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Employee Termination Due to Company’s Acquisition

January 29, 2024

“Conducting an acquisition may result in employee termination. As the result of the termination of an employee for the company’s acquisition, the company shall give severance pay, tenure awards, and compensation per enacted law and regulation. Uniquely, there are conditions when the acquisition leads to changes in the work requirements, and the employee does not want to continue working in the company; the compensation calculation is different from the termination

Holding Director Positions in Multiple Companies

January 17, 2024

“The board of directors has a significant role as one of the company’s organs. Therefore, to avoid conflict of interest and monopolistic practices, some regulations prohibited for holding dual director positions in multiple companies.” Company can be defined as legal entity that can carry out legal actions. However, in its implementation, the Company acts represented by its organ. The organs of the Company consist of General Meeting of Shareholders (“GMS”),

Update on Investor Staying Permit and Impacts on Corporate Matters (Part 1): Potential Acquisition Process

November 28, 2023

“Upon the new regulation concerning the Investor ITAS, foreign investors must invest IDR 10 billion to have staying permit in Indonesia. It can possibly result in inadvertent acquisition process for companies.” In August 2023, the government of Indonesia has promulgated a new regulation in which it is stated that the requirements for a foreign investor to obtain an Investor Stay Permit (Izin Tinggal Terbatas Investor or “Investor ITAS”) have been

Knowing the Directorship Agreement in Indonesia

November 27, 2023

“As one of the company’s organs, the tasks of the Board of the Directors are determined by the Articles of Association of the company, and if needed, they may engage in the Directorship Agreement.” Limited-Liability Company (“Company”) can be defined as a legal entity that take form of a capital partnership and established based upon an agreement to conduct business activities. One of the Company’s Organ that managed the Company

Director’s Role and Duties in Indonesia

November 23, 2023

“In the dynamic business environment of Indonesia, a director plays a pivotal role in the future of a limited liability company. Directors are entrusted with significant responsibility in the governance and management of the company. Thus, directors must adhere to their duties and responsibilities.” Regulated by Law No 40 Year 2007 on Limited Liability Companies (“Company Law”), a limited liability company in Indonesia is a legal entity structured as a

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Employee Termination Due to Company’s Acquisition

Holding Director Positions in Multiple Companies

Update on Investor Staying Permit and Impacts on Corporate Matters (Part 1): Potential Acquisition Process

Knowing the Directorship Agreement in Indonesia

Director’s Role and Duties in Indonesia