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Wimbanu Widyatmoko

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Wimbanu Widyatmoko is a senior partner in Mergers & Acquisitions Practice Group. He has experiences in handling various legal corporate/commercial issues, corporate Indonesian tax and international tax planning on inbound and outbound investment. Wimbanu has been consistently ranked as a leading lawyer by leading legal directories, such as Chambers Asia, Asia Pacific Legal 500, AsiaLaw Profiles and International Tax Review for several years.

The Indonesian Competition Commission (Indonesian acronym “KPPU”) has issued a regulation revoking the policy that extended the deadline for merger filings to 60 working days since closing, from 30 working days. The original deadline will be applicable effective 1 May 2022. Since November 2020, the authority has been implementing relaxation policies for competition matters due to the COVID-19 pandemic, including the extended deadline for merger filings.

On 4 February 2021, the Government published its long-awaited draft implementing regulations on the job creation law (the “Omnibus Law”).  Previously, the competition authority could impose an administrative fine for competition law infringements of up to IDR 25 billion. The new maximum penalty will be either 50% of the profit gained by the violating party in the period in which it was in violation or 10% of its revenue. The new regulations also introduce other factors to be considered in determining penalties, as well as amendments to the appeals procedure.

It is unclear when this draft, which was to be issued within three months after enactment of the Omnibus Law, i.e. 2 February, will be signed and in force.

On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). The Omnibus Law amends a number of existing laws. On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law“). The…

New omnibus law introduces higher administrative penalties and repeals criminal sanctions for Anti-monopoly Law violations
Competition authority issues new merger control guidelines

The Omnibus Law on Job Creation was passed on 5 October and is expected to take effect within 30 days, or sooner upon signing by the President. The Omnibus Law also amends other several provisions of the Anti-monopoly Law in relation to appeals and other penalties for Anti-monopoly Law violations. Issued on 6 October 2020, the ICC’s new merger control guidelines provide clarity on current practice and also introduce new guidance on a number of procedural and substantive issues.

This update was published on 16 October 2020 as part of our quarterly newsletter, Asia Pacific Competition Highlights. Click here to access the full report, which covers the most notable antitrust developments across 11 Asia Pacific jurisdictions.

In brief This client alert covers a new guideline on assessment of mergers, acquisitions and consolidations (“2020 Merger Guide”) that was issued by the Business Competition Supervisory Commission of Indonesia (“KPPU”) on 6 October. The KPPU is authorized to review merger, acquisition and consolidation transactions under Law No. 5 of…

In brief On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). The Omnibus Law amends a number of existing laws, including the following: Law No. 7 of 2014 on Trade (“Trade Law”) Law No. 39 of 2009 on Special…