Chambers Asia-Pacific (2018)
Banking & Finance - Band 2
Capital Markets - Band 1
Competition and Antitrust - Band 1
Corporate/M&A - Band 1
Dispute Resolution - Band 1
Employment - Band 2
Projects & Energy - Band 2
Real Estate - Band 2
Telecommunications - Band 1
Ranked Lawyers:
Ahmad Fikri Assegaf (Band 3) - Banking & Finance, Capital Markets, Corporate/M&A, Projects & Energy
Ahmad Maulana (Recognised Practitioner) - Employment
Bono Adji (Band 1) - Capital Markets, Corporate/M&A
Chandra M Hamzah (Recognised Practitioner) - Dispute Resolution
Eko Basyuni (Band 4) - Corporate/M&A
Eri Hertiawan (Band 2) - Dispute Resolution
Ibrahim Sjarief Assegaf (Band 3) - Banking & Finance
Putu Suryastuti (Band 2) - Capital Markets
Rikrik Rizkiyana (Band 1) - Competition and Antitrust
Tunggul Utomo (Up and Coming) - Capital Markets
Yanu Wiriasmoko (Recognised Practitioner) - Banking & Finance
Yogi Sudrajat Marsono (Recognised Practitioner) - Real Estate
Banking & Finance
What the team is known for
Notable full-service firm, regularly advising borrowers and lenders on a broad range of conventional and Shari'a-compliant deals. Assists clients with acquisition, leveraged and structured financings, regularly assisting leading Indonesian and overseas groups. Also well placed to handle project and infrastructure finance, as well as restructuring and insolvency mandates.
Strengths
The team's thorough approach is appreciated by clients, who compliment its "strong legal knowledge and deep analysis."
Work highlights
Advised Barito Pacific on the negotiation of a USD250 million loan from Bangkok Bank.
Advised Indonesia Infrastructure Finance on its receipt of a USD200 million loan. The loan was originally granted by the World Bank Group to the Indonesian government, before being handed on to Saran Multi Infrastruktur and then to the client.
Notable practitioners
Ahmad Fikri Assegaf has extensive knowledge of debt restructuring, project finance and Shari'a-compliant deals, regularly advising notable Indonesian and international clients. He was recently involved in advising Bank CIMB Niaga on a loan of approximately USD113 million to Net Mediatama Televisi.
Ibrahim Sjarief Assegaf maintains a busy practice, ably assisting clients with bilateral and syndicated loans, debt restructuring and project finance. He advised Coöperatieve Rabobank on a corporate guarantee provided by Japfa relating to the client's loan from Nusa Prima Logistik.
Capital Markets
What the team is known for
Offers a full suite of services, including advising on convertible and exchangeable bonds, IPOs and private placements. Particularly active for issuers, advising several of Indonesia's largest corporates in the energy, manufacturing, real estate and agribusiness sectors.
Strengths
One impressed source commends the firm's "ability to meet every deadline and solve our problems."
Another interviewee adds that "the firm meets all client needs" and has "lots of resources and very well-known partners."
Work highlights
Acted for Sri Rejeki Isman and its subsidiary Sinar Pantja as guarantors to a USD350 million 8.25% senior notes issuance by Golden Legacy.
Advised Credit Suisse as the initial purchaser of USD150 million in 5.5% senior notes issued by Japfa Comfeed Indonesia.
Notable practitioners
Bono Adji wins acclaim among market sources for his ECM and DCM expertise, with clients attesting that he is "definitely a problem solver and a great communicator." He was involved in assisting Indonesia Infrastructure Finance with a IDR1.5 trillion bond issuance.
Ahmad Fikri Assegaf maintains a market-leading position, frequently advising top-drawer clients on public and private offerings. Clients laud him as "one of the most experienced lawyers in this sphere." He played a key part in advising Japfa Comfeed Indonesia on the first tranche of its IDR1 trillion shelf offering.
Putu Suryastuti is admired by clients as a "very helpful and hard-working" lawyer who is "always accessible 24/7." She is highly active in the capital markets space, recently playing a key role in advising Alam Sutera Realty in connection with an issuance of USD245 million in 6.625% senior notes by Alam Synergy.
Tunggul Utomo is highly active in this space, regularly acting for issuers and underwriters on both DCM and ECM issuances. He represented Medco Energi Internasional in relation to a tranche of its shelf offering, in a deal worth IDR1.5 trillion.
Competition and Antitrust
What the team is known for
Possesses expertise across a wide range of competition and antitrust work, including representing clients in major cartel investigations before the Indonesian Competition Commission (KPPU). Also handles abuse of dominance and price-fixing cases, alongside merger notifications and competition audits. Entrusted by multinational and domestic clients from the automotive, technology, finance and manufacturing sectors, among others.
Strengths
Interviewees appreciate the team's collaborative approach to dealing with clients, describing the lawyers as "co-operative and understanding of what we need."
Work highlights
Advised Nissan Motors on its post-merger notification to the KPPU, concerning its acquisition of Mitsubishi Motors.
Acted for Technip FMC on its post-merger notification to the KPPU, linked to the merging of its operations with Technip S.A.
