- Makes & Partners to host 14th Asian Mena In-House Community Congress Jakarta on 3 May 2018
Makes & Partners will be one of the hosts of the 14th Asian Mena In-House Community Congress Jakarta (“In-House Congress Jakarta”) on 3 May 2018 at the JW Mariott Hotel, Jakarta.
In-House Congress Jakarta will bring together leading in-house lawyers, CEOs, company directors and compliance professionals from both the private and public sectors in Indonesia. Delegates will participate in workshops featuring prominent business leaders and lawyers.
Our managing partner, Mr. Yozua Makes will present on the topic of “Indonesian Financial Regulations in the Age of Disruption”, with focus on the relevant and current Indonesian regulations on digital payments, banking, loans and credits.
- Article on Know Your Beneficial Owner – A New Obligation Under Indonesian Law
In early March 2018, President Joko Widodo issued Presidential Regulation No.13 of 2018 on the Implementation of the Know Your Beneficial Owner Principle for the Prevention and Eradication of Criminal Acts of Money Laundering and Terrorism Financing (“Regulation 13/2018”). Regulation 13/2018 sets out the rule that requires Indonesian corporations to state and disclose their beneficial owner(s) (“BO”) to the relevant authority (“Authorized Authority”) and to update this disclosure at least once every year. The information on the disclosed BO is open to the public upon request.
The rule on BO is not exactly novel under the Indonesian financial regulatory framework. Financial service companies are subject to the anti-money laundering requirements that require them to do customer due diligence (CDD) on their customers, and to a certain extent, the beneficial owners of the customers. Also in practice, the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) requires any publicly listed company to disclose its BO in the disclosure documents (e.g. prospectus) each time such company undertakes a corporate action.
However, Regulation 13/2018 is considered a breakthrough for imposing rules to all types of corporations, be it a limited liability company or any other form of corporations (including non-profit associations and limited liability partnerships), regardless of whether the corporation is publicly listed or privately held. The regulation is expected to have far-reaching coverage and effect on the business operations of corporations. From the Government’s perspective, in addition to its original objective of ensuring anti-money laundering compliance, this regulation can also serve as an instrument to ensure tax compliance.
- Makes & Partners is Delighted to Announce and Proudly Welcome its New Financial Technology (“FinTech”) Practice
Indonesia has been embarking on a serious journey to become a leading digital powerhouse in Southeast Asia, specifically in the financial sector. Leveraging its massive penetration of mobile network, the country seeks to cater to the needs of both digital savvy consumers and the unbanked population in the innovative delivery of financial services. Various regulations have been introduced recently to support the emerging sector of financial technology – or “FinTech”, in Indonesia.
Makes & Partners is proud to be part of this journey from the beginning, further securing our reputation as a firm that has achieved a number of “firsts” in Indonesia. To respond to the growing demands, we are delighted to announce the establishment of our FinTech Practice at Makes & Partners, in conjunction with WongPartnership LLP’s sophisticated FinTech division. Makes & Partners and WongPartnership LLP have been in a successful strategic alliance since 2014.
As the term suggests, FinTech encompasses a broad range of practices within the financial sector. From helping the establishment of a digital bank, to navigating the regulatory complexities of the payments system, and to making sure data protection standards are met, our lawyers have the necessary experience in dealing with the rapid pace of financial innovation in the market. We have worked with Venture Capitals (VCs), angel investors, financial holding companies, banks, and startups to be able to understand the commercial dimension of FinTech deals and operations.
Some of our key lawyers also sit on the board of the expert advisory panel for digital financial innovation established by the Financial Service Authority (OJK), and have been asked to draft some key regulations recently introduced by the Indonesian regulators. We relish the prospect of leveraging our legal and regulatory experience across the financial industry to further shape the future of digital financial innovation in Indonesia.
