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Navigating Corporate Governance and Risk Management Requirements in the BUMN Omnibus Regulation
As discussed in our previous Client Alert, the Minister of State-Owned Enterprises (“Minister”) has issued the BUMN Omnibus Regulations at the end of March 2023, which consolidated and integrated over 45 ministry-level regulations. The BUMN Omnibus Regulations comprised of three ministry-level regulations:
- Minister Regulation No. PER-1/MBU/01/2023 on Direct Appointments and Environmental Social Responsibility Programs of State-Owned Enterprises;
- Minister Regulation No. PER-2/MBU/02/2023 on Guidelines for the Governance and Significant Corporate Activities of State-Owned Enterprises (“Regulation 2/2023”); and
- Minister Regulation No. PER-3/MBU/03/2023 on State-Owned Enterprise Organisation and Human Resources.
This article will focus on Regulation 2/2023, which repealed and replaced 20 Minister Regulations on corporate governance of state-owned enterprises. Under Regulation 2/2023, the government detailed the provisions on good corporate governance, risk management, assessment of a state-owned enterprises’ health level, and goods and services procurement.
Regional Competition Conference 2023 Podcast Series – Panel 5
We are excited to bring you the grand finale of our thought-provoking discussions from our Regional Competition Conference!
In the rapidly evolving landscape shaped by technology and the post-COVID 19 trade environment, our final panel, "Ecommerce meets the reality of moving goods across borders – When Trade Moves from Physical to the E-world, what are the Trade, Customs, Consumer Protection and Other Regulatory Issues to deal with?," delves into the intricate challenges businesses face when navigating the intersection of e-commerce and traditional trade practices.
- How is customs declaration managed?
- What are the export control implications especially as regards intangible technology transfer?
The panel provides practical guidance in addressing these questions and more, sharing real cases to guide businesses on their journey.
As we wrap up this podcast series, we extend our heartfelt gratitude for your continued support. We look forward to welcoming you at our Regional Competition Conference next year!
Click to listen to this podcast.
The Rajah & Tann Asia Competition & Antitrust team remains engaged and up to date with the ever-evolving landscape of competition law in the region. Please reach out to us if you wish to further discuss these developments.
Regional Competition Conference 2023 Podcast Series – Panel 4
Sustainability and ESG have taken over the world like a storm. They are important considerations for business, even as countries tax carbon emissions. Even more importantly, supply chain disruptions have a direct impact on the production lines as well as on exports.
Titled “Sustainability and ESG – When trade flows and supply chains are impacted given ESG concerns, how does one work around this?”, episode 4 of our podcast series takes a pragmatic approach, examining critical questions that are reshaping industries:
- What must businesses do differently?
- What is the potential competition law impact as businesses seek to comply with sustainability requirements?
- Can they collaborate to improve on sustainability in the industry?
- What if a trade association recommends certain steps and all businesses follow?
- What is the impact of changing laws in the EU, US, UK and even Singapore have on trade in the region?
This episode offers more than insights; it provides a practical examination of the challenges and opportunities businesses encounter in the intricate tapestry of global trade influenced by ESG concerns.
Click to listen to this podcast.
The Rajah & Tann Asia Competition & Antitrust team remains engaged and up to date with the ever-evolving landscape of competition law in the region. Please reach out to us if you wish to further discuss these developments.