Notable practitioners
Rikrik Rizkiyana is renowned as a leading competition expert in Indonesia, regularly handling cartel investigations, post-merger filings and compliance training. Market commentators laud him as "pretty much hands down the go-to guy, particularly on contentious matters." He assisted MUL Asset Finance with its post-merger notification to the KPPU, arising from its acquisition of shares in Beacon Intermodal Leasing.
Corporate/M&A
What the team is known for
Frequently cited as a market-leading firm in this area, owing to its activity on some of the largest and most complex M&A transactions in the region. Advises major Indonesian clients and prominent international companies on joint ventures, foreign direct investment and private equity. Valued also for its work in real estate, particularly on hotel development deals and lease agreements.
Strengths
The firm is recommended by a client for its extensive network of contacts and turnaround times: "They possess experience in M&A, they have a vast network, which is useful, and its individuals respond quickly."
Another source remarks: "They are very professional in handling queries and very prudent in giving advice."
Work highlights
Advised Warburg Pincus on its investment in Go-Jek, which after the last round of fund-raising was valued at USD1.3 billion.
Counselled Tokopedia on its sale of shares to private equity investors as part of its fund-raising round.
Notable practitioners
"Brilliantly talented and very professional," Bono Adji is accredited for his corporate and M&A practice, with a strong focus on representing companies in large investments. His work of late includes advising Saratoga Investama Sedaya and its local subsidiary on their IDR450 billion investment in Famon Awal Bros Sedaya, a holding company that operates hospitals throughout the country. A client also expresses praise for his responsiveness to queries: "He was responsive to our needs and questions."
Ahmad Fikri Assegaf is renowned among clients and peers for his seniority in cross-border corporate and M&A matters, one source saying he maintains a "sound reputation and is a problem solver." In one work highlight, he co-led the team that advised Holcim Indonesia on the USD165 million acquisition of the entire share capital of Lafarge Cement Indonesia and the post-acquisition restructuring of Lafarge Group in Indonesia.
Head of department Eko Basyuni is recognised for his work across a variety of practice areas, with a particular focus on banking, finance and M&A. Also noted for his transactional work for clients in the financial services and telecoms sectors.
Dispute Resolution
What the team is known for
Maintains an excellent reputation for handling a diverse range of contentious matters, from commercial disputes to competition litigation. Areas of focus include employment law, corporate fraud and real estate. Clients further benefit from the firm's membership of the Rajah & Tann Asia Network.
Strengths
Interviewees note the firm's "formidable" strength in this area, highlighting its expert handling of competition disputes as a key strength.
Work highlights
Successfully defended Coca-Cola Bottling Indonesia before the District and High Courts against charges of extracting ground water without a permit.
Represented Indosat in a case against the Ministry of Telecommunications and Informatics regarding the wrongful issuance of a fine for unpaid spectrum frequency usage charges.
Notable practitioners
Eri Hertiawan is joint head of the firm's dispute resolution practice and is well placed to advise on a range of commercial disputes. Sources are quick to highlight his expert knowledge of contentious antitrust matters. In a recent highlight, he represented Bermuda-based technology company BluTether in a USD35 billion arbitration case against two Indonesian companies for breach of contract.
Employment
What the team is known for
Recognised for advising an impressive range of domestic and foreign clients on a variety of employment issues, including unfair dismissals, fraud and retrenchment. Additionally offers expertise in outsourcing and expatriate matters. Also assists national and multinational clients in cases concerning migrant-worker permit disputes.
Strengths
The team is appreciated for the quality of service it provides. One client says: "My overall impression of the team is very nice and I'm comfortable with the legal services they have provided to us."
The team is identified by market sources as being "highly rated and attracting many international companies."
Notable practitioners
Head of department Ahmad Maulana is a key contact for clients.
Projects & Energy
What the team is known for
Noted for advising some of the region's largest energy and resources companies, including government entities and export credit agencies. Proficient in handling project-related transactions, financings and development in the renewable energy space, as well as rail and telecommunications infrastructure developments. Frequently involved in cross-border matters for both lenders and project companies.
Work highlights
Acted for Korea Development Bank, Société Générale and Sumitomo Mitsui Banking on the USD147.5 million financing of a river hydropower project in North Sumatra.
Advised Penjaminan Infrastruktur Indonesia on the USD1 billion Palapa Ring Project, aiming to construct a telecommunications fibre optic cable across Indonesia.
Notable practitioners
Ahmad Fikri Assegaf is adept in handling project finance and M&A deals, with notable experience in the renewable energy and infrastructure sectors. He was involved in advising MRT Jakarta on the development of Jakarta's underground railway network, including advice on financing aspects, procurement agreements and regulatory issues.
Real Estate
Analysis pending
Telecommunications
What the team is known for
Thriving team that has added a number of blue-chip clients to its roster, attracting recognition for its growing bench strength. Instructed by leading telecommunications companies on commercial and regulatory mandates in this space. Often advises on internet connectivity, mobile applications, e-commerce and data centre establishment matters.
Work highlights
Acted for Warburg Pincus on its USD556.6 million private equity investments into Go-Jek.
Assisted Tokopedia on fund-raising for its online retail operations, which was achieved via the sale of shares to private equity investors.
Notable practitioners
Co-heads of department Zacky Husein and Bono Adji are key points of contact for clients.