- Makes & Partners wins the Boutique Law Firm of the Year at the Asian Legal Business - Indonesian Law Awards 2016
Makes & Partners has been announced as the “Boutique Law Firm of the Year” at the 2016 Indonesia Asian Legal Business (ALB) Awards held on October 27, 2016 at Jakarta, Indonesia. This marks the second time Makes has been inaugurated with this award (previously in 2014) and the third time Makes has won in this annual event for three years in a row, since 2014, where in 2015 Makes won Equity Market Deal of the Year for its role on the global initial public offering of PT Mitra Keluarga Karya Sehat Tbk. This accolade, along with many others, is further proof that Makes has consistently maintained its quality year after year as an Indonesian Law Firm which stands out among its peers.
- Makes & Partners is one of the finalist in the Asian Legal Business Indonesia Awards
Makes & Partners is finalist in the following prestigious awards at the Asian Legal Business Indonesia Awards to be held on 27 October 2016 in Jakarta.
- BMW Award Managing Partner of the Year –Dr. Yozua Makes
- Debt Market Deal of the Year - Lippo Karawaci’s Consent Solicitation
- Equity Market Deal of the Year - Project Beyond
- M&A Deal of the Year - Project Phuket
- Boutique Law Firm of the Year – Makes & Partners
- Indonesia Deal Firm of the Year – Makes & Partners
- Makes & Partners Takes Pleasure in Announcing New Dispute Resolution Practice and the Partner in Charge
As further enhancement to the range of legal services which we offer, Makes & Partners is most pleased to announce the opening of its new Dispute Resolution Practice. The Dispute Resolution Practice adds to and supplements the award-winning practices which Makes & Partners already has in, among others, Corporate Mergers & Acquisitions, Capital Markets, Corporate Finance & Banking, and Real Estate & Infrastructure.
The Dispute Resolution Practice is a further milestone in the strategic alliance between Makes & Partners and WongPartnership. WongPartnership is a Pan-Asian law firm with offices in Singapore, China, Indonesia, Malaysia, Myanmar and the Middle East through its own offices and associate law firms, and is recognised as a leading law firm internationally in both the corporate transactional and dispute resolution spheres. In particular, WongPartnership has internationally renowned practices in international arbitration and cross-border disputes, and Makes & Partners will now contribute a new dimension of Indonesian know-how and expertise in dispute resolution to the broad spectrum of services already provided through the strategic alliance.
This means that Makes & Partners, through its association with WongPartnership, will now be& able to provide a one-stop service for the full spectrum of your legal needs both in Indonesia and internationally, to be delivered with the same level of proven quality and excellence that Makes & Partners and WongPartnership continually strive for.
In this regard, our firm is proud to welcome Ms. Prawidha Murti, S.H., as the partner spearheading the Makes & Partners Dispute Resolution Practice. Prawidha graduated from University of Indonesia in 2000, and has in-depth experience in handling high-profile commercial disputes in proceedings before the Indonesia civil courts and bankruptcy courts as well as domestic arbitrations in Indonesia. She has also had an extremely strong track record in international disputes, having been intensively involved in international commercial disputes which involve international arbitration as well as various international courts through cross-border litigation. In addition, Prawidha regularly deals with cross-border family law and asset settlement matters, and has also developed a niche in anti monopoly proceeding, having handled various cases at the Indonesian competition supervisory authority (KPPU).
- Makes & Partners wins the Equity Market Deal of the Year at the Asian Legal Business - Indonesian Law Awards 2015.
We are very pleased to announce that one of our Firm’s deals was recognized as the “Equity Market Deal of the Year” at the Asian Legal Business Indonesia Law Awards 2015 held last 29 October 2015, at the Raffles Hotel, Jakarta.
