Banking and Finance 2025

INDONESIA Law and Practice Contributed by: Maria Sagrado, Frederick Simanjuntak and Stephanie Kandou, Makarim & Taira S.

Makarim & Taira S. is a distinguished law firm in Indo- nesia, founded in 1980 by Harvard alumni Nono An- war Makarim and Frank Taira Supit. Since then, it has grown into a premier legal institution, known for its exceptional services. Guided by a vision to further its standing as a leading Indonesian law firm, Makarim & Taira S. is trusted for delivering value-driven legal services and maintaining professional excellence for corporations worldwide. The firm’s values form the bedrock of its approach to legal practice, ensuring that clients receive not only expert legal advice but

also a commitment to ethical conduct, continuous improvement, and a genuine understanding of their challenges. The firm offers comprehensive services across various practice areas, including banking & finance, capital markets, competition & antitrust, construction, corporate & commercial, M&A, employ- ment, foreign investment, franchise & licensing, insol- vency & restructuring, projects & energy, intellectual property rights, and real estate, as well as litigation, arbitration & dispute resolution.

Authors

Maria Sagrado is a leading practitioner and negotiator with high-level experience in structuring foreign investment and financial transactions in Indonesia. She advises clients from China, the USA,

Frederick Simanjuntak is a corporate and finance lawyer with over 15 years of experience advising on commercial transactions. He specialises in banking and finance and has acted for major corporations in syndicated

the UK, Singapore, and the European Union, across sectors including power, pharmaceuticals, logistics, mining, and fintech. Maria’s corporate and commercial experience enables her to advise clients on investments or transactions, with attention to all relevant legal considerations. Known for helping parties with differing interests collaborate for mutually beneficial results, she has led major finance deals involving foreign banks and export credit agencies with Indonesian borrowers, including SOEs, power plants, mining-related industries and manufacturers.

lending and project finance. His notable transactions include advising an independent power producer on the financing of a new ultra-supercritical coal-fired power plant in Central Java, with a generation capacity of approximately 2 x 1000MW and loan facilities of up to USD4.1 billion. He also represents several tech finance corporations, including start- ups that have grown into unicorns – one of which is now a global leader in the payments industry.

Stephanie Kandou advises major multinational and domestic companies on a wide range of legal matters in Indonesia, particularly in banking and finance, mergers & acquisitions, and other transactional

work. Her practice highlights include acting for both lenders and major corporate borrowers in complex financial transactions, including project finance transactions. In mergers & acquisitions, she has acted both for acquirers and target companies across various transactions in Indonesia.

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