PROFILE

He joined Darma Legal in 2007 and he is now a partner at Darma Legal.

He has extensive experience dealing with matters relating to domestic Indonesian issues as well as matters involving offshore investments into Indonesia. He has a strong understanding of the risk involved in dealing with any Indonesia based project or company.

He is also highly experienced in the areas of corporate and general commercial, infrastructure, project finance, restructuring, banking finance, mining and energy, labor, shipping, real estate and direct investment transactions.

EXPERIENCE

• Acted for the PRC company in the incorporation of a 2 X 100 MW coal fired power plant company in Kalimantan. The transaction included the procurements of investment license, business license, work permits and other permits.
• Acted for the Singapore branch of an offshore financial institution in its US$250 million secured loan financing to an Indonesian property firm. The loan was secured by, among others, first ranking mortgages under Indonesian laws over more than 200 land plots located throughout Indonesia.
• Acted for the purchasers in the sale and purchase of 100% shares of an Indonesian mini-hydro power plant company.
• Acted for an Indonesian purchaser in the transfer of asset of a textile chemical business in Indonesia.
• Acted for Malaysia sellers in the disposal of 100% shares of an Indonesian steel grinding company in Bekasi, Indonesia.
• Acted for an Indonesia purchaser in the sale and purchase of a 1,500 sqm property in menteng, Jakarta.
• Acted for the Singapore branch of an offshore bank in the granting of a S$15,000,000 syndicated loan facility to an Indonesian company secured by, among others, mortgages over land under Indonesian laws.
• Acted for the purchasers in the sale and purchase of 92.3% shares of an Indonesian power plant project company which is a shareholder of a 2 x 100 MW coal fired power plant company in South Sumatera. The transaction included undertaking due diligence on the land held or to be held by the power plant project company.
• Acted for the Singapore seller in the divestment of its 99% stakeholding of an Indonesian property firm. The Indonesian property firm held various investments in land and hotel assets located in Bali, Indonesia.
• Acted for an Indonesian purchaser in the sale and purchase of 14% shares of a hotel project company in Bali, Indonesia. The transaction also involved the acquisition of 19.8 hectares of prime land located in Bali, Indonesia to be developed and utilised for the hotel project.
• Acted for an Indonesian individual for registration of ownership of 8.9 hectares of land located in Lombok, Indonesia.
• Acted for several foreign investment companies and an Indonesian individual in the sale and purchase of various land plots in Indonesia, e.g. 2.2 hectares of prime land in Bali and/or land leases e.g. prime offices, apartments and shop spaces located in Sudirman, Kuningan and Thamrin, Jakarta.
• Involved with advisory work for nickel mining cooperation agreement, including due diligence on the land of the nickel mining areas.
• Acted for a Singapore financial institution in its US$84,000,000 secured loan financing to offshore borrowers for the purposes of a rights issues by an Indonesian listed company.
• Acted of a PRC based genco and EPC company in a US$10,000,000 acquisition of a majority stake in an Indonesian coal mining company.
• Acted for an Indonesian purchaser in a US$1,000,000 acquisition of a majority stake in an Indonesian domestic barging services company.
• Acted for an Indonesian based coal mining company in its US$10,000,000 equity investment by Japanese investors.
• Acted for a company listed on the TexDAX of the German Stock Exchange, on the purchase of the entire issued and paid-up share capital of an Indonesian IT company. The consideration comprises cash payments of approximately EUR39.7 million and earn-out components of up to approximately EUR4.7 million, dependent on the operational profit of the acquired company in the years 2012 to 2014.
• Acted for a Singapore branch of an offshore financial institution in its US$25 million secured loan to a Singapore company for its rubber production.
• Involved in advisory work for a bidding consortium on PLN’s 2 x 100 MW coal fire power plant in Central Java, Indonesia, including pre-qualification documents, request-for-proposal documents and power purchase agreement.
• Involved with advisory work for an EPC contractor and investor on a 3 x 130 MW coal fired steam power plant in Indonesia including undertaking due diligence, EPC contact, operation and maintenance contract and power purchase agreement.
• Advised a Hong Kong seller of a US$210 million acquisition of 75% stakeholding in an Indonesian coal mining company with coal mining concessions by an Indonesian publicly listed integrated coal mining and energy company.
• Advised a Singapore seller in a US$60 million acquisition of 25% stakeholding in a listed Indonesian infrastructure company.
• Advised a British Virgin Island seller in a US$59,520,000 acquisition of 100% stakeholding in a Singapore subsidiary company which has investments in various Indonesian coal mining companies by a Japanese listed commodities trading group.
• Advised an Indonesian financial institution in the granting to an Indonesian listed energy group of secured facilities aggregating US$238,000,000.
• Advised a PRC based genco and EPC company in their investment in an Indonesian project company, and the sale of a US$175 million, 2 x 55 MW turnkey coal fired power plant to the project company in Indonesia (Batam), and advising on the procurement of financing.
• Acted for the local branch of an offshore bank in its US$120 million term and revolving facilities to a Singapore borrower in the palm oil business, the proceeds of which are to be applied towards refinancing existing liabilities, working capital and pre-export financing needs. The facilities are guaranteed by several Indonesian borrowers and secured primarily against land and other assets in Indonesia.