In 2014, President Joko “Jokowi” Widodo and Vice President Jusuf Kalla announced Nawa Cita, classifying tourism as a priority. To support these programs, various tourism initiatives and policies have been implemented, including visa-free entry for visitors from 169 countries, the development of 10 prioritized destinations to be the “New Bali,” and the upcoming...Read More
Generally, the Companies’ capital is governed under the article 31 until 36 Law No.40 Year 2007 regarding Limited Liability Company (Company Law). The companies’ capital is divided into three, those are Authorized capital, Issued Capital and Paid-up Capital.
I. Authorized Capital
Companies’ capital is the amount of capital stipulated in the companies’ article of association. All amount of...Read More
Indoneisan Company Law is regulated under the law No. 40 Year 2007 regarding Limited Liability Company (Company Law)
A deed of establishment contains the article of association and other information related to the establisment of company.
In principle, other than subjecting to the Company Law, a company must also subject to the article of association that has been determined. In other...Read More
Photo source: here
Article 92 Paragraph (1) Law No. 40 Year 2007 regarding Limited Liability Company (Company Law) states, Board of Directors will undertake the management of Company for the interest of the company and in accordance with the company’s purpose and objectives. Further, the Paragraph (2) states, Board of Directors have authority to undertake the management as meant under...Read More
According to Article 1 paragraph 6 Law No. 40 Year 2007 Regarding Limited Liability Company (Company Law), Board of Commissioner is Company organ with the task of general and/or specific supervision in accordance with the articles of association and giving advice to the Board of Directors. Yet, Commissioner individually has no significant authority in supervising Board of Directors....Read More
Shareholders as the owner of company individually has no significant authority except suing the Board of Directors, Board of Commissioners and other shareholders if their decision harmed him.
Shareholders would have had authority if he was within the General Meeting of Shareholders (GMS). General Meetings of Shareholders constitutes a forum and the highest organ in the Company.