Koh Teck Peng 许德平’s Post

Assegaf Hamzah & Partners (AHP) recently participated in a Focus Group Discussion (FGD) organised by Otoritas Jasa Keuangan (OJK), Indonesia's Financial Services Authority.   The two-day event brought together industry experts to discuss the latest trends, risks, and mitigation strategies regarding the misuse of financial and legal engineering in the financial sector. Our Partner, indira yustikania, participated as a speaker and shared her insights on the current risks, methods, and typologies associated with the abuse of legal engineering.   The event provided a valuable platform for industry stakeholders to exchange knowledge and explore collaborative approaches to safeguarding the financial sector from the negative impacts of financial and legal engineering abuse.   AHP is proud to have contributed to this important discussion and would like to thank OJK for their trust in our legal expertise. As always, we remain committed to supporting the Indonesian financial services industry in navigating the ever-evolving and complex regulatory and compliance landscape.   #AHP #OJK #FinancialEngineering #LegalEngineering #FraudPrevention #FinancialServices #Compliance #RiskManagement #LawyersWhoKnowAsia

The sanctity of the principle of consideration in Malaysian contract law takes centre stage in Port Kelang Authority v Kuala Dimensi Sdn Bhd [2024] 1 MLJ 252. This case highlights how courts evaluate the necessity of mutual exchange in contract variations, cautioning parties against enforcing one-sided terms without demonstrable benefit to both parties. Our Financial Services Associate, Husna Shariff, shared her insights on the Court of Appeal’s findings and their impact on the enforceability of contract variations. This article serves as a guide for businesses to navigate the complexities of mutual consideration in commercial agreements. Read on to gain valuable insights into this pivotal decision. #NazmiZainiChambers #FinancialServices #DisputeResolution

03 October 2024 - The Anti-Red Tape Authority (ARTA) has once again demonstrated its commitment to transparency and accountability, receiving zero audit suspensions, disallowances, and charges for the third time this year. This achievement was reported in the Quarterly Statement of Audit Suspensions, Disallowances, and Charges (SASDC) from the Commission on Audit (COA). Since the 3rd quarter of 2022, ARTA has consistently complied with COA’s regulations, ensuring proper budget disbursement. This accomplishment highlights ARTA's role in leading by example among government agencies, showing that strict adherence to budgeting, accounting and auditing rules and regulations is essential in the broader effort to reduce red tape. Under the framework of a "Bagong Pilipinas," ARTA aims to continue its mission of streamlining government processes, starting with responsible management of public funds. #ARTA ng #BagongPilipinas #FromRedTapeToRedCarpet #COA

The Indonesian Financial Services Authority (Otoritas Jasa Keuangan, “OJK”) has issued OJK Regulation No. 30 of 2024, introducing comprehensive requirements for Financial Conglomerates and their Holding Companies (Perusahaan Induk Konglomerasi Keuangan, “PIKK”). This regulation enhances governance, risk management, supervision, and capital structuring, requiring Financial Conglomerates that meet specific asset and sector thresholds to establish a PIKK. It defines two types of PIKK: Operational PIKK, which also functions as a financial services institution, and Non-Operational PIKK, which serves solely as a holding company. Key responsibilities include strategic oversight, compliance with OJK regulations, periodic reporting, and maintaining strict governance standards. With OJK playing a central role in approvals, oversight, and enforcement, POJK 30/2024 represents a major advancement in Indonesia’s financial regulatory framework. By promoting greater accountability, stability, and sustainable growth, the regulation urges financial conglomerates to reassess their structures, align strategies, and strengthen governance to meet the new requirements. Head onto https://lnkd.in/gEGtcwC3 to learn more. #GHPLawFirm #GHPLaw #LawFirm #Lawyer