Makes earned this award for its role on the global initial public offering of PT Mitra Keluarga Karya Sehat Tbk. (“Mitra”), as Mitra’s Indonesian legal advisor. Mitra’s initial public offering is considered as the largest Indonesian IPO for private companies in recent years by raising approximately USD 344 million, beating the IPO of taxi operator heavyweight Bluebird, which raised approximately USD200 million in 2014. Makes was also shortlisted for other 14 nominations in the ALB Indonesia Law Awards 2015 (including Indonesia Deal of the Year and Deal Firm of the Year).
The ALB Awards attracted Indonesia's most influential solicitors, in-house counsel, investment bankers, businessmen and members of the judiciary who assembled to celebrate the achievements of the top players in Indonesia’s financial, corporate and legal communities. The ALB itself is one of the world’s leading source of intelligent information for businesses and professionals.
- Our Founding and Managing Partner, Yozua Makes has been nominated as Managing Partner of the Year at the Asian Legal Business - Indonesia Law Awards 2015.
- Makes & Partners celebrates 22 years of seamless legal practice as a true Indonesian law firm
Twenty two years ago today, Makes & Partners entered into the Indonesian legal landscape as an independent and truly Indonesian law firm.
It was a legal industry dominated by giants, and Makes & Partners, a new law firm armed with but a few, yet talented and hard-working lawyers braved the uncertain legal market of Jakarta. It was not easy, and oftentimes disheartening, but through dauntless innovation, tireless discipline and with the help of God, Makes & Partners overcame various obstacles to become the formidable legal player it is today.
Makes & Partners’ stellar growth has been remarkable. In the past two decades, Makes & Partners has developed a growing roster of loyal clients and cultivated strong relationships with the government, financial institutions, and relevant supporting professionals. In 2014, Makes & Partners was, among others, recognized as “Indonesia National Law Firm of the Year” by the prestigious IFLR Awards and “Boutique Law Firm of the Year” by the ALB Law Awards. That same year, Makes & Partners entered into a strategic alliance with one of the biggest, top tier Singaporean firms,WongPartnership, for seamless integrated services in the greater Asia region.
Today, on the 22nd anniversary of its founding, Makes & Partners, ever grateful, is more than ready to face the challenges ahead.
Our partners have been identified as highly acclaimed legal experts in Indonesia by the Asialaw Leading Lawyers 2015 Edition.
We are very pleased to announce that our partners s have been identified as highly acclaimed legal experts in Indonesia by the Asialaw Leading Lawyers 2015 Edition (“Asialaw”). Asialaw is one of the largest annual surveys on Asia Pacific private practitioners. It is also a trusted resource for corporate executives and in-house counselsin search for sterling and high-quality legal advice in Asia.
Our founder as well as managing partner, Yozua Makes is recognized as Leading Lawyer for Capital Markets, Corporate M&A, IT, Telco & Media. Our senior partner, Iwan Setiawan is also recognized as Leading Lawyer for Capital Markets, Corporate M&A. Irfan Ghazali, is recognized as Leading Lawyer for Capital Markets and Fransisca, is recognized as a Rising Star for Construction & Real Estate.
WongPartnership’s November/December 2014 newsletter features its strategic alliance with Makes & Partners.
Top Singapore firm WongPartnership recently issued its November/December 2014 newsletter featuring its strategic alliance with Makes & Partners. The newsletter describes the nature of the alliance and the confidence of both law firms in this promising relationship. “Just as our clients trust us, we need to partner with fellow advisers we can trust and work with on our clients’ important investments. Our alliance with Makes & Partners is a reflection of the strong level of trust and reliance on each other,” said Alvin Yeo, a Senior Partner WongPartnership.
For more information concerning the newsletter, click here
Makes & Partners is Boutique Law Firm of the Year in the 2014 Indonesia Asian Legal Business Law Awards
Makes & Partners has been lauded as the “Boutique Law Firm of the Year” at the 2014 Indonesia Asian Legal Business (ALB) Awards held on October 18, 2014 at Jakarta Indonesia. This is undoubtedly another huge success for the firma fter winning the title of Indonesia National Law Firm of the Year by the International Financial Law Review (IFLR) and Indonesia Corporate and Finance Law Firm by the International Alternative Investment Review (IAIR).
Makes was also shortlisted for Deal Firm of the Year, Insolvency and Restructuring Law Firm of the Yea and Indonesia Law Firm of the Year. Our Managing Partner, Mr. Yozua Makes was nominated as Managing Partner of the Year.
The ALB Awards attracted Indonesia's most influential solicitors, in-house counsel, investment bankers, businessmen and members of the judiciary who assembled to celebrate the achievements of the top players in Indonesia’s financial, corporate and legal communities.
Makes & Partners is a finalist at The Asian Lawyer’s Emerging Markets Awards
We are delighted to announce that Makes and Partners has been shortlisted as one of the finalist
for the “Equity Capital Markets Deal Firm of the Year” at The Asian Lawyer’s (ALM) Emerging Markets Awards.
This award aims to identify those who have emerged as the most knowledgeable and trusted advisors across a range of practice areas in the exciting and vibrant Asian region. ALM is the publisher of The Asian Lawyer and The American Lawyer.
Once again, Makes’ superb work in the PT Matahari Department Store Tbk $1.3 billion share offering deal has earned the praise of the international legal and business community. This nomination joins the roster of our recent recognitions and achievements as a top player in the Indonesian legal landscape.
The Asian Lawyer’s inaugural Emerging Markets Awards will be held at the Fullerton Hotel, Singapore on November 19th, 2014.
Makes & Partners has entered into another landmark strategic move by forging a formal Pan Asia Strategic Alliance with WongPartnership, one of the biggest and most reputable law firms in Singapore. For the full press release, please click here
Makes & Partners has been chosen as a finalist for the Asian Legal Business SE Asia Law Awards for the following categories:
1. Indonesia Deal Firm of the Year;
2. Debt Market Deal of the Year for the following deals: (i) Blue Ocean Resources' Restructuring of Notes and (ii) Notes Issuance by Ottawa Holdings, PT MNC Investama Tbk. (High Yield); and
3. Equity Market Deal of the Year for Matahari Department Store's Re-IPO.We are also pleased to announce that the Founder, as well as the Managing Partner of Makes & Partners, Mr. Yozua Makes has been chosen as a finalist for SE Asia Managing Partner of the Year.
The event attracts more than 300 of SE Asia's most influential solicitors, in-house counsel, investment bankers, CEOs and members of the judiciary, who assemble to celebrate with the winners as they accept their awards on stage. The event is the culmination of months of intensive research that precede this important event. The ALB SE Asia Law Awards 2014 will be held at the Fullerton Hotel, Singapore, on Thursday May 29, 2014 to recognise the excellence and outstanding achievements of SE Asia's leading law firms, in-house legal teams and the top deals and dealmakers of 2013.For a full list of nominees, please click here.
Makes & Partners is IFLR 2014 National Law Firm of the Year for Indonesia.
The International Financial Law Review (“IFLR”), the undisputed guide to the world’s leading financial and corporate law firms, has recognized Makes & Partners as the “National Law Firm in Indonesia” for 2014. This is a huge success for the Firm as this award is highly sought after by other major players in the Indonesian legal landscape. Our Managing and Founding Partner, Yozua Makes, personally received the National Law Firm award for the Firm at the 2014 IFLR Asia Awards held at the Island Shangri-La Hotel, Hong Kong last February 26, 2014.
Three of our deals, (a) IPO of PT Matahari Department Store (Equity); (b) Blue Ocean (Restructuring); and (c) PT MNC Investama (High Yield), have also been nominated as Deals of the Year. These recognitions follow our success after being recognized by IFLR 2014 as a Top Tier firm in Indonesia in the major areas of Capital Markets and Mergers and Acquisitions, and a Leading Firm in the areas of Banking and Finance and Restructuring and Insolvency.
Makes & Partners is IAIR 2014 Best Corporate and Finance Law Firm for Indonesia. The International Alternative Investment Review (“IAIR”), one of the fastest growing alternative investment magazines in Asia and the world with a multi-disciplinary review that analyzes the different areas of alternative investments for individual and institutional investors, has bestowed on Makes & Partners its special award for “Best Corporate and Finance Law Firm – Indonesia” during the 2014 IAIR Awards (www.iairawards.com) held at the Sheraton Hotel, Hong Kong on February 28, 2014. Some of the past winners of the IAIR legal awards include noted international law firms such as Freshfields, Baker & Mckenzie, Skadden, Linklaters and Herbert Smith Freehills. IAIR is distributed at various events around the world, and circulated by Amazon bookstore, iPhone, iPad and Android applications. The magazine has featured influential articles contributed by global economists, politicians and Nobel Prize winners such as Paul Krugman, Joseph E. Stiglitz, Nouriel Roubini, Michael Spence and Laura Tyson, among others.
- Three of Makes & Partners' projects have been nominated for Deals of the Year at the IFLR 2014 Asia Awards. These are Project PT Matahari Department Store re-IPO (Equity), Project Blue Ocean (Restructuring), and Project PT MNC Investama Tbk (High-Yield). For a full list of nominees, please click here.
- Yozua Makes authored the chapter in Indonesia for the International Capital Markets Review. To view the full article, please click here
- Managing Partner Yozua Makes and Senior Partner Iwan Setiawan have been recently recognized by Chambers Global 2014 as a Leading Lawyers in the field of Capital Markets in the Indonesia
- Makes & Partners has again been ranked by IFLR as a Top Tier firm for 2014. Our Senior Partners, Yozua Makes and Iwan Setiawan, and Partner Irfan Ghazali have also been recognized as Leading Lawyers in Indonesia. To view our IFLR 2014 rankings, please click here.
- Legal Updates: The Issuance of the Financial Services Authority (Otoritas Jasa Keuangan) Regulation No.2/POJK.04/2013 on Shares Buybacks. To view the full article, please click here. To view the regulation, please click here.
- Legal Updates: The Issuance of Head of Indonesia Investment Coordinating Board Regulation (Badan Koordinasi Penanaman Modal) No. 5 of 2013 on Direct Investment Permit and Non-Permit Procedure. To view the full article, please click here. To view the regulation, please click here.
- Makes & Partners has been recognized as 2013 Asian MENA In- House Community Law Firm of the Year in Indonesia for Capital Markets.
- Managing Partner Yozua Makes authored the chapter on Indonesia in the Mergers and Acquisitions Review 2013. To view the full article, please click here.
- Managing Partner Yozua Makes has been recognized as 2013 Capital Markets Lawyer of the Year -Indonesia by CorporateINTL.
- Managing and Founding Partner Yozua Makes' article, "Challenges and Opportunities for the Indonesian Securities Takeover Regulations: General Framework and Analysis from Dutch Law and Theoretical Perspectives" was recently published at the University of Pennsylvania's East Asia Law Review. To view the published article, please click here
- Makes and Partners is nominated at the 2013 Asian Legal Business (ALB) SE Asia Law Awards for SE Asia M&A Deal of the Year (United Fiber System Reverse Take Over) and Indonesia Deal Firm of the Year. Managing Partner and Founder Yozua Makes is also nominated for Managing Partner of the Year. To see nominations click here
- Yozua Makes authored the chapter on Indonesia in the Mergers & Acquisitions Review (Sixth Edition) published by Law Business Research Ltd. To read the chapter, click here.
- Partner Iwan Setiawan was quoted in an IFLR article on the Asean bourse link. To read the article, click here.
- Makes & Partners has been selected by Pacific Business Press via the Corporate Asia Survey -- Firms of the Year 2012 that was sent out to 18,000+ in-house counsels across Asia as the most preferred external counsel in Indonesia for Corporate and M&A practice.