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G&R Airtime: our Indonesia-focused podcast

Season two: Latest regulatory insights from G&R Airtime

In the second season of G&R Airtime, our hosts from Ginting & Reksodiputro in association with Allen & Overy will cover a wide range of topics which are high up on the agenda for many organisations as they navigate this turbulent and challenging time. With a focus on topics of interest to Indonesian based companies and organisations from a broad range of sectors, we bring you our insights on the latest regulatory trends and market developments to ensure that you can stay ahead. 

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Episode 19 – Indonesia’s proposed Omnibus Law: an employment perspective

Following on from last week’s episode, this time on G&R Airtime we are diving a little deeper into the provisions of Indonesia’s proposed Omnibus Law and in particular we look at the section dealing with employment. We analyse the proposed provisions and discuss what they could mean for employers and employees, with a focus on:

  • The areas of employment law that the proposed bill covers;
  • Why some of the changes are considered to be controversial and what the main concerns relate to;
  • The impact the proposed changes could have on investors and employers in relation to common employment issues; and
  • Steps employers should take in the event that the bill is enacted.

This episode is delivered in English.

Download episode 19

Episode 18 – Indonesia’s proposed Omnibus Law: what to expect

In this episode, G&R Airtime discusses Indonesia’s proposed Omnibus Law, which aims to consolidate numerous provisions across various industry sectors into one, overarching law. It is the first time that the Indonesian government has proposed this type of law. The aim is to simplify and streamline the existing legal landscape with the hope of attracting foreign investment and boosting the economy. In this podcast, we summarise: 

  • The background and rationale for enacting this new law;
  • The key areas that are covered by the proposed law and what the main changes are;
  • The current status of the proposed law and what needs to be done in order to enact it; and
  • Some of the concerns raised about the implications of the proposed law and why some commentators are opposing it.

This episode is delivered in English.

Download episode 18

Episode 17 – What’s driving Indonesia’s electric vehicle industry?

This week’s episode of G&R Airtime examines Indonesia’s competitive edge in the electric vehicle industry, but also the challenges players in this sector face. In particular, we discuss:

  • Indonesia’s competitive edge vs. the global electric vehicle industry;
  • The key provisions of Presidential Regulation No. 55/2019 on ‘Acceleration of Battery Electric Vehicles Program for Road Transportation’, and Government incentives that have been introduced to encourage the adoption of electric vehicles;
  • Electric vehicles vs. hybrid vehicles;
  • The main distribution channels for electric vehicles and the challenges these pose to players in the Indonesian market; and
  • The economic developments needed to encourage continued development of this industry.

This episode is delivered in English.

Download episode 17

Episode 16 – Indonesia’s e-commerce sector: latest regulatory insights

This week G&R Airtime turn their attention to the flourishing e-commerce market in Indonesia. With more and more Indonesians buying goods and services online and with increased investment flowing in, the e-commerce sector is said to have great potential for growth and development. Factors driving this growth include a growing middle class, greater access to mobile technology, a greater number of fintech and alternative finance options and increased foreign investment. In this episode, we speak to Niki Satyapeni, associate in our Corporate team, to learn more about this rapidly rising sector. We discuss:

  • What is meant when we use the term ‘e-commerce’;
  • The current state of the e-commerce market in Indonesia and why it is attracting foreign investment;
  • The new regulations introduced by the Ministry of Trade relating to both foreign and domestic e-commerce companies selling goods and services in Indonesia through online platforms which are due to come into force in November 2020; and
  • Some of the challenges faced when doing business in the e-commerce sector.

This episode is delivered in English.

Download episode 16

Episode 15 – Insights into financial services M&A activity in Indonesia

This time on G&R Airtime we provide an overview of M&A activity in the financial services sector in Indonesia. We are joined by Kenna Safrudin, a former counsel in our corporate team in Jakarta, who provides a summary of the legal and regulatory framework for financial services M&A transactions. We discuss the following:

  • The fundamental elements of M&A transactions in the financial services sector;
  • The key regulatory provisions which are relevant to these transactions;
  • An assessment of current financial services M&A activity; and
  • The practical steps involved in a typical transaction.

This episode is delivered in English.

Download episode 15

Episode 14 - A career in law – perspectives from an international law firm

This week we speak to our very own head of Human Resources for the Jakarta office, Sani Pradipto, to find out what it takes to be a successful lawyer and to discuss how law firms, in particular Allen & Overy, are adapting their approach to recruitment and retention of their employees in an ever-evolving business world. In this episode we delve into a range of topics, including: 

  • What it’s like to work for an international law firm;
  • How law firms are using people analytics in the recruitment process to identify the most suitable candidates;
  • What a typical career path for lawyers at an international law firm looks like;
  • How law firms can help to develop talent and ensure a healthy working environment, including the importance of mental health; and 
  • Diversity and inclusion and the role of the employer in ensuring equal opportunities at work. 

This episode is delivered in English.

