Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

“What is particularly exceptional with Makes & Partners is that it is not only the partners who are exceptionally skilled, knowledgeable and trustworthy,” says one client. “There is many layers of staff below partnership level that are equally impressive.”

In February 2011, the team advised PT Bank Pembangunan Daerah Jawa Barat dan Banten on a Rp2 trillion (US$236 million) bond offering.

Leading the Makes & Partners M&A team is name partner Yozua Makes along with senior partner Iwan Setiawan. Both are highly regarded and appreciated by clients. “We always deal with Makes because of Yozua Makes and Iwan Setiawan, who are very knowledgeable and professional,” says one.

The firm served as counsel to Bowsprit Capital Corporation as manager of First Real Estate Investment Trust in relation to the acquisition of Mochtar Riady Comprehensive Cancer Centre Indonesia and acquisition of Siloam Hospitals Lippo Cikarang Indonesia.

Another notable transaction was advising PT AKR Corporindo (AKR) on the legal matters in its agreement to sell all of its ordinary shares in PT Sorini Agro Asia Corporindo.

Assegaf Hamzah & Partners

Assegaf Hamzah & Partners’ strong capability in practice areas such as capital markets, and energy and natural resources is well known. And key clients of the firm also turn to it for advice on real estate matters. A major highlight last year was assisting a consortium of foreign investors in a proposed land acquisition in Bali for the development of an integrated tourist resort.

Budidjaja & Associates

The past year saw Budidjaja advise PT Hitachi Construction Machinery Indonesia, a subsidiary of Hitachi Construction Machinery, on the corporate and commercial aspects of its plan for land acquisition and factory construction.

Another highlight included advising Enplas Corporation on its plan to acquire a plot of land and establish a subsidiary company in Indonesia via a complex sale and purchase of land agreement.

Makes & Partners

Makes & Partners served as legal counsel to HSBC Institutional Trust Services and Bowsprit Capital Corporation on a hospital property acquisition. This transaction was conducted by First REIT under the laws of Singapore. Other notable work included acting as legal counsel to PT Agung Podomoro Land on its initial public offering.

Melli Darsa & Co

Melli Darsa & Co’s M&A and capital markets practices work hand-in-hand with its oil and gas team. Together, they have completed a number of initial public offerings or other financings for leading domestic construction companies. For example, the firm advised PT Bumi Serpong Damai on its limited public offering of ordinary shares, as well as its acquisition of shares in PT Duta Pertiwi.

Roosdiono & Partners

Roosdiono & Partners is frequently engaged by domestic and multinational corporations on unique and complex commercial real estate transactions. The reach of the practice includes cross border work. For example, the team advises on innovative asset backed securitisations and real estate investment funds. This included a mandate on AXIS REIT, the first to be listed in Malaysia.

Makes & Partners

Makes & Partners’ strong project finance practice works hand in hand with its energy and natural resources team. The firm advised on the IPO of one of the largest plantation companies in Indonesia. Another notable transaction was acting as counsel to state owned PT Krakatau Steel in its IPO.

Melli Darsa & Co

Melli Darsa & Co has extensive experience advising on oil and gas mandates. Practice co-leader David Siahaan is seen on “numerous M&A transactions for natural resources projects”, says one competitor. The firm advised HSBC on its collaboration with six other banks to provide a US$250 million unsecured syndicated term loan facility to PT Transportasi Gas Indonesia.

Oentoeng Suria & Partners

In 2011, Oentoeng Suria & Partners announced its merger with Susanto & Partners. The firm’s energy and natural resources practice was consequently boosted and is now led by Atik Susanto, who joined with his team of 13 dedicated mining lawyers. The new team acted for Mercuria Energy Trading group, one of the world’s five largest private energy traders, on its acquisition of a third generation CCoW in Kalimantan.

Roosdiono & Partners

Roosdiono & Partners has been involved in at least three independent power plant projects in Indonesia, while its energy and natural resources practice group has enjoyed steady year-on-year growth.

Highlights include advising Kariangau Power on the proposed development of 2 x 15MW coal fired power plant projects, and on a multi-jurisdictional M&A involving parties from three jurisdictions all trying to secure high grade resources from Indonesia.