Ministerial Regulation of Law and Human Rights No. 2 of 2025: New Obligations for Corporations in Beneficial Ownership Reporting The government has issued Ministerial Regulation of Law and Human Rights No. 2 of 2025 concerning the Verification and Oversight of Corporate Beneficial Owners, replacing the previous regulation (Ministerial Regulation No. 21 of 2019). Effective as … Read more
The World Wildlife Fund (WWF) defines a sustainable economy as one that is resilient and capable of providing a high quality of life for everyone. It operates within the planet’s resource limits and aims to keep global warming below the critical 2°C threshold. This concept transcends traditional measures of success, focusing on long-term well-being rather … Read more
Over the past three years, several companies operating in the energy sector have achieved successful initial public offerings (IPOs) on the Indonesia Stock Exchange (IDX). In the specific sub-sector of oil and gas storage and distribution, notable entries include PT Humpuss Maritim International Tbk (HUMI), PT GTS International Tbk (GTSI), and PT Indah Prakarsa Sentosa … Read more
Geologically, Indonesia is located along the “Ring of Fire,” a tectonic plate boundary marked by fault lines and volcanoes. This ring stretches for approximately 40,000 kilometers across equatorial countries like Peru, Chile, Tonga, Japan, the Philippines, and Indonesia. According to the United States Geological Survey, about 81 percent of the world’s largest earthquakes occur along … Read more
Indonesia’s crude oil production declined over the last decade due to the natural decline of producing oil fields combined with a slower reserve replacement rate and decreased exploration and investment. With few significant oil discoveries in Western Indonesia over the last ten years, Indonesia still relies upon the mature oil fields in those areas that … Read more
The financial audit process involves having auditors evaluate the financial transactions and statements of oil and gas company. In general, an audit of the financial statements of an oil and gas company is the same as the phases of an audit of the financial statements of companies in other industries. A typical business financial audit … Read more
As stated by Lawrence M. Friedman, a law professor from the United States, the effectiveness and success of law enforcement are influenced by three important components, namely legal structure, legal substance, and legal culture. This serves as the basis for the government, which is currently working on a Draft Presidential Regulation related to Legal Compliance … Read more
In today’s evolving business landscape, sustainability has become a critical goal for industries, with green jobs emerging as a significant area of interest, particularly among the younger generation with advanced education. These environmentally friendly roles not only align with global sustainability goals but also reflect the growing demand for careers that contribute positively to the … Read more
Since its enactment in 2000, regulations on bank secrecy in Indonesia have undergone various changes in line with the dynamics of the financial sector. Initially, this provision was regulated in Bank Indonesia Regulation No. 2/19/PBI/2000 (“PBI 2/2000”), which affirmed the obligation of banks to maintain the confidentiality of customer information of their depositors and depositors, … Read more
EXPANSION OF THE SCOPE OF INVESTMENT FACILITIES FOR IKN BUSINESS ACTORS ON GR 29/2024 As a step towards realizing the Capital City of Nusantara (Ibu Kota Nusantara – “IKN”) as a sustainable global city, the government issued Regulation Number 12/2023 on the Issuance of Business Licenses, Ease of Doing Business and Investment Facilities for Business … Read more
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