Download episode 14

Episode 13 – Practicalities and pitfalls of convening an electronic General Meeting of Shareholders for Indonesian public companies

In this episode of G&R Airtime, we discuss the recently issued regulations relating to electronic General Meetings of Shareholders (e-GMS) in Indonesia, a matter of great interest to public companies given the current restrictions imposed as a result of the Covid-19 pandemic. To address some of the previous uncertainties relating to the process for holding an e-GMS and in light of the prevailing social distancing measures in place, the Indonesian Financial Services Authority (OJK) issued two regulations following the outbreak of Covid-19: OJK Regulation No. 15/POJK.04/2020 and OJK Regulation No. 16/POJK.04/2020. In this podcast, we discuss:

  • The process for holding an e-GMS under the new regulations;
  • The practicalities of holding an e-GMS and what companies need to do in order to comply with the regulations;
  • The pros and cons of holding an e-GMS and some common obstacles that companies encounter; and
  • The role that legal advisors can play in ensuring companies are equipped with the knowledge and understanding in order to effectively hold an e-GMS.

This episode is delivered in English.

Download episode 13

Episode 12 (Part 2) – Face to Face with Andri Wardhani: Women in Tech

Listen to the second part of this episode in our Jakarta Women’s Network series, in which we continue our discussion with Andri Wardhani, associate at Golden Gate Ventures, a venture capital firm investing across Southeast Asia. We hear more about her perceptions and insights into the representation of women in the tech industry and she shares some advice for women looking to embark on a career in tech.

This episode is delivered in English and is divided into two parts. Download Part 2 below.

Download episode 12 part 2

Episode 12 (Part 1) – Face to Face with Andri Wardhani: Women in Tech 

This is the first episode in our Jakarta Women’s Network series. The aim of this series is to open up a dialogue around a range of topics relating to women in business in Indonesia. In this episode, we are joined by Andri Wardhani, associate at Golden Gate Ventures, which is a venture capital firm investing across Southeast Asia. The firm invests in internet and mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications and SaaS platforms. In this episode we talk to Andri about:

  • her experiences of working in the tech sector and in particular, a venture capital firm;
  • the challenges women face in reaching senior leadership roles in tech companies;
  • how venture capital firms can play a role in addressing the lack of representation of women in tech; and
  • her advice for women looking to embark on a career in tech.

This episode is delivered in English and is divided into two parts. Download Part 1 below.

Download episode 12 part 1

Episode 11 – A closer look at Indonesia’s employment law in light of Covid-19

This week on G&R Airtime, our lawyers discuss employment law and regulations in Indonesia and address some of the many questions that employers are facing as a result of the Covid-19 pandemic. In this episode, we explain the legal and regulatory framework affecting:

  • Employers’ ability to impose measures to reduce salaries;
  • Termination of employment contracts, including the circumstances in which an employer is entitled to terminate the employment and whether employees are entitled to compensation;
  • The position relating to sick pay and sick leave, in particular in the context of employees having to “self-isolate” as a result of the pandemic;
  • What the situation is for those employees who are not able to work from home; and
  • How the pandemic will affect working norms going forward.
Download episode 11

Episode 10 – Recent development relating to private placement of debt securities and sukuk issuances in Indonesia  

In Episode 10 of G&R Airtime, we provide a brief overview of the recent regulatory framework relating to private placement of debt securities and sukuk issuances in Indonesia. Listen to our experts as they discuss:

  • The requirements of the relevant regulatory provisions relating to private placement of debt securities, including the issuance of convertible bonds, and sukuk issuances in Indonesia;
  • The issues that arise in practice in complying with the relevant regulation, as well as concerns market participants have about its implementation;
  • What the OJK has done to address these issues and concerns, and in particular the recent letter issued by the OJK to clarify implementation of the regulation; and
  • What the market outlook for private placement in Indonesia is in light of the OJK’s approach.

This episode is delivered in English.

Download episode 10

Episode 9 – Restructuring in Indonesia under the shadow of Covid-19

This time on G&R Airtime we are discussing the loan restructuring regime in Indonesia. With the Covid-19 pandemic putting additional pressure on companies to perform in severely challenging conditions, it is vital that companies are aware of their options when they find themselves in financial distress. In this episode, we consider:

  • The restructuring regime in Indonesia;
  • Considerations that companies and banks should take in to account when embarking on a loan restructuring;
  • Measures that the Indonesian government has put in place in response to the Covid-19 pandemic to support companies and banks; and
  • The key legal stages of the restructuring process and what role legal advisors play.

This episode is delivered in Bahasa Indonesia/English.

Download episode 9

Episode 8: Indonesian unicorn and decacorn companies – going public 

The decision to go public is a significant milestone in the development of a company, which has the potential to offer exciting new opportunities and propel the company to a new level. This week’s episode of G&R Airtime analyses the start-up scene in Indonesia and discusses the pathway to an initial public offering (IPO) for unicorn and decacorn companies. We explain:

  • The current landscape for start-ups in Indonesia;
  • The potential benefits of an IPO for unicorn and decacorn companies (and their shareholders);
  • Some of the key considerations that should be taken into account when deciding whether to pursue an IPO;
  • What key stakeholders can do prior to an IPO to protect their rights;
  • What is meant by a “dual class share structure” and the legal implications of adopting such a structure before conducting an IPO; and
  • Our views about what could be done to improve the IPO process in relation to the Indonesia Stock Exchange.

