While there is no specific definition of shareholder activism in Indonesia, and Indonesia does not recognize shareholder activism, the Indonesian Company Law (Law No. 40 of 2007 regarding Limited Liability Companies) gives certain rights to each shareholder and minority shareholder that allow them to influence the company’s actions.
Indonesia's Ministrt of Communication and Informatics relatively recently issued MOCI Regulation No. 20 of 2016 regarding the Protection of Personal Data in Electronic Systems, which stipulates the protections afforded to personal data stored in an electronic system.
SSEK managing partner Denny Rahmansyah and senior associate Stephen Igor Warokka recently led a training session on Indonesian land and building law for the legal division of Badan Penyelenggara Jaminan Sosial (BPJS) Ketenagakerjaan, Indonesia’s social security administration agency for workers.
With the introduction of the Online Single Submission (OSS) system, as regulated under Government Regulation Number 24 of 2018 on Integrated Business Licensing Services through Electronic System (GR 24/2018), the issuance and supervision of a significant portion of capital investment licensing has been transferred from the Capital Investment Coordinating Board (BKPM) and several other government agencies to the OSS system.
As part of the push by the administration of President Joko Widodo to improve the ease of doing business in Indonesia and increase investment, the government has issued Government Regulation Number 24 of 2018 regarding Online Business Licensing Services (GR 24), which was signed and came into effect on June 21, 2018.
SSEK’s managing partner, Denny Rahmansyah, assisted by Saprita Tahir, an associate of the firm, led a legal training session on data protection for the board of PT Indocement Tunggal Prakarsa Tbk, one of the largest cement producers in Indonesia.
Indonesia has the largest economy in Southeast Asia, predicted to be the fifth-largest economy in the world by 2030. Indonesia has made deregulating its economy a focus and the country jumped 19 places to 72 in the World Bank’s 2018 Ease of Doing Business index.