Bukit Darmo v. Wijaya Karya
PT Bukit Darmo Property Tbk (BKDP) is reportedly suing a number of arbiters of the Arbiter Assembly of the Indonesian National Arbitration Board (BANI), who examined the case BKDP filed against PT Wijaya Karya (Persero) Tbk (WIKA). The arbiters question allegedly handled the case negligently and resulted in losses for BKDP.
The Seventh Economic Policy Package (Part II)
The Seventh Economic Policy Package (the Seventh Package) contains policies that would benefit labor-intensive businesses and informal trade. Let’s take a look at the regulatory side of these new policies.
The Ministry of Energy and Mineral Resources & the Economic Policy Package
Of the six economic policy packages that the Government of Indonesia have announced, the deregulation program assigned to the Ministry of Energy and Mineral Resources (Kemen-ESDM) is among the most diverse in nature. The Kemen-ESDM received assignments in three policy packages, but of the dozens of policies the Ministry has to deregulate, only one concerns the mineral/mining sector.
The Verdict for Syamsir Yusfan
On December 3, 2015, the Corruption Court of the Central Jakarta District Court found the Registrar of the Medan State Administrative Court (PTUN) Syamsir Yusfan guilty and sentenced him to three years imprisonment. The penalty given to Syamsir is lighter than demanded by the Public Prosecutor, i.e., four years and six month imprisonment and a fine of Rp200 million subsidiary six months imprisonment.
Day 2 of Novanto Hearing: Counting Days
Maroef Sjamsoeddin, CEO of Freeport Indonesia, appeared before the Ethics Council of the House of Representatives (MKD DPR) Thursday (Dec 3). His testimony gears up political manoeuvres to unseat House Speaker Setya Novanto. Maroef shared public opinion that Novanto and his friend Mohammad Reza Chalid (businessman) tried to broker a deal (extension of Freeport’s contract years before expiry in exchange of some benefits, including the hydropower project).
Updates on the National Legislation Program (Part II)
On November 30, 2015 the Government and the House Commission XI of the House of Representatives (DPR) agreed to start their discussion on the Financial System Safety Net Bill (RUU JPSK). The Government had identified 409 points as a part of the List of Problems (DIM). Of these number, as many as 70 DIM points have been declared resolved, 23 DIM remain a problem, and 315 DIM points remain highly problematic.
The Bank DKI Case
Eight months have passed since the High Prosecutor of Jakarta (Kejati Jakarta) began the investigation into the Rp230 billion credit facility Bank DKI gave to PT Likotama Harum and PT Mangkubuana Hutama Jaya. On December 2, 2015, the Kejati Jakarta finally named 3 suspects.
Time to Arrest Mohammad Reza Chalid?
After a heated debate, Ethics Council has finally aired full conversation between Setya Novanto (House Speaker), Mohammad Reza Chalid (oil trader), and Maroef Sjamsoeddin (CEO of Freeport Indonesia) Wednesday night despite opposition from members of Golkar Party and Gerindra Party. Full transcript revealed even more interesting datapoint about what Reza might have done to staff of Luhut Pandjaitan (then chief of staff of the presidential office).
Day 1 of Novanto Hearing: Poor Understanding about Ethics
Sudirman Said, energy and mineral resources, has been examined by Ethics Council of the House of Representatives (MKD DPR) on Wednesday (December 2nd). Following the hearing and questions raised by council members, we can safely conclude that all of them have poor understanding and consideration about ethical values and laws.
Update on the 2015 Capital Injection
The Government is reportedly beginning the process of capital injection (PMN) to seven State-Owned Enterprises (BUMN). The PMN funds have already been allocated as a part of the 2015 amended budget (APBN-P), but the process were held back due to regulatory hurdels. The government needed specific government regulations to authorize said capital injections, and the draft (RPP) of said government regulations have reportedly entered the stage of harmonization—cross checking process with other regulations to avoid overlaps and contradictions—and prepped for enactment before the end of this year.