We are honoured to have our Managing Partner, Pramudya A. Oktavinanda, lead an insightful seminar at PT Elnusa Tbk as part of the Legal Preventive Program 2024. The seminar explored the intricacies of SOE Regulations No. 2/2023 on Guidelines for the Governance and Significant Corporate Activities of State-Owned Enterprises, and its impact on PT Elnusa Tbk—as a second-layer subsidiary of a state-owned enterprise and a public company. The seminar also provided valuable insights on navigating complex regulatory frameworks, such as the business judgment rule, the concept of state losses, relevant legal precedents, and risk mitigation strategies. Through the seminar and discussions, participants gained actionable insights to uphold good corporate governance and maintain compliance under the rigorous standards, all while fostering their business excellence. We are thrilled to have had this meaningful exchange with the dedicated team at PT Elnusa Tbk. Supporting SOEs and its subsidiaries in achieving the highest standards of compliance and governance continues to be a core part of our commitment. #WeSpeakYourLanguage #NoFirmLikeUs #CorporateGovernance #SOECompliance #PublicCompanyLeadership

Himpunan Konsultan Hukum Pasar Modal (HKHPM) has officially transformed into Himpunan Konsultan Hukum Sektor Keuangan (HKHSK) following an Extraordinary General Meeting (RALB) on December 4, 2024. This strategic move aligns with the mandates of UU No.4 Tahun 2023 on Financial Sector Development and Strengthening (UU P2SK), addressing the growing complexity and interconnection of sectors like capital markets, banking, and insurance. We’re proud to announce that FKNK Law Firm’s partners, Ichsan Perwira Kurniagung and Ferry Rajagukguk, have been appointed to the 2024–2027 board. Wishing them every success in their new roles. Read the full article here: https://lnkd.in/gHiNXyrD

This morning, I had the privilege of attending a briefing by the Companies Commission Of Malaysia / Suruhanjaya Syarikat Malaysia (SSM), which focused on the recent amendments to the Companies Act 2016. The amendments introduced by the Companies (Amendment) Act 2024 came into operation on 1.4.2024, with the exception of certain provisions. The amendments aim to:- (i) strengthen the corporate rehabilitation framework by expanding the application of corporate rescue mechanism (i.e. corporate voluntary arrangements and judicial management), and enhancing the scheme of arrangement or compromise with creditors (ii) strengthen the beneficial ownership framework (iii) enhance corporate governance and practices During the briefing, many stakeholders had the opportunity to address concerns regarding the companies' obligations to acquire and submit information about their beneficial owner (BO) via SSM's e-BOS portal by 30.6.2024. While the full impact of these amendments remains to be seen, it is certain that companies, including public listed companies, facing financial difficulties can now better utilize rescue mechanisms to rehabilitate their businesses, provided they adhere to the necessary requirements.

Calling all IQI Warriors in Johor! Are you ready to delve into the legal intricacies of real estate transactions? This time, I'll be at IQI Global Johor Branch to share invaluable insights on navigating legal matters in the world of real estate. From contracts to compliance, we'll cover it all to ensure you're equipped to conquer any legal challenges that come your way in the realm of property transactions. Mark your calendars for 8 May 2024! Join me for an engaging session where we'll delve into the nitty-gritty details that every real estate professional should know! #RealEstate #LegalMatters #IQIJohor #PropertyTransactions #ExpertInsights #IQIWarriors #JohorRealEstate #KnowledgeSharing #StayTuned #MarkYourCalendars #IQIGlobal #JuwaiIQI #IQI

At PT Gunung Raja Paksi Tbk (GRP), we are committed to upholding the highest standards of Good Corporate Governance. GRP's Head of Internal Audit, Vina Mozes, emphasizes the importance of transparency and accountability at GRP. Vina also shares about the Whistleblowing System, which is empowered as a means for employees to report unethical behavior anonymously and safely. Together, we can build a culture of integrity and trust. Want to see more? Check out this video! 💼✨ #LifeatGRP #TemanGRP #gunungrajapaksitbk #internalaudit

Suruhanjaya Syarikat Malaysia (SSM) has implemented a revised Beneficial Ownership (BO) Guideline, expanding its scope to cover all entities registered under their purview. This revision clarifies the identification of BOs and broadens the responsibilities of both entities and BOs themselves. With the added obligations for the maintenance and reporting of such information to the regulator, our Corporate Services team unpacks these changes and their impact on business owners and directors. Explore our perspective: https://pwc.to/3UcXWWw #Compliance #CorporateServices