills listed in the 2015 Priority Legislation (Prolegnas Prioritas). Discussion on both bills have made progress. The details are as follows:
Read MoreThe National Police’s Criminal Investigation Division (Bareskrim Polri) questioned former Energy and Mineral Resources (ESDM) Minister Purnomo Yusgiantoro on Wednesday (June 17) as a witness in the suspected corruption in PT Trans Pacific Petrochemical Indotama (TPPI). Purnomo’s questioning somehow escaped mainstream media’s attention. We wouldn’t have known that Purnomo was questioned if it weren’t for Brig. Gen. Victor Edison Simanjuntak of Bareskrim Polri.
Read MoreThe Finance Ministry expects national economic growth to be limited in the second quarter of this year, but with the expectation of improvement in the upcoming quarters. Export is expected to remain under pressure, along with the global economic development and low commodity prices. Investment is also predicted to have a limited growth in line with low import of capital goods and the slower-than-expected infrastructure projects run-up.
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Would be too naive to focus on competition between China and Japan in Indonesia’s infrastructure projects. Never underestimate the South Koreans! Two South Korean companies, Samsung C&T Corp and Lotte E&C Co Ltd, for example, have been awarded EPC contract for the expansion of Grati combined cycle power plant in East Java few days ago.
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Six groups are reportedly competing to build the giant Java-5 power plant with design capacity of 2×1000 MW. This is one of major projects under the ambitious 35,000 MW program launched by President Jokowi few months back.
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