On March 13, 2014, Indonesia's Ministry of Forestry ("MOF") issued MOF Regulation No. P.16/Menhut-II.2014 (Reg P.16/2014), which sets out the currently applicable requirements and procedures for the issuing of Borrow-Use Permits. The new regulation replaces but does not fundamentally alter the previous regulation governing Borrow-Use Permits.
Michael S. Carl, a foreign legal advisor at SSEK Indonesian Legal Consultants, spoke on Friday, June 6, at the Petromindo mine-mouth power plant workshop in Jakarta. Michael discussed the legal implications of Ministry of Energy and Mineral Resources Regulation No. 10/2014 on security of coal supply and the pricing of coal for mine-mouth power plants in Indonesia.
Ira A. Eddymurthy, a founding partner of SSEK Legal Consultants, has been recognized by Who's Who Legal as one of Indonesia's leading lawyers in the areas of mergers and acquisitions, banking and capital markets. Ira is lauded by clients for her sophisticated knowledge of Indonesian law and her comprehensive knowledge and understanding of the commercial aims of clients.
SSEK has advised GlaxoSmithKline on a three-part deal that sees the pharmaceutical company take full control of its Indonesian Consumer Healthcare business, while divesting a non-core brand and a manufacturing facility in the country.
Indonesia's oil and gas sector is regulated mainly by Law No. 22 of 2001 regarding Oil and Natural Gas (the "Oil and Gas Law"). The Oil and Gas Law grants the Government the exclusive rights to oil and gas exploitation and requires all private companies wishing to explore for and exploit oil and gas resources to enter into cooperation contracts, based upon a production sharing scheme with the Government.
SSEK has been recognized for its work on the BlueScope Steel and Nippon Steel joint venture, which was named a 2013 Deal of the Year by Asian-MENA Counsel. This US$1.36 billion deal involved a tie-up between Australia's BlueScope Steel and Japan's Nippon Steel.
SSEK celebrated World Book Day on April 23 by organizing an office book drive, with the collected books donated to worthy organizations that are helping to spread the joy of reading in Jakarta. Thanks to everyone at SSEK, we were able to collect close to 250 books.
Asian Legal Business, which is owned by Thomson Reuters and is a leading legal publication in Asia-Pacific and the Middle East, recently published a report on the outlook for Indonesia's capital markets. SSEK partner Fahrul S. Yusuf was quoted extensively in the report. Fahrul says that Indonesia requires deeper capital markets for greater stability.