30 March 2023

In Indonesia, any party owning at least 5% of the shares in a public company is required to publicly disclose a change of ownership that amounts to at least 5% in the company’s shares.  This reporting deadline was amended by Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector Law (commonly referred to as the “P2SK Law”), enacted in January 2023, from
10 calendar days to five working days of the date of the relevant transaction.

For more on the P2SK Law, please read our article titled “Indonesia enacts new law reconfiguring supervisory powers in financial sector and mandating new initiatives”.