Chambers Asia Pacific (2019)

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 - Banking & Finance (Band 3), Capital Markets (Band 1), Corporate/M&A (Band 1), Projects & Energy (Band 2)
Ahmad Maulana - Employment (Band 2)
Bono Adji - Capital Markets (Band 1), Corporate/M&A (Band 1)
Chandra M Hamzah - Dispute Resolution (Recognised Practitioner) 
Eko Basyuni - Corporate/M&A (Band 4)
Eri Hertiawan - Dispute Resolution (Band 2)
Ibrahim Sjarief Assegaf - Banking & Finance (Band 3)
Putu Suryastuti - Capital Markets (Band 2)
Tunggul Utomo - Capital Markets (Up and Coming)
Yanu Wiriasmoko - Banking & Finance (Recognised Practitioner) 
Yogi Sudrajat Marsono - Real Estate (Recognised Practitioner)

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. Strong client base includes government entities, private equity firms and overseas banks. Also well placed to handle project and infrastructure finance, as well as restructuring and insolvency mandates.

Sources acknowledge the team's business acumen and tailored advice. One client points out: "They are a full-service law firm and the quality of their advice is consistent throughout the different practice areas. The pieces of advice they give are commercial and measured and they really understand the risks of foreign lenders investing in Indonesia."

"The firm has a solid team which is always ready to provide services any time with smart solutions and the firm has an efficient, expert and experienced team," another source remarks.

Work highlights
Assisted Bank Mandiri with its IDR2 trillion loan facility to Indoritel Makmur Internasional.

Acted for DBS Bank on its USD73.6 million financing to ICBC Leasing for the acquisition of two aircraft on lease to Garuda Indonesia.

Notable practitioners
Ahmad Fikri Assegaf continues to represent clients in a wide range of banking and finance matters, with a focus on debt restructuring, project finance and bond issuances. He is additionally known for his expertise in Islamic finance and one client points out: "He is well known in the market as a capital markets and banking and finance lawyer."

Ibrahim Sjarief Assegaf has a strong track record advising clients across debt restructurings, project finance and syndicated loans, as well as insolvency issues. One client explains: "He is a banking practitioner who knows about the insolvency side. He is very commercial and strategically savvy."

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 telecommunications sectors. Also adept at advising on Shari'a-compliant sovereign debt issuances.

Interviewees praise the team's client care, remarking: "It is one of the best local law firms in Indonesia – pragmatic in advising clients and accommodative in negotiations."

"They deeply understand the reasons behind and the objective of capital market regulations," another commentator notes.

Work highlights
Acted for Medco Energi on its USD500 million 6.75% senior notes issuance due 2025 in reliance of Regulation 144A and Regulation S of the United States Securities Act.

Acted as issuer's counsel for Bank Tabungan Pensiunan Nasional Syariah on its IPO, including assisting in the determination of the appropriate offering structure and drafting the prospectus and underwriting agreement.

Notable practitioners
Bono Adji is held in high regard for his ECM and DCM expertise, as well as his ability to advise clients on refinancings and IPOs. One source remarks: "He is capable, provides a quick response and is a most reliable person."

The "highly regarded" Ahmad Fikri Assegaf is noted for his adept representation of both listed companies and the Government of Indonesia. In particular, he possesses expertise in handling bond issuances and IPOs.

Putu Suryastuti is best known in the market for her exceptionally broad capital markets practice, with a particular focus on IPOs and bond issuances. She regularly assists clients from the telecommunications, aerospace and manufacturing sectors.

Tunggul Utomo has a growing reputation in the capital markets space, with an excellent track record in bond issuances and IPOs. He frequently acts for clients in the financial services, oil and gas and telecommunications sectors.

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. Also advises on merger control matters.

Sources emphasise the firm's knowledge of the market and the law, with one client commenting: "They provide the client with a good picture of the economic market and legal point of view. They also have a good network within the antitrust community and academia."

Work highlights
Assisted Nokia in preparing and submitting a post-merger notification to the KPPU relating to its acquisition of Comptel.

Advised Indonesia Entertainment Group on post-completion notification matters relating to its acquisition of Sinemart Indonesia.

Notable practitioners
Head of department Chandra Hamzah is the main contact for clients.