This episode is delivered in Bahasa Indonesia/English. Download episode 8

Episode 7: Spotlight on sovereign bonds and state debt

This week’s episode of G&R Airtime shines the spotlight on the current state of affairs in relation to sovereign bonds and sovereign debt, with a particular focus on Indonesia. This topic has received a lot of interest, as the Covid-19 pandemic has intensified the challenges faced by many sovereigns and their creditors. In this episode, we will discuss:

  • What a sovereign bond is;
  • Why governments might decide to issue sovereign bonds;
  • The recent issuance by the Republic of Indonesia, including the rationale behind this in light of the ongoing Covid-19 pandemic;
  • The process of a typical sovereign bond issuance and what the role of legal advisers is; and
  • Some of the key legal factors to consider when issuing Indonesian sovereign bonds.

This episode is delivered in Bahasa Indonesia.

Download episode 7

Episode 6: The status of e-signatures in Indonesia

With large numbers of people around the world working from home, the question of how you can practically and validly execute documents is one which has troubled many. Getting it wrong can have serious and irreversible consequences. In this episode, we discuss the legal status of e-signatures in Indonesia, and in particular: 

  • What constitutes an e-signature?
  • Whether the courts in Indonesia would recognise and enforce agreements executed by e-signature.
  • Who can effect an e-signature?
  • What documents can be signed by e-signature?
  • What should parties consider from a practical perspective before electronically signing a document? 
Download episode 6

Season one: fintech in Indonesia

The number of Fintech and tech based start-ups coming out of Indonesia in recent times has been significant. Global investors seeking the next big thing have taken notice of the Indonesia macro-economic story, which sees a young, growing, tech-savvy, middle-class consumer looking to achieve their dreams and, in the process, leapfrog old technologies. Investors are fighting over which start-ups to invest in. 

In season one of G&R Airtime, lawyers from Ginting & Reksodiputro, in association with Allen & Overy, together with guest speakers, will uncover the current commercial and legal fintech or tech development trends in Indonesia as well as the fintech regulatory landscape in order to highlight potential opportunities and challenges for both investors and start-ups.

Episode 1: Fintech series - welcome

In this episode, G&R Airtime shares a sneak peek into what to expect from the podcast series.                                                                                                                               

Download episode 1

Episode 2: #LocalHero – Kopi Kenangan: the rising star

In this episode of G&R Airtime’s Fintech Series, we speak to James Prananto, COO and co-founder of Kopi Kenangan, one of Indonesia’s homegrown coffee chains, about the company’s journey and impressive growth including: 

  • How they started out and lessons learned along the way; 
  • The company’s ambitions for growth; 
  • How they approached the issue of funding;
  • What they look for in investors;
  • The role of e-money and e-payments in their business; and 
  • Advice for young entrepreneurs when starting their own business. 

This episode highlights things to consider when starting a business from a commercial perspective, and provides useful insight into the increasingly important role of fintech in modern business. 

Download episode 2

Episode 3: The rise and future of e-Money, e-Payments and e-Wallets in Indonesia

G&R Airtime unpacks the jargon behind e-Money, e-Payments and e-Wallets, and discusses their related developments and regulatory requirements in the face of Indonesia’s desire to move to a cashless society.

Listen to find out more about:

  • The difference between e-Money, e-Wallets and e-Payments
  • The regulatory bodies that govern fintech in Indonesia and their compliance requirements
  • How relevant regulations have evolved over the last three years in Indonesia and expectations for the future
  • A deeper look into e-Money including the restrictions you need to be mindful of when entering the e-Money business and
  • What happens to e-Money when it is stored by an issuer. 
Download episode 3

Episode 4: #LocalHero – Akseleran: peer-to-peer lending in Indonesia

Hear from Ivan Tambunan, CEO and co-founder of one of Indonesia’s leading peer-to-peer (P2P) lending platforms, Akseleran, about the P2P market and what is important for borrowers and lenders when venturing into this space.  In this episode, you will hear about:

  • Why Akseleran evolved from an equity crowd funding platform into a purely P2P lending platform
  • Ivan’s thoughts on ‘financial inclusion’ and his plans to fill Indonesia’s SME funding gap
  • The challenges P2P lenders face when seeking investors, but also how the company is looking to protect its investors from non-performing loans
  • The regulatory landscape for P2P platforms and OJK’s desire to curb illegal P2P players
  • Advice for future P2P startups, including what to look for in a VC investor
Download episode 4

Episode 5: Understanding cryptocurrencies and their future in Indonesia

The world of cryptocurrencies can sometimes seem daunting and complex to the uninitiated. In this episode of G&R Airtime, our hosts go back to basics on cryptocurrency and discuss:

  • Characteristics of cryptocurrency, its risks and how this has impacted various regulations in Indonesia;
  • How a typical cryptocurrency transaction plays out in practice;
  • What is blockchain and how does it work in reality?
  • Stable coins and whether they are a form of e-money or a cryptoasset in Indonesia; and
  • How the regulators in Indonesia view cryptocurrency.
Download episode 5

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