Chambers Asia Pacific (2015)
Banking & Finance - Band 1
Ranked Lawyers: Ahmad Fikri Assegaf - Band 1, Ibrahim Sjarief Assegaf - Up and Coming
Basic facts about the department
- 2 partners
- 23 other qualified lawyers
What the team is known for
Impressive reputation for financing work, frequently acting on structured, acquisition and property finance. Skilled in handling syndicated loans. Sophisticated capabilities for financing in the coal, oil and gas sectors.
Strengths (Quotes mainly from clients)
"The firm's advice greatly helps us in securing the required funds in a timely manner."
"One of my go-to firms for banking and finance."
Work highlights
Advised Garuda Indonesia regarding a multicurrency term loan facility worth USD200 million from a syndicate of domestic banks.
Acted for the Reswara Group of coal mining companies as borrower of a term loan facility worth USD150 million from Qatar National Bank, Bank QNB Kesawan and Indonesia Eximbank.
Notable practitioners
Managing partner Ahmad Fikri Assegaf is identified as "a good banking lawyer with a broad practice." He has developed much expertise over his many years acting for domestic and international borrower and lender clients. He is also identified for his expertise in restructuring.
Ibrahim Sjarief Assegaf has an extensive knowledge base and advises on a range of complex financings. Recent work includes acting for the Reswara Group in its receipt of a USD150 million loan.
Significant clients
HSBC, Standard Chartered, Bank Mandiri, Deutsche Bank, Credit Suisse.
Capital Markets - Band 1
Ranked Lawyers: Ahmad Fikri Assegaf - Band 1, Bono Adji - Band 1, Putu Saryastuti - Up and Coming
Basic facts about the department
- 3 partners
What the team is known for
Superb record working on a variety of transactions, including various debt and equity offerings. Predominantly assists on Indonesia Stock Exchange listings, and commands an excellent reputation amongst clients and peers.
Strengths (Quotes mainly from clients)
"We are very happy with services they have provided."
"They are very strong in capital markets."
Work highlights
Advised Saratoga Investama Sedaya in a Regulation S IPO on the Indonesia Stock Exchange, valued at approximately USD131 million.
Acted as local counsel to the joint lead managers, Citibank, Deutsche Bank (Singapore branch) and Standard Chartered Bank, on as in the listing of a USD1.5 billion sukuk on the Singapore Stock Exchange.
Notable practitioners
Ahmad Fikri Assegaf is lauded by one peer as "an outstanding partner at the firm." He earns consistent praise for his corporate and capital markets practices. Recent work highlights include advising Chandra Asri Petrochemical on its IDR1.4 trillion rights issue on the Indonesia Stock Exchange.
Bono Adji is recognised by sources as an expert in this area. One satisfied client says: "He took the time to understand our concerns and is quite creative with ideas." He represented Mitra Pinasthika Mustika in its USD131 million IPO.
The "tireless" Putu Suryastuti exhibits "in-depth knowledge of the capital markets regulatory process," and has worked extensively in this area in recent years. She was part of the team which assisted the international selling agents in the USD87 million IPO of Sawit Sumbermas Sarana.
Significant clients
Bank Mandiri, Standard Chartered Bank, RBS, BNP Paribas, Garuda Indonesia.
Corporate/M&A - Band 1
Ranked Lawyers: Ahmad Fikri Assegaf - Band 1, Bono Adji - Band 3, Eko Basyuni - Up and Coming
Basic facts about the department
- 3 partners
What the team is known for
Excellent reputation as a market-leading firm representing major Indonesian clients, predominantly advising on acquisitions and the creation of joint ventures. Also offers expert advice relating to corporate regulatory frameworks.
Strengths (Quotes mainly from clients)
"They have a very good commercial background for M&A transactions."
"A very good understanding of corporate issues, and are very up to date on any new developments."
"One of the best local counsel we've come across."
Work highlights
Advised XL Axiata on its 100% acquisition of the share capital of AXIS Telekom Indonesia from Saudi Telecom. The deal was valued at USD865 million.
Represented Chandra Asri Petrochemical in a joint venture agreement with Compagnie Financière Michelin in order to develop a synthetic rubber plant, a USD435 million matter.
Advising Multimedia Nusantara on a proposed joint venture, in which it would be majority stakeholder, with Telstra.
Notable practitioners
Ahmad Fikri Assegaf is an acclaimed practitioner commended for his intelligence and good working relationship with major Indonesian conglomerates. He recently represented Chandra Asri Petrochemical in a USD435 million rubber plant joint venture.
Bono Adji is described by one source as "very professional and a pleasure to deal with," while another says that he "explains things well, even though Indonesian regulations can be unclear." He recently counselled XL Axiata in its acquisition of the entire share capital of AXIS.
One interviewee highlighted Eko Basyuni as being "knowledgeable on issues related to M&A transactions." He has been advising Multimedia Nusantara on a proposed joint venture with Telstra.
