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Indonesian Law number 13 of 2003 regarding Manpower (Labor Law), stipulates four types of termination compensation which are applicable to permanent employees upon termination of their employment agreement: uang pesangon, uang penghargaan masa kerja, uang pisah, and uang penggantian hak. In this legal business column we will explain the exact meaning of each type of termination compensation and how each termination compensation is calculated based on the Labor Law.
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Global copper prices can come under pressure as Newmont Nusa Tenggara (NNT) has started to export copper concentrate again this week after a nine-month hiatus caused by the dispute between the Indonesian government and NNT about Law No. 4 of 2009 on Mineral and Coal Mining (the “New Mining Law” of Indonesia), which sets high export taxes on unprocessed mineral exports (and stipulates a complete ban by 2017), in an effort to force Indonesian miners to build local processing facilities.
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An amendment to the articles of association of a limited liability company in Indonesia - a PT in case of local investment and PT PMA in case of foreign investment - must be approved by the general meeting of shareholders. Besides approval of the general meeting of shareholders, law number 40 of 2007 (Company Law) requires in certain cases also approval of the Minister of Law and Human Rights (Minister). In this column we discuss such specific amendments and we will explain the approval procedure of such amendments.
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The global nickel price declined 5.1 percent on Tuesday (09/09) after it became known that the Philippines would not implement a ban on exports of this commodity yet. Similar to Indonesia, the Philippines was preparing to implement a ban on exports of unprocessed minerals in an attempt to boost revenues (by exporting mining products with added value). However, it may take seven years before such a policy is implemented. This implies that the occurrence of a possible shortage of nickel on the global market in the coming years has diminished.
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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.
