Following up on the government’s move to confirm the cap on administrative fines for competition law violations, the KPPU has issued an implementing technical regulation on administrative fines. While this regulation (KPPU Regulation No. 2 of 2021 on the Guidelines for Imposing Administrative Fines) was enacted, and became effective, on 31 May 2021, it only recently became available to the public.
As discussed in our previous update on this topic (click here to read), the new administrative fine cap is tied to either 50% of the relevant company's net profit or 10% of its turnover. The new regulation contains more detailed provisions on the calculation and payment mechanism, including payment by way of instalment. The regulation also emphasises the requirement for the reported party to deposit a bank guarantee when filing an appeal against the KPPU decisions.
We are pleased to bring you the 2021 Regional Guide to Lending and Taking Security in Southeast Asia ("Guide"). This Guide provides a useful overview of key legal and regulatory requirements concerning lending and taking security in Southeast Asia, focusing on Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Leveraging on our experience in carrying out cross-border transactions through our Rajah & Tann Asia network, the Guide gives an overview of the domestic laws across the region and addresses typical key issues and considerations relating to lending and taking security.
Rajah & Tann Asia's Banking and Finance team comes highly recommended by industry commentators and international clients, including multi-national corporations who rely on Rajah & Tann Asia's experienced Banking and Finance practice to advise them on all aspects on finance transactions, including cross-border arrangements. Our strength lies in offering insightful and comprehensive legal advice made available through our Rajah & Tann Asia network of offices, including offices in Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.