Significant clients
Bank Mandiri, Trakindo Utama, HSBC, Holcim Indonesia, Garuda Indonesia.
Dispute Resolution - Band 2
Ranked lawyer: Eri Hertiawan - Band 2
Basic facts about the department
- 6 partners
- 14 other qualified lawyers
What the team is known for
Active on the full spectrum of commercial disputes and highly regarded for litigation relating to the mining and aviation sectors. Noted also for matters involving competition law, representing appellants in front of the Indonesian competition authority. Adept at handling arbitrations in addition.
Strengths (Quotes mainly from clients)
"They really understand the problems we face and the services they have provided have been excellent."
"It's rare that a firm offers the corporate side and dispute resolution - the 'marriage and divorce'! It is part of their strength."
Work highlights
Acted for Petronas Niaga following a suit filed by an individual who ran one of the corporation's petrol stations, who alleged breach of contract when the corporation ended its licensing agreement with him during the withdrawal of its business in Indonesia.
Successfully represented Garuda Indonesia in the Supreme Court against Hutomo Mandala Putra (Tommy Suharto), who was suing for defamation over some content in Garuda's in-flight magazine. The award of damages of IDR25 billion was quashed by the Supreme Court.
Notable practitioners
Eri Hertiawan is joint head of the firm's litigation and dispute resolution team and gains high praise from clients. One appreciates his "skills in framing an argument in court," which they declare "remarkable." Recent work includes advising NYK Line Indonesia in its appeal against its rejection from registering a vessel with the Directorate General of Martime Transportation.
Significant clients
Vale, Holcim, Indosat, Bariot Group, BMW.
Employment - Band 2
Basic facts about the department
- 1 partner
- 5 other qualified lawyers
What the team is known for
Strong focus on expatriate employment contracts, unfair dismissals, and agency and contract labour cases.
Strengths (Quotes mainly from clients)
"They impress with the depth and breadth of their understanding of local legal issues."
Work highlights
Advised Singapore-based CWT on the employment law aspects of its proposed acquisition of an Indonesian company.
Advised Orchard Link on the preparation of standard employment documents and disciplinary procedures for its Indonesian clients.
Significant clients
Keppel Land, DBS Vickers Securities, HSBC, BMW.
Projects & Energy - Band 3
Ranked Lawyers: Ahmad Fikri Assegaf - Band 2
Basic facts about the department
- 3 partners
- 12 other qualified lawyers
What the team is known for
Particularly well regarded for oil and gas, geothermal and mining sector work, in relation to which it advises on project finance, project development, EPC contracts and upstream M&A. Attracts mandates from a range of clients, such as domestic energy companies, state-owned oil and gas firms, and banks acting as lenders on infrastructure projects.
Work highlights
Advised Pupuk Sirwidjaya Palembang, a state-owned fertiliser producer, in negotiating the EPC contract for a new plant in South Sumatra.
Notable practitioners
Ahmad Fikri AssegafFirst ranked in Chambers Asia-Pacific 2008. leads a number of the firm's most significant matters, ranging from advising banks investing into Indonesia to working with domestic corporates on project development. Market sources observe that when it comes to projects, "he knows his stuff."
Significant clients
IFC, Indonesia Infrastructure Finance, Vale, Berau Coal, Medco Energi.
Real Estate - Band 2
Basic facts about the department
- 1 partner
- 6 other qualified lawyers
What the team is known for
Well regarded for acting on land acquisition and development matters relating to infrastructure projects, particularly those involving the energy and hotel sectors. Skilled at advising on sales, acquisitions, leases and title searches.
Strengths (Quotes mainly from clients)
"The firm has lawyers with expertise in specific areas."
Work highlights
Advised state-owned fertiliser producer Pusri on the real estate aspects of the development of a new fertiliser plant.
Represented Bank Muamalat, a Shari'a-compliant bank, in the USD96.8 million acquisition of a commercial high-rise building in Jakarta.
Notable practitioners
Department head Yogi Marsono is the key contact.
Significant clients
Holcim Indonesia, Petronas Niaga Indonesia, Vale, Chandra Asri, HSBC.
Telecommunications - Band 2
Basic facts about the department
- 2 partners
- 3 other qualified lawyers
What the team is known for
Firm of choice for a number of major domestic telecommunications companies. Growing base of foreign and multinational clients. Skilled at handling M&A transactions in this sector, as well as related disputes and financings. Niche expertise in the domain of electronic money.
Work highlights
Advised XL Axiata, one of Indonesia's largest telecommunications providers, on the USD865 million purchase of Axis from Teleglobal Investments.
Advised Multimedia Nusantara, a subsidiary of Telekomunikasi Indonesia, on its proposed joint venture with Telstra.
Notable practitioners
Bono Adji and Eko Basyuni are key contacts.
Significant clients
Indosat, Telkom, Tower Bersama, Telenor, Jatis Mobile.