FCPA Compliance Report-Episode 329, James Koukios
Southeast Asia’s electric vehicle (EV) market is booming. Since 2019, EV sales in the key markets of Thailand, Vietnam, and Indonesia have increased exponentially, reaching year-on-year growth rates of 300 – 400% in 2023....more
On May 30, 2024, the Government of Indonesia (the "GOI") enacted Government Regulation No. 25 of 2024 ("GR 25/2024"), amending Government Regulation No. 96 of 2021 on the Implementation of Mineral and Coal Mining Activities...more
As we close out this series on the Bre-X mining scandal, the lessons from this notorious case continue to resonate, especially for today’s compliance professionals. The fraud that led to the downfall of Bre-X and the ensuing...more
The Bre-X mining scandal of the 1990s is one of history’s most infamous corporate fraud cases. Bre-X Minerals Ltd., a small Canadian company, falsely reported one of the largest gold deposits ever discovered in Indonesia,...more
In the annals of corporate fraud, few scandals match the magnitude of the Bre-X mining affair. For compliance professionals, the lessons from this incident resonate deeply, not just because of the scale of the deception but...more
Few corporate scandals are still as infamous or devastating as the Bre-X mining scandal. What began as a story of incredible wealth, fueled by the promise of one of the largest gold deposits ever discovered, unraveled into...more
Indonesia has relaxed restrictive local content requirements applying to electricity infrastructure projects. Under the new regulations, Indonesia will apply an exemption for projects that receive at least half their funding...more
The Government of Indonesia issued a new toll road regulation to address market concerns around tariff adjustment in special circumstances such as change in government policy. The new regulation also introduced a 'clawback'...more
Indonesia’s investment landscape continues to flourish, as revealed in the recent press conference led by the Minister of Investment and Head of Investment Coordinating Board of Indonesia. The first half of 2024 has seen...more
The Indonesian government has enacted a new law aiming to improve parental and child welfare. The new Law 4/2024 aims to ensure that working mothers enjoy equal rights in the workplace and also addresses high mortality rates...more
Arbitration has long been a preferred method for resolving commercial disputes in Indonesia. With the recent enactment of SCR 3/2023, significant changes have been introduced which should enhance the arbitration landscape. We...more
On December 29, 2023, the Indonesia's Financial Services Authority (Otoritas Jasa Keuangan or "OJK") issued a new regulation, OJK Regulation No. 29 of 2023 (the "New Regulation"), which revokes the previous OJK Regulation No....more
In World Law Group's Doing Business In Guide, member firms around the globe share how to successfully do business in their countries, key investment sectors, and what business opportunities are hot in the market right now. In...more
The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That...more
The Indonesian government has set out its plans for developing its still immature gaming industry, by enacting the Presidential Regulation No. 19 of 2024 on the Acceleration of National Game Industry Development (PR 19/2024)....more
Buoyed by healthy GDP growth and rising consumer confidence, Indonesian M&A has been on a roll in recent years. Southeast Asia’s largest economy has largely evaded macroeconomic headwinds such as high inflation and weakening...more
The Indonesian Supreme Court has issued new guidance on the issue of compensation pay and balance-of-contract pay for fixed term employees. On 29 December 2023, the Supreme Court of the Republic of Indonesia issued Circular...more
As we move into 2024, legislative reform is on the minds of competition regulators in the region as they turn to competition policy to address perceived challenges in market structures and limit the extent to which businesses...more
Over the past decade, Indonesia has witnessed substantial advancements in the construction of toll roads. Essential toll roads supporting the transportation of both cargo and passengers are now becoming interconnected. The...more
In line with government objectives globally, Indonesia is working towards reshaping its energy policy. In 2014, the Indonesian government took significant steps to establish the groundwork for Indonesia's new energy...more
The Indonesia Supreme Court has stated that the absence of a Bahasa Indonesia language version of a contract should not of itself mean that the contract should be voided, except where it can be proven that the absence of such...more
On January 30, 2024, Transparency International (TI) published its annual Corruption Perceptions Index (CPI) for 2023. The 2023 CPI suggests there has been limited progress in the global fight against corruption, with TI...more
On 2 January 2024, the Indonesian Government officially enacted the Law No. 1 of 2024 on the Second Amendment to Law No. 11 of 2008 on Electronic Information and Transactions (EIT law)....more
In 2024, an extraordinarily high number of national elections will be held across the globe, including in some of the biggest economies: the United States, United Kingdom, India, Mexico, South Africa, Indonesia, Russia – and...more