January 2004

Dear esteemed members,

 

For our members who celebrate the Chinese New Year, we wish you a prosperous and peaceful new year.

 

Many analysts predict that it will be difficult for the Indonesian business sector to build a business model and plan for 2004 as we expect to have an unpredictable general election in 2004. Many people are still haunted by past chaos caused by political campaign, a frozen government, and uncertainty as to who will rule the country during the election period, let alone as to what kind of public policies are going to be applied by the newly elected government. Many people are also scared that in some parts of Indonesia, horizontal conflict among the competitors in the election might cause a bloody drama.

 

The aforementioned predictions reflect the pessimistic mind-set of those who lack the courage and commitment necessary to change Indonesia into a better nation. We survived the 1999 election peacefully and democratically. The Indonesian people are getting involved more, they have grown smarter and more mature in their understanding and participation in public policy issues. Problems are still here and there, and good governance and corruption are still the core issues, however the movement towards reforms is still very strong, particularly among the young people who work in the bureaucracy, parliament, political parties, NGOs, academic, and independent professions.

 

There is a reasonable hope that this general election will result in a better parliament and government, and public policies that will be produced will be more focused on promoting public welfare, transparency, equal opportunity and consistent law enforcement, which should support the business community and help rebuild the Indonesian private sector.

 

With that in mind, I would say that Indonesian businesses would be wise to now commence political mappings on the possible results of the election, make assessment on the trend of policies to be issued by the probable new governments, and start making plans based on such assessments.

 

I enclose in this letter the election schedule so that you will be able adjust your activities in anticipation of any slowdown in government and public services and to minimize possible risks.

 

We at LGS Online are also committed to serve you in helping your business activities become more focused and efficient. We will be continuously pouring you with news on business and investment opportunities, trend in government policies, political and economic analysis, updates on new laws, and of course our legal database that can be downloaded ‘round-the- clock. I also attach to this letter, a list of our legal database that has been launched in our site and carefully chosen to meet your prioritized needs.

 

 

It is our commitment to complete the legal database in other pertinent areas during 2004, in addition to the areas we have launched last year (investment, capital market, company and labor) which will be refined and updated. The new areas that will be covered include: anti-monopoly, consumer protection, trading and distribution, banking and finance (lease finance, venture capital, factoring, consumer finance) insurance, government procurement, intellectual property rights, environment, oil, gas and mining, infrastructure (power, gas, telecommunication, water, toll road, airport and seaport), privatization, IBRA, tax, export processing zone, plantation and forestry, dispute resolutions (litigation, arbitration and mediation) and others. For us, this is a giant workload, and a difficult commitment to deliver. With your continuing supports and blessing, we will do it.

 

Respectfully yours,

Arief Surowidjojo

CEO

 

 

 

 

 

 

 

Attachment I

 

 

 

Election Timetable from the National Election Commission

Date Event     April 5 Election of legislatures April 21-28 Announcement of the elected legislative members May 1-7 Registration of President and Vice President candidacies to the National Election Commission May 19 Announcement of the Pres and VP candidates June 1-July 1 1st round Pres and VP campaign July 5 1st round election of Pres and VP July 26 Announcement of Pres and VP 1st round winner July 30- August 5 Announcement of 2nd round Pres and VP election candidates September 14-16 2nd round election campaign September 20 2nd round election for Pres and VP October 5 Announcement of Pres and VP 2nd round winner October 20 Inauguration of 2004-2009 President and Vice President

 

 

Attachment II

 

LGSOnline Legal Database

 

 

 

Around 6,000 regulations in Bahasa and Other Documents in English:

 

 

Corporate Documents

 

 

Form I for Foreign Investment Application

Power of Attorney to Attend Shareholders Meeting

Specific POA for AGM

Specific POA for EGM

Specific POA to establish JVC

Minutes of Annual General Meeting of Shareholders

Resolutions of the Shareholders in Lieu of the Annual General Meeting of Shareholders

Resolutions of the Shareholders in Lieu of the Extraordinary General Meeting of Shareholders

Approval of the Commissioners for Obtaining Loan Facility

Notice of the Annual General Meeting of Shareholders

DOE of a Foreign Investment Company

Merger Proposal

Merger Plan

Merger Agreement

Abridged Merger Announcement

Announcement on Effectiveness of  Merger

Minutes of General Meeting of Shareholders to Discharge Director(s) or Commissioners

Minutes of Extraordinary General Meeting of Shareholders to Approve Transfer of Shares

Minutes of Extraordinary General Meeting of the Shareholders for Changing the Time of Inception and Duration of the Company

Minutes of Extraordinary General Meeting of Shareholders For Changing the Purposes and Objectives of the Company

Minutes of Extraordinary General Meeting of Shareholders For Changing the Name of the Company

Minutes of Extraordinary General Meeting of the Shareholders for Increasing the Authorized, Issued and Paid Up Capitals of the Company

Minutes of Extraordinary General Meeting of the Shareholders to change BOD and BOC

Minutes of AGM

Minutes of EGM to Dispose Assets

Minutes of EGM to Approve the Obtaining of Loan Facility

MoM of Commissioners to approve loan facility

MoM BoD to approve Loan Facility

MoM EGM to approve loan and secure assets

MoM EGM Merger, for the Merged Company

MoM EGM Merger, for the surviving company

Notice of EGM for obtaining loan facility

 

Memorandums

 

A highlight of Indonesian Company Law

Establishing a limited liability in Indonesia

Establishing a joint venture company under Indonesian foreign investment law

Fiduciary duties under Indonesian Company Law

Corporate Merger and Acquisition in Indonesia

Securing lender’s rights in Indonesian loan transaction

Promissory Notes: validity and enforcement

Corporate guarantee, personal guarantee, and indemnity and guarantee: validity and enforceability

Enforcing security document when a state-owned company or IBRA is involved

Bankruptcy and Moratorium Under Bankruptcy Law

 

Investment

 

Foreign Investment in Trading Service Sector

Foreign investment and Joint Venture in Indonesia, general important issues

Negative List of Investment

 

 

Capital Market

 

Equity public offering in Indonesia: Legal Issues and Procedure

Conflict of interest transactions in Indonesian publicly-listed Company

Material transactions and change of core business activities

Tender Offer

Acquisition of Shares in a Publicly Listed Company

 

Employment/Labor

 

a highlight of labor laws and regulations

important aspects of termination of employment

social security programs for employees

pension plan and how it works

 

 

 

 

 

 

Laws

 

Foreign Investment

Bank Indonesia

Banking

Capital Market

Prohibition of Monopolistic Practices and Unfair Business Competition

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