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. Able to co-ordinate with its tax and customs team in order to support clients throughout transactions.

Impressed sources report: "The firm shows a high level of knowledge and they are able to complete difficult tasks in the time period provided," adding: "The firm is one of the top-tier law firms; they are very thorough and can provide smart solutions."

The team stands out for its "breadth and depth in various sectors," according to market commentators.

Work highlights
Assisted Kohlberg Kravis Roberts with a USD75 million acquisition of a 12.64% stake in IndoSari Roti.

Acted for Nirvana Wastu Pratama on the share acquisition of Gorontalo Mall shopping centre and Maqna Hotel Gorontalo.

Notable practitioners
"Respected lawyer" Bono Adji is highly regarded for his experience in acting for multinational corporations on the full spectrum of corporate and M&A deals. He is additionally noted for his work on foreign direct investment and capital market matters.

Ahmad Fikri Assegaf is a distinguished practitioner who is praised by clients for being "practical, commercial and responsive." He regularly assists international and Indonesian clients with complex, multi-jurisdictional transactions.

Head of department Eko Basyuni is well known for his experience in M&A matters, including joint ventures and share acquisitions. Clients benefit from his expertise in a wide range of areas, including the manufacturing, telecommunications and financial services 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. Also active in complex arbitration, frequently appearing in both local and foreign-based proceedings.

The team is renowned for its tactical nous, with one client commending its "excellent strategic and conceptual approach."

Other interviewees are equally impressed, reporting that "they are one of the best law firms in Indonesia."

Work highlights
Advised Alpen Food Industry on a mediation process against a trade union, relating to a dispute over temporary contracts.

Represented the President of the Republic of Indonesia as co-defendant in a class action lawsuit brought by 132 households, arising from expropriation for an infrastructure project in Jakarta.

Notable practitioners
Eri Hertiawan is adept at handling disputes in a range of areas, including commercial, criminal, banking and competition law. He is also frequently involved in assisting clients with contentious matters in the aviation industry. Clients highlight him as "an expert who is very informative and detailed in providing information."


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. Able to draw on the firm's expertise in M&A to advise on transactional employment matters.

The firm is singled out for its responsiveness and solid expertise, with one client reporting: "Their response time is very fast and the quality of the work is good."

Additional sources are also impressed by the team, describing its lawyers as "resourceful and diligent."

Work highlights
Advised Alpen Food Industry on trade union negotiations and mediation proceedings in relation to a strike by 664 workers over the provision of temporary contracts.

Notable practitioners
Ahmad Maulana is credited for his experience as a litigator and ability to assist clients with complex employment law disputes. He acts on the full gamut of employment-related matters, including internal investigations, fraud and union issues. Interviewees comment: "His advice is always based on the regulations, yet he also considers practical aspects. He does not merely quote regulations, but provides solutions to clients." Additional sources describe him as "very calm, confident and clear."

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. Active in foreign direct investment projects.

The team is singled out for its high-quality work, with one client remarking: "They provide exceptional legal services."

Work highlights
Acted for Asian Development Bank on a project financing of approximately USD120.7 million in relation to the development of the Tolo wind power plant by Energi Bayu Jeneponto.

Assisted Star Energy Geothermal with the issuance of USD580 million 6.75% senior secured notes due 2033.

Notable practitioners
Ahmad Fikri Assegaf possesses over 20 years of experience in finance, capital markets and infrastructure. His areas of focus include renewable energy projects.


What the team is known for
Well-reputed team routinely 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. Also demonstrates expertise in data privacy, data protection and cybersecurity matters.

Sources praise the firm for its expertise and client service, with one client reporting: "The firm is highly responsive, reliable and specialised in a number of areas," adding: "It is the most reliable firm for telecoms and media law in Indonesia."

Work highlights
Advised Orient Finance on its joint venture with an Indonesian company to establish a company which will operate in technology-based financial institutions, including peer-to-peer lending.

Advised SEA in connection with the US IPO of its Indonesian assets. Work included conducting registration statement due diligence, and reviewing and commenting on the prospectus and underwriting agreement.

Notable practitioners
Co-heads of department Zacky Zainal Husein and Bono Daru Adji are key contacts at the firm.