Insights / Updates

Stay up to date with legal developments in Indonesia.

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Deadline for Electronic System Operators is Set: 20 July 2022

The Minister of Communications and Information Technology recently clarified the deadline for the mandatory registration requirement that applies to electronic systems operators ("ES"). This deadline was first introduced in Minister of Communications and Information Technology ("Ministry") Regulation No. 5 of 2020, as amended by Minister of Communications and Information Technology Regulation No. 10 of 2021 ("Regulation") (click here to read our previous alert on the Regulation). At that time, however, the Ministry did not set a deadline. Now, with the issuance of the Circular Letter of the Minister of Communications and Information Technology No. 3 of 2022 on the Effective Date of Private ESO Registration ("Circular"), the Ministry has set a clear deadline of 20 July 2022.

Overview of the Procurement Guidelines for Indonesia's New Capital City

As part of the relocation of Indonesia's capital city from DKI Jakarta to Nusantara, President Joko Widodo has issued Presidential Regulation No. 62 of 2022 on the Authorities of the Capital City of Nusantara. This Regulation mandates, among others, the procurement of infrastructure and other goods/services relating to the preparation, construction, and relocation of the capital city.

On 18 May 2022, the government, specifically the National Public Procurement Agency (Lembaga Kebijakan Pengadaan Pemerintah or "LKPP"), followed up this Presidential Regulation by issuing LKPP Regulation No. 5 of 2022 on the Guidelines for the Specific Provision of Infrastructure and Other Procurement of Goods/Services for the Preparation, Construction, and Relocation of the State’s Capital as well as the Administration of Special Regional Government of the Nusantara Capital City ("LKPP Regulation 5/2022").

IDX Enacts Regulation on Free Float for Companies with Multi-Voting Shares

Late last year, both the OJK (Indonesia’s Financial Services Authority) and the Board of Directors of the IDX (Indonesia Stock Exchange) issued regulations in anticipation of the major tech IPOs that were slated to occur in 2022. These two regulations were OJK Regulation No. 22/POJK.04/2021 (“OJK Regulation 22/2021”) on multiple voting rights shares of issuers with innovation and high growth rate (click here to read our previous client alert) and Decree of the Board of Directors of the IDX No. Kep-00101/BEI/12-2021 on Regulation No. I-A on the requirements to list shares in the IDX (“New Listing Regulation”).

Now, as a follow-up and to complement the foregoing regulations, the IDX has issued another decree, namely Decree of the Board of Directors of IDX No. Kep-00014/BEI/03-2022 (“Decree”).