Regulation No. 24 of 2018 on Online Single Submission

The Indonesian Government has issued Regulation No. 24 of 2018 (“GR 24/2018”), which introduces the Online Single Submission (“OSS”) system.

Strengthening the Supervision of e-Money

Bank Indonesia has issued Regulation No. 20/6/PBI/2018 on Electronic Money (e-Money) (“PBI 20/6”) which revokes the previous regulation on e-Money.

AGMS and LKPM Reports

We would like to remind you of the Annual General Meeting of Shareholders (“AGMS”) that according to Article 78 (2) of the Company Law, must be held no later than 6 (six) months after the end of each financial year.

INDONESIA SIMPLIFIES THE HIRING OF FOREIGN MANPOWER

On 29 March 2018, President Joko Widodo issued Presidential Regulation Number 20 of 2018 on Foreign Manpower Utilization (“Presidential Reg 20/2018”). Presidential Reg 20/2018 aims to support the national economy and the expansion of employment opportunities through increased foreign investment and is part of President Joko Widodo’s current economic reform process.

NEW COAL PRICE CAP FOR POWER GENERATION

Recently, the Minister of Energy and Mineral Resources (“MEMR”) issued 2 (two) decrees on the price of coal, MEMR Decree No. 1395 K/30/MEM/2018 dated 9 March 2018 on The Coal Price for Power Generation for the Public Interest (“MEMR 1395/2018”) later amended by MEMR Decree No. 1410 K/30/MEM/2018 dated 12 March 2018 (“MEMR 1410/2018”) as an implementation of Government Regulation No. 8 of 2018 (“GR 8/2018”) and MEMR Regulation No. 19 of 2018 (“MEMR 19/2018”) which provides a legal basis for setting the maximum price for coal used for the generation of electric power for the public interest. In short, MEMR 1395/2018 and MEMR 1410/2018 are intended to address the risk of coal price fluctuations due to the recent increase in the market price for coal for the electric power industry for the public interest by determining the sale price of coal for generating electric power for the public interest as part of the domestic market obligation (